Update on partnership with, and funding to, Quanta
15 September 2021
Mobile Streams plc
("MOS" or "the Company")
Update on partnership with, and funding to, Quanta Media Group Holdings
Mobile Streams plc, the AIM quoted mobile content and data intelligence company, is extremely pleased to announce an update on progress made by Quanta Media Group Holdings ("QMGH" or "Quanta") and provision of further funding by MOS to Quanta.
On 31 March the Company announced that it was providing QMGH a Convertible Loan Note of £250,0000 (the "Loan"), with a further £250,000 to be made available subject to achieving various agreed milestones, centred around its entrance to key markets.
These milestones included the launch of Quanta's first three direct to consumer, mobile content sites targeted at customers wishing to place sports bets and play online casino games in the Dutch language in The Netherlands once the regulated Dutch i-Gaming market opens on 1 October. As announced on 29 April, Quanta has used both the Streams content platform and the previously announced investment by MOS to launch these sites.
Six sites are now live, including https://CasinoMeesters.nl and https://WedMeesters.nl although the content on these sites is currently limited until it becomes legal to include specific i-Gaming content, affiliate links and calls-to action on 1 October. Quanta has also integrated its proprietary marketing technology platform with these sites in preparation for the full launch and is working with selected commercial iGaming partners in preparation for the market opening.
The purpose of each of Quanta's Dutch language sites is to help Dutch consumers make informed decisions about where and how to play online casino games, find free bet offers from Dutch sportsbook operators, and help potential sports bettors/punters make informed choices about which legal and regulated companies they can safely and reliably place their wagers with.
As a result of the excellent progress made by Quanta, the Company has agreed to make the second £250,000 available to Quanta, on the same terms as announced in March, in four tranches from now until December, subject to achieving various agreed milestones centred around technical and commercial progress in the Dutch market. Quanta is an early stage business which for the period 1 October 2020 to 31 August 2021 achieved a turnover of £50,000 and a loss of £257,000. Net assets, including those of two businesses acquired during the period, were £1.9m as at 31 August.
Ed Simons - Non-Executive Chairman QMGH, said:
"We are delighted with the progress made over the past five months in launching the Quanta i-Gaming lead generation business powered by the Streams platform in the Dutch market. We have a substantial amount of content and key commercial iGaming partners ready for the market opening on 1 October."
Nigel Burton, Non-Executive Director, said:
"We are very pleased with the progress made by Quanta in preparation for their full entry into the Dutch market utilising both the Streams content platform and the previously announced investment by the Company. The additional convertible loan will enable Quanta to develop its full service over the next three few.
In addition, following the successful launch of our LiveScores service in Mexico utilising the Quanta content and the Company's delivery platform, and the launch in Argentina announced on 13 September, the Company is in advanced discussions about launching a similar service in additional markets over the coming months. Further announcements will be made as soon as appropriate."
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information, please contact:
Mobile Streams plc
Nigel Burton, Non-Executive Director
+44 77 8523 4447
Beaumont Cornish (Nominated Adviser)
James Biddle and Roland Cornish
+44 (0) 20 7628 3396
Peterhouse Capital Limited (Broker)
Lucy Williams and Duncan Vasey
+44 (0) 20 7469 0930