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28th December
2019
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FastForward Innovations Buys 41.15% Stake in Leap Gaming

It was verified on Monday that FastForward Innovations Ltd. has obtained a short 29.4% stake in provider of 3D technology for the gambling that is international Leap Gaming.

The investment represents FastForward’s first foray to the gambling industry, though it has long been wanting canadian online casinos with no deposit bonus to purchase that specific sector. The business is planning to get another 11.76% stake in the video gaming provider within the next four weeks, therefore bringing its desire for Leap Gaming to 41.15%. FastForward would be to pay the amount that is total list online casinos of3.5 million. It is to invest in its latest purchase with existing money resources.

The business initially subscribed for 693 devices in Leap Gaming for the amount that is total of2.5 million in cash, equaling a 29.4% stake. As stated above, FastForward would be to get 277 devices within the future thirty days for the total amount of $1 million in cash. New shares equaling $250,000 will likely be granted upon the transaction’s conclusion.

Most of the time, FastForward is famous to become a biotechnology and technology investor looking to expand and develop its profile of investees in a variety of company sectors. The purchase of a 41.15per cent interest in Leap Gaming brings the range FastForward investee businesses to eight.

Commenting in the announcement that is latest, FastForward CEO Lorne Abony said in a declaration that the Leap Gaming investment is indicative of these dedication to follow their core strategy. (more…)