Quantcast
Other Stories

PGI is the holding company of mig33, the social entertainment platform founded in 2007 with a focus on mobile and emerging markets. PGI is seeking to list on the ASX through a merger with Latin Gold.

30 Apr 2014

PERTH (Commodity Online): Project Goth Inc. has secured a USD$2.2 million investment, from FIH Mobile Limited (“FIH”) (HK: 2038) through its indirect wholly-owned subsidiary, acquiring a mix of existing securities and subscribing to the rights to new shares.

PGI is the holding company of mig33, the social entertainment platform founded in 2007 with a focus on mobile and emerging markets. PGI is seeking to list on the ASX through a merger with Latin Gold (ASX: LAT). The company also recently announced the acquisition of artist entertainment community, alivenotdead.com in Hong Kong.

Subject to shareholder approval and successful completion of a merger with LAT, a further USD$7.4 million is to be invested in PGI through the placement of shares. As a result of the investment, FIH is expected to emerge with an indirect interest of up to 19.9 per cent.

PGI's Chief Executive Officer and Co-founder Steven Goh said securing the investment from FIH, which provides manufacturing services to the handset and wireless communications industries, was a strategic move for the company.

“We’re excited to be working with one of the great leaders in mobile, and securing this relationship will be pivotal in our ambitions to make the company as great as it can be,” he said.

These plans include the establishment of a development centre in Taiwan where FIH is based, focused on business development efforts and extending the company’s reach into the mobile ecosystem.

Latin Gold shareholders will vote on the issue of shares to FIH at a general meeting scheduled for June 2014. The notice of meeting was lodged with the ASX today and contains further details on the number of shares to be issued and the issue price.


YOUR RESPONSE
Click on the image to reload it
Click to reload image
COMMENTS (0)

@2013 COMMODITYONLINE ALL RIGHTS RESERVED