Mogul, a prominent matchmaking and tournament platform of Australia, raises AU 8 million USD in an oversubscribed and shared placement. With the recently acquired capital, the Company might now continue its operation for the next 24 months with complete funds from the acquired capital.
Sources and some release also unveiled that the financial support received from the placement came out from some recent and older shareholders, and the Chairman of Mogul, Gernot Abl, contributed with an investment of AU 50,000USD.
As for the future, the Company might use the raised funds for the continuous development of its tournament and matchmaking platform, accelerate its monetization and revenue generation, and come up with the strategies for brand engagement. It might also be used to engage the international partners and expand the partnership with the Mobile game and PC game publishers.
Additionally, under this placement, Mogul commits to issuing around 800 million shares, with each of them worth 0.01 USD per share and distributing over two of the tranches. Also, CPS Capital Group, the stockbroker of Perth, acted as the Broker and the Lead Manager.
We’re excited to be the lead manager to Mogul’s $8 million placement. We’ve seen the significant progress the Mogul team have made this year and are excited to be part of their long term future.Jason Peterson
Furthermore, Mogul’s Chairman Gernot Abl exhibited his excitement and how grateful he is for receiving such a support for the placement and raising a capital sum of 8 million USD; he also commented more on the Company’s placement capacity and stated that “investor appetite was so significant that it well exceeded the Company’s placement capacity. We have made significant strides as a company over the course of the previous year. Securing Cameron Adams and Kate Vale as Directors of the Company and Michael Rubinelli as our CEO has been well recognized by the market.”