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STOCKHOLM, March 11, 2025 (GLOBE NEWSWIRE) -- Adventure Box Technology AB (STO: ADVBOX) ("Adventure Box" or "the Company") has issued a Corporate Update to Shareholders from Duncan McIntyre, CEO.
Dear Shareholders,
I am pleased to share recent developments at Adventure Box Technology AB, including an update on our previously announced planned acquisitions and our financing plans.
Pending Acquisitions Update
Blok Sports LLC and Sparx Technologies as announced on February 5, 2025: We are finalizing the Share Purchase Agreement and expect to sign and close these transactions this month. As previously mentioned, this is an all equity purchase with the majority of the consideration paid out over the next 4 years to minimize dilution to current shareholders. This transaction remains subject to approval at a coming EGM. Read More
RWB Smart Solutions Inc. as announced on February 18, 2025: We are completing our due diligence and have begun discussions with acquisition debt providers. This acquisition will add over $20 million in Revenue and $10 million of EBITDA to the Company, while providing unique intellectual property. This transaction remains subject to approval at a coming EGM. Read More
Zefr Media as announced on February 11, 2025: We are finalizing the Intellectual Property Purchase Agreement and expect to close in April 2025. This transaction remains subject to approval at a coming EGM. Read More
Project Quantum as announced on March 4, 2025: We intend to finalize the final corporate structure of the acquisition this week and execute the Share Purchase Agreement in the next few weeks. This acquisition will add over $12 million in revenue and $4.5 million EBITDA to the Company. This acquisition is a combination of shares and cash, which we intend to fund with debt financing to minimize dilution to shareholders. This transaction remains subject to approval at a coming EGM. Read More
Combined, the above acquisitions will add over $40 million in revenue and $15 million of EBITDA to the Company’s operations based on their unaudited 2024 financial information.
Financing Update
As mentioned above, we are currently in discussions with several financial institutions to provide an acquisition debt facility to close the above acquisitions and for use for future potential targets. With the low total Debt/EBITDA ratios of the Company after these acquisitions, we are highly confident in our ability to receive acquisition debt and limit unnecessary dilution to shareholders.
The Company, through its wholly-owned subsidiary Lion Gaming Group Inc., has also secured a debt line of credit for up to US$1 million to support the Company’s operations until the above acquisitions have been financed and closed, as announced on March 4, 2025. This funding will provide the flexibility needed to support ongoing operations and fuel the expansion of our B2C gaming brands while we finalize the transformative acquisitions above. Read More