Mobius, the Canadian-based online esports entertainment and gaming operator has announced that it will offer 5 million of its private shares. The company expects to raise about CA$ 2 million, requiring each share to be sold at a price of CA$0.4.
Mobius intends to use the raised funds in its global expansion plans. Currently, the company is targeting India, Brazil, and Mexico, the world’s largest iGaming market. Part of the raised funds will be used to finance marketing campaigns.
The company is operating in multiple markets across Europe. Mobius is a well-established company that offers sportsbooks to sports fans, iGaming casino, and live casino and esports options. Mobius agree that the iGaming industry is flourishing and part of the growth has been pushed the COVID-19 lockdowns.
Lynn Pearce, CEO of Mobius, said in a statement that the company is looking forward to building clients’ confidence by excelling in product innovation. Pearce believes that such a level of commitment will build a strong foundation in the new market.
Seamus Byrne, the Vice President of business development added that the iGaming market is expected to tremendously grow this year. He expressed his enthusiasm in the new market noting that entry in the new market may offer higher returns at the moment.
The company has pioneered a successful team in Europe and it may be easier to replicate that success in India, Mexico, and Brazil. At the moment, the company is in discussion will a licensed land-based casino in Mexico. A partnership with the casino will undoubtedly boost its entry into the regulated Mexican market.
