Luckbox, a licensed platform for over 100 countries world-wide, has secured a second tranche of funding for a dedicated esports betting platform and raised a further CAD 627,650 from investors.
The total amount raised in the offer to date is $4,505,874 CAD, after an initial tranche of $3,878,224 CAD was secured.
Having the benefit of the Covid -19 lockdown for contact sports, esports betting activities had grown exponentially during the first 6 months of 2020.
The first six months of 2020 have been extremely successful with the Covid-19 lockdown prompting a surge in the activity of esports betting activity. The bid, that was initially over-subscribed, had to be increased from $2million CAD, to $3million CAD.
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Luckbox also signed the letter of intent with Elephant Hill Capital Inc last month with a view to listing on the TSX Venture Exchange with Elephant Hill Capital Inc (TSXV: EH.P).
Luckbox CEO Quentin Martin had this to say:
“Esports has been one of the few industries to thrive during the Covid-19 outbreak and its enormous potential has been brought into sharper focus. Investors have clearly taken note and their support for us puts us in an even stronger position to accelerate our growth plans.”
An excited Mo Fazil, President and CEO for Elephant Hill said: “As evidenced by the oversubscribed subscription receipts offering, we continue to be enthusiastic about our proposed business combination with Luckbox.
“The esports market continues to expand with each passing month and Luckbox is positioned to be one of the leading esports betting companies in an exciting growth industry.”
