Animoca Brands Corporation Ltd (ASX:AB1) has been granted a trading halt by the ASX with news of a proposed capital raising and acquisition pending.
The company has had a strong flow of news in the past month with a series of partnerships and licensing agreements extending its reach throughout the Asia Pacific region.
This trading halt will remain in place until the start of normal trading on Wednesday, April 3, 2019, or when an announcement is released to the market, whichever occurs earliest.
Animoca’s shares last traded at 10 cents last week.
READ: Animoca Brands partners with global talent platform Talenthouse
Last week, the company entered an MOU with Talenthouse, the largest global community of creators and influencers.
This is expected to lead to a joint venture with Talenthouse to contribute revenues including a minimum US$1 million of client revenue.
Animoca has also agreed to invest US$2 million in Talenthouse through preferred stock payable in half cash and half Animoca shares priced at 11 cents each, subject to approval from shareholders.
Also, in March, the company secured a global licensing agreement with Formula 1® to develop and publish the game F1® Delta Time.
As part of the agreement, Animoca Brands will assist in driving fan engagement by developing and publishing the blockchain game.
The first phase of the game, featuring NFTs based on Formula 1 intellectual property, will be launched on May 10, 2019.
READ: Animoca Brands secures $12.6 million contract; expands footprint into China
Animoca Brands also progressed its partnership with iClick Interactive Asia (NASDAQ:ICLK) in March by signing a deal with Vigame Network worth about $12.6 million to resell the advertising inventory of iClick.
Vigame is a leading mobile game developer and publisher in China focusing on casual games.
Animoca will resell to Vigame the social, media, and games advertising inventory of iClick for one year.