Pioneer Media Hldgs - Pioneer Completes Acquisition of NGMI Labs
RNS Number : 4352X
Pioneer Media Holdings Inc.
05 January 2022
 

 

 

 

 

 

 

 

PIONEER COMPLETES ACQUISITION OF NGMI LABS, FURTHER PENETRATING THE EMERGING DAO AND WEB3 ECOSYSTEM

 

 

VANCOUVER, BC, January 5, 2022- Pioneer Media Holdings Inc. (CSE: PNER, AQSE: PNER) ("Pioneer" or the "Company") is excited to announce that it has completed the previously announced acquisition of NGMI Labs Inc. ("NGMI"), an onramp into DAOs (decentralized autonomous organization) and tokenized communities.

Tokens and decentralized technology provide powerful new building blocks that empower communities to capitalize, govern and grow in ways that have never before been possible. DAO tokens, and the emerging tools and platforms that support their operations, represent one of the most exciting sectors of the Web3 space, and NGMI has the access and talent to capitalize on the emerging trend.

NGMI was founded by Jess Sloss, Gregg Peacock and Matthew Shaw, all with extensive experience in crypto, blockchain and Web3 communities. Their unique combination of hands-on operational experience (having launched and grown leading DAOs) and crypto capital markets experience will be extremely valuable to Pioneer as the Company continues to accelerate its penetration into this emerging space.  Each of Messrs. Sloss, Peacock and Shaw will continue in their current positions with NGMI.

Mr. Sloss is the instigator at Seed Club, a DAO incubator. Seed Club is a pioneering DAO in the emerging Social Crypto sector best known for its highly selective, cohort based accelerator program. Sloss is a thought leader in the DAO, Social Token and NFT space, he hosts the popular Seed Club Podcast and is an active angel investor and sought after advisor.  

Mr. Peacock co-founded SquiggleDAO in early 2021 with the vision of building a large, Web3 community-owned collection of NFT art. Today, SquiggleDAO boasts 600 members collectively managing a $25-million of tier 1 NFT art. He has also worked with technology start-ups since 2002 and blockchain since 2015 as an investor, trader and educator, and has extensive experience advising early-stage blockchain start-ups on product strategy and crypto economics.

Mr. Shaw is the founder of DeFi Yield Technologies (recently acquired by Dispersion Holdings), Protos Asset Management, a cryptocurrency asset management firm, and Blimp Technologies (doing business as Blimp Homes), a proptech company incorporating a crypto rewards ecosystem. He is also a director of Argo Blockchain PLC, listed on both the London Stock Exchange and Nasdaq.

Mike Edwards, CEO of Pioneer commented, "The completion of this acquisition is another important step in our strategy of building a complete Web3 ecosystem. Jess, Gregg and Matt bring unparalleled experience across this exciting new frontier, and I could not be happier to welcome them to our team.  Pioneer is building something really exciting and coupled with industry expertise and leading, first-to-market assets across NFTs, DAOs and Web3, provides an exciting opportunity to invest in this emerging universe. On behalf of our Board, I would like to welcome Jess, Gregg and Matt and look forward to working with them as we continue executing on our growth strategy."

Transaction details

Under the terms of the acquisition, Pioneer has acquired 100 per cent of the outstanding shares of NGMI for a total consideration of four million common shares of Pioneer issued at a deemed price of $1.75 per share, to be distributed on a pro rata basis to the holders of the NGMI shares, and are subject to a four month hold period expiring April 30, 2022.  Additionally, the Pioneer shares issued will be subject to "lock up" restrictions, with 25% of such shares being freed from such "lock up" restrictions every six months commencing June 29, 2022.  Each of the NGMI vendors is at arm's length to Pioneer.  Application will be made for the 4,000,000 common shares to be admitted to trading on Aquis Stock Exchange, with admission expected to occur at 8:00AM London time on or around January 12, 2022.

With the completion of the acquisition, the Company's issued share capital is comprised of 74,040,365 common shares without par value, each share entitled to one vote.

The Company's directors take full responsibility for this announcement.

About Pioneer Media Holdings Inc.

 

Pioneer is an investment issuer that actively invests in and acquires a diversified portfolio of early-stage to mid-level companies in web3 including NFTs, NFT gaming and Tokenized Communities together with investments in esports and mobile gaming. Pioneer's management team leverages its global network to provide investors with access to investments not normally available to the average retail investor.

 

The current Pioneer portfolio includes investments such as: Leaf Mobile Inc. (d/b/a "East Side Games Group") (TSX: EAGR), a leading free-to-play mobile games group; Guild eSports plc (LON: GILD), a global eSports business headquartered in London whose lead investor is David Beckham; Dynasty eSports Pte Ltd, creators of the world's leading white-label Gaming Ecosystem Management solution, partnering exclusively on a B2B basis with Tier 1 telco's and large media organisations; NFT Investments plc, a London based investment company focused on non-fungible tokens ("NFTs"), and Kodoku Studios, a NFT-game publisher/developer of titles such as The Pit

 

Pioneer will continue its focus on web3 investments, including investments in businesses in the NFT, NFT gaming and tokenized community sectors.

 

Additional information about Pioneer is available at www.sedar.com.

 

ON BEHALF OF PIONEER MEDIA HOLDINGS INC.

 

"Mike Edwards"

 

CEO & Director

 

First Sentinel Corporate Finance Ltd (AQSE Corporate Adviser)    

Brian Stockbridge / Gabrielle Cordeiro           +44 7876 888 011

 

 

Neither the Canadian Securities Exchange nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NEXBKQBNNBKBFDK ]]>