Emerge Gaming Completes $ 1.8 Million Placement For Successful Rollout Of ArcadeX And GameCloud

  • Mar 27, 2019 AEDT
  • Team Kalkine
Emerge Gaming Completes $ 1.8 Million Placement For Successful Rollout Of ArcadeX And GameCloud

The leading eSports and casual gaming tournament company, Emerge Gaming Limited (ASX: EM1) has announced to have completed a placement to raise around $ 1.8 million before costs upon receiving strong support from institutional, sophisticated and strategic investors in the online gaming industry.

The placement will involve the issue of around 60,000,000 shares for 3.0 cents which represent an 11.9% discount to the volume weighted average price over the last five days of trade until the Company’s trading halt imposed on March 26th, 2019. Besides, for every two Placement shares issued, the subscribers will also receive a free attaching EM1O listed option, exercisable at $ 0.02 on or before April 18th, 2021.

Emerge Gaming is now sufficiently funded to accelerate the execution of its multiple ongoing initiatives which includes the launch of ArcadeX, a revolutionary Media Gaming Platform in Australia and other tier 1 countries. For this, it has accomplished extensive research and planning including partnering with leading multinational brand agency Meerkats to provide first-class Australian brand access and support in developing trade marketing collateral and a national roadshow presenting to major multinational brands, media buying agencies, creative agencies, Internet Service Providers and Telecommunications companies.

Besides, it has executed an agreement with the leading gaming industry player, iCandy Interactive Limited (ASX: ICI), thus gaining access to a significant user base and content in the form of iCandy’s 300+ mobile premium casual and social games portfolio.

The launch of the ArcadeX VAS model across Africa and the Middle East is also nearing completion.

Furthermore, Emerge Gaming is also set to capitalize on its first mover advantage and capture a significant market share with the rollout of the GameCloud technology, that has been validated and tested across Singapore, Indonesia and has recently completed testing across all major telecommunications networks in both South Africa and Australia.

Thus, the company is gaining significant traction with leading brands and is now headed towards increasing the scale and geographical reach of the launch of the suite of ArcadeX products.

As per the financial report for the half-year ended December 31st, 2018, Emerge Gaming recorded the revenue from ordinary activities at $ 129,615, significantly up 11171% from $ 1,150 in the previous corresponding period (PCP) ended December 31st, 2017. The Loss after tax amounted to $ 887,926, jump of 45% on PCP basis.

During the concerned period, Emerge delivered its first corporate tournament services for the leading pizza fast-food brand in Southern Africa, Debonairs Pizza. The eSports sponsorship and marketing campaign achieved high engagement levels with players and resulted in the company banking a revenue of AUD 100,000 as committed by Debonairs. Besides, ELeague and EPLAY, white labels of the Arcade X and Arcade X Mobi platforms respectively were also launched in August 2018.

Emerge Gaming has a market capitalization of AUD 19.98 million with ~ 587.59 million outstanding shares. On March 27th, 2019, the EM1 stock price closed the market trading at AUD 0.035, edging up 2.941% by AUD 0.001.


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