Guild Esports PLC - London-based esports business - Signs subscription letter with ‘an international esports, content creation and media brand’ to raise up to £1.0 million. Brand has subscribed for up to 200.0 million new shares at 0.5 pence each. Subscription is in three tranches, all payable in cash. Brand has already subscribed for the first £250,000 tranche; the second, also of £250,000, is due on Monday. The third tranche is for £500,000, but is conditional on the two parties entering a ‘wider commercial agreement’. Proceeds will provide further working capital, ‘to implement Guild’s strategic drive for its brand and services more deeply into the industry ecosystem as well as to facilitate international expansion.’ Guild is especially eager to ‘establish an immediate foothold’ in the Middle East & North Africa region.

Current stock price: 0.47 pence, up 2.7% on Monday

12-month change: down 72%

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