The enterprise completed the first funding cycle with over CAD $3.8 million
(€ 2.5 million) from investors. The Luck Box is available on 13 esports and on desktop and mobile, offering legal, real money betting, live streaming and stats.
Luckbox was “phenomenal” in the first half of 2020 and is getting prepared to be included this summer at the TSX Venture Exchange.
The offer was extensively oversubscribed and consequently raised from CAD $2m to CAD $3m from the previously announced range.
A second tranche of funding was announced-concluding Monday, 15 June-again co-led by Gravitas Securities Inc. and Beacon Securities Inc. with sustained and strong interest in the offer.
Last month Luckbox was announced to approve an intention letter with TSXV, a capital pool company, Elephant Hill Capital Inc (TSXV: EH.P), with the intent of listing it on the TSXV.
Luckbox CEO Quentin Martin said: “It’s been a phenomenal first half of the year for us and that’s been reflected in the interest from investors. We’ve seen a 500% increase in betting volume since March. Turnover has risen to almost 13 times that seen in November 2019, while deposits are up 10-fold since then.
“Esports is one of the hottest sectors in the world at present and investors clearly see this opportunity, especially with the Coronavirus outbreak affecting numerous alternative forms of entertainment.”
“We will become only the second publicly listed esports company in the world, so our offering is an extremely rare opportunity.“We’ve been thrilled with the response so far and I’d like to take this opportunity to thank everyone who’s supported us so far – these are extremely exciting times.
