Mogo Announces Acquisition Closure of Additional Coinsquare Shares

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Mogo Inc. (NASDAQ: MOGO) (TSX: MOGO) has announced the closure of acquisition of an additional 2.0 percent of outstanding Coinsquare common shares. Mogo, however, still has the option of acquiring a further 3.4 percent of Coinsquare from Vendors by 13th October 2021 under similar terms and conditions.

When the above acquisitions are complete, Mogo will have 14 percent of Coinsquare’s common shares. Coinsquare is the leading cryptocurrency platform in Canada, and since its founding in 2014, the company has experienced rapid growth in assets and revenue.

Mogo agreed on Tuesday to acquire 655, 644 Coinsquare shares from vendors and 378, 774 common shares of Mogo, and a cash payment of $5 million. Mogo share vendors were qualified by the company’s prospectus supplement dated 14th June 2021and registered under the associated registration declaration filed with the United States Securities.

Coinsquare digital assets trading platform is engineered to bring a robust intelligent interface for trading Bitcoin, Ethereum, Litecoin, among other digital assets. Coinsquare also features an OTC desk responsible for managing accounts.

Mogo is a digital trading firm that empowering millions of its members with simple digital solutions to control their finances. Mogo has launched an app that clients can access digital spending account via Mogo Visa. The Prepaid card features automatic carbon offsetting, which makes it easy to buy and sell Bitcoin. It is also secure, free from fraud, and offers a digital payment platform that can be accessed worldwide.

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