News from 27/8 in relation to one of Rightbridge's investments. Rightbridge ownership is 52% Abelco and 22% ICI and recently onboarded Modelio Equities for 18% stake. Rightbridge has pencilled in an IPO.
"RightBridge Ventures AB (“RBV”) has further increased its holding in Lilmix Esports AB (“Lilmix”) through a private placement. Which means that RBV is now the second largest shareholder with 22% of the company. Lilmix is classified as one of Scandinavia's leading e-sports organizations with a professional CS: GO team that is among the top 10 in Scandinavia.In recent months, Lilmix has worked to build up its fan base, through Lilmix, among others. TV, TikTok and the organization's own bootcamp series on YouTube. This, together with the sporting achievements, Lilmix has aroused the interest of more brands and is happy to increase its attention among e-sports and gaming communities. The interest has led to several new annual contracts with new brands. Lilmix's revenues have increased by about 350% in the last five months compared to the previous year. Which significantly contributes to the goal of being EBITDA and cash flow positive by the end of 2021.
RightBridge Ventures' investments are intended to accelerate the building of the Lilmix fan base through social media and to provide additional funds to support continued sporting performance. Lilmix will increase the production of documentaries and other visual media content that will reflect their enthusiasm and commitment with the intention of making esports accessible to all, as well as participating in several tournaments.RBV will continue to support Lilmix's operations with capital and expertise. RBV currently owns about 22% of Lilmix.
For more information, visit RightBridge's new website HEREFor more information, please contact:Johan Rooth, VD
ICI Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
