FastForward Innovations Buys 41.15% Stake in Leap Gaming
It was confirmed on Monday that FastForward Innovations Ltd. has acquired an initial 29.4% stake in provider of 3D technology for the gambling that is international Leap Gaming.
The investment represents FastForward’s first foray into the gambling industry, though it has long been seeking to invest in that specific sector. The organization is about to acquire another 11.76per cent stake within the gaming provider within the next four weeks, hence bringing its desire online casinos with no deposit bonus for Leap Gaming to 41.15%. FastForward would be to pay the total quantity of $3.5 million. It really is to invest in its latest purchase with existing cash resources.
The business initially subscribed for 693 units in Leap Gaming for the amount that is total of2.5 million in money, equaling a 29.4per cent stake. As previously mentioned above, FastForward is to get 277 devices within the month that is upcoming the total amount of $1 million in cash. Brand New shares equaling $250,000 are going to be released top 10 canadian online casinos upon the deal’s completion.
Broadly speaking, FastForward is well known to be always a technology and biotechnology investor looking to expand and develop its profile new online casinos of investees in a variety of company sectors. The purchase of a 41.15per cent curiosity about Leap Gaming brings the number of FastForward investee businesses to eight.
Commenting regarding the announcement that is latest, FastForward CEO Lorne Abony said in a statement that the Leap Gaming investment is indicative of their commitment to follow their core strategy. Continue reading “FastForward Innovations Beat Online Casinos Buys 41.15% Stake in Leap Gaming”