MOGO - Mogo to increase ownership position in Coinsquare Canada's crypto platform

Mogo (MOGO) trades 3.1% higher premarket after planning to increase its ownership position in Coinsquare, Canada’s leading digital asset trading platform, through the acquisition of an additional 5.4M shares thereby expanding Mogo's ownership in Coinsquare to ~37% from 19.9%.The purchase will be completed in two transactions - exercising of Mogo’s call option on 3.2M Coinsquare shares from existing shareholders and purchase of 2.2M shares of Coinsquare from Riot Blockchain (RIOT).Purchase consideration is expected to range between $46.9M and $48.6M payable in cash or shares.The acquisition from Riot is expected to complete in late May 2021 and the option exercise is expected to complete in early June 2021.Besides, the company also holds a purchase warrant in Coinsquare that, if and when exercised, would increase its total ownership interest to ~48%."In April alone, the Coinsquare business generated ~$8M of revenue and a 50%+ EBITDA margin. Simply put, this is a highly strategic and incredibly

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Mogo to increase ownership position in Coinsquare, Canada's crypto platform