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Live Company raises £350,000 from existing institutional investor to support new touring exhibitions arm

The existing institutional investor is buying shares at pretty much the going rate, and Live Company will use the funds to support its new division, BRICKLIVE Touring
lego elephants
It is thought that everyone in the UK will touch or hold a LEGO brick at some point in their lives

Lego-based events organiser Live Company Group Plc (LON:LVCG) is to take its themed shows on the road after setting up a new division, BRICKLIVE Touring.

Kicking things off is an exhibition called BRICKLIVE Animal Paradise, which is designed to educate the LEGO fan community about endangered species and will feature more than 65 LEGO animals, including a full-size African elephant and a snow leopard.

WATCH: Live Company Group launches BRICKLIVE Touring

No specific partnerships or locations have been announced yet, but Live said it will update investors in due course.

Asian markets the initial focus

To help support the new division, Live is raising £350,000 through a private placing with an existing institutional investor.

Live is selling 1mln shares at 35p apiece – marginally below Thursday’s closing price of 35.5p.

“This is an incredibly exciting opportunity for BRICKLIVE, which we are looking to launch and expand within our Asian markets initially,” said executive chairman David Ciclitira.

“We believe that the creation of these species in LEGO bricks, together with a tailored educational programme, will be an incredibly powerful way to raise awareness of the vital need to protect endangered species, among both parents and children, while also providing a unique platform to further strengthen and grow the BRICKLIVE brand around the world.”

On a separate note, the AIM-listed company confirmed it will publish its full-year results for the 12 months ended December 31 2017 next month (May).

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