MOGO - Mogo acquires additional shares in Coinsquare expanding ownership to 53%

Mogo (MOGO) +1.9% premarket on acquiring additional 2.0% of the outstanding common shares of Coinsquare from Michael Diamond and an affiliated company.The company also have an option to acquire an additional 3.4% of the outstanding Coinsquare shares from the Vendors within 120 days from the closing date. Greg Feller, President of Mogo said, “By leveraging Coinsquare’s leading crypto capabilities, along with Mogo’s leading digital wallet capabilities, we are well positioned to execute on our growth plans.” The transaction is expected to complete in mid-June 2021.Combined with the company's previously announced transactions and the existing purchase warrant could now increase the ownership in Coinsquare to 53%.

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Mogo acquires additional shares in Coinsquare, expanding ownership to 53%