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BRIEF-Gaming Corps to acquire Texas-based Red Fly Studio
October 17, 2016 / 7:06 AM / in 9 months

BRIEF-Gaming Corps to acquire Texas-based Red Fly Studio

1 Min Read

Oct 17 (Reuters) - Gaming Corps AB :

* Board enters into conditional agreement to acquire Texas-based Red Fly Studio Inc.

* Acquisition is done through directed share issue to sellers with deviation from shareholders' preferential rights

* To issue up to 5 million shares plus potential additional issue of 6 million shares if Red Fly reach revenue of over $2.5 million in 2016

* A further 8 million shares to be issued as additional purchase price if Red Fly's turnover exceeds $5 million in FY 2017

* Further 10 million shares is to be issued as additional consideration if Red Fly turnover exceeds $10 million in FY 2018

* Red Fly has revenue of about $0.8 million up until Sept. 30 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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