Pioneer Media Holdings Inc has completed the acquisition of Singaporean studio Roundhouse Media.
Roundhouse’s current focus is a game called ‘Stonks: Tycoon’ – a play-to-earn NFT game where users can generate an income stream through playing and are rewarded with tokens or NFTs, often earning more the longer they play.
Mike Edwards, CEO of Pioneer revealed the company plans to continue to invest in leading NFT and tokenised communities.
“Following the successful acquisition of Kodoku, a NFT game studio based in London, Roundhouse helps us scale our NFT gaming vertical even further, which aligns with our strategy of building a complete Web3 ecosystem,” he noted.
“We have a robust pipeline of strategic M&A opportunities and are focused on going fast and hard into the new powerful frontiers of Web3.”
In consideration of all of the securities of Roundhouse, this NFT gaming company will issue 5,000,000 common shares to the Roundhouse shareholders. Share consideration will be subject to a four-month hold period and may be subject to other resale restrictions or escrow requirements under Canadian Securities Exchange (CSE) policies.
The application will be made for the 5m common shares to be admitted to trading on Aquis Stock Exchange, with such admission expected to occur on December 24 2021.
Following closing, the company’s issued share capital will comprise 70,040,365 common shares without par value, with each share entitled to one vote.