Pioneer Media Holdings acquires NGMI Labs for $7.0mn
VANCOUVER: Pioneer Media Holdings has acquired NGMI Labs Inc., an onramp into DAOs (decentralized autonomous organization) and tokenized communities, in a $7.0 million deal.
Under the terms of the acquisition, Pioneer has acquired 100 per cent of the outstanding shares of NGMI for a total consideration of four million common shares of Pioneer issued at a deemed price of $1.75 per share, to be distributed on a pro rata basis to the holders of the NGMI shares, and are subject to a four month hold period expiring April 30, 2022.
Tokens and decentralized technology provide powerful new building blocks that empower communities to capitalize, govern and grow in ways that have never before been possible.
DAO tokens, and the emerging tools and platforms that support their operations, represent one of the most exciting sectors of the Web3 space, and NGMI has the access and talent to capitalize on the emerging trend.
NGMI was founded by Jess Sloss, Gregg Peacock and Matthew Shaw, all with extensive experience in crypto, blockchain and Web3 communities.
Their unique combination of hands-on operational experience (having launched and grown leading DAOs) and crypto capital markets experience will be extremely valuable to Pioneer as the Company continues to accelerate its penetration into this emerging space. Each of Messrs. Sloss, Peacock and Shaw will continue in their current positions with NGMI.
Mr. Sloss is the instigator at Seed Club, a DAO incubator. Seed Club is a pioneering DAO in the emerging Social Crypto sector best known for its highly selective, cohort based accelerator program. Sloss is a thought leader in the DAO, Social Token and NFT space, he hosts the popular Seed Club Podcast and is an active angel investor and sought after advisor.
Mr. Peacock co-founded SquiggleDAO in early 2021 with the vision of building a large, Web3 community-owned collection of NFT art. Today, SquiggleDAO boasts 600 members collectively managing a $25-million of tier 1 NFT art. He has also worked with technology start-ups since 2002 and blockchain since 2015 as an investor, trader and educator, and has extensive experience advising early-stage blockchain start-ups on product strategy and crypto economics.
Mr. Shaw is the founder of DeFi Yield Technologies (recently acquired by Dispersion Holdings), Protos Asset Management, a cryptocurrency asset management firm, and Blimp Technologies (doing business as Blimp Homes), a proptech company incorporating a crypto rewards ecosystem. He is also a director of Argo Blockchain PLC, listed on both the London Stock Exchange and Nasdaq.
Mike Edwards, CEO of Pioneer commented, “The completion of this acquisition is another important step in our strategy of building a complete Web3 ecosystem. Jess, Gregg and Matt bring unparalleled experience across this exciting new frontier, and I could not be happier to welcome them to our team.
Pioneer is building something really exciting and coupled with industry expertise and leading, first-to-market assets across NFTs, DAOs and Web3, provides an exciting opportunity to invest in this emerging universe. On behalf of our Board, I would like to welcome Jess, Gregg and Matt and look forward to working with them as we continue executing on our growth strategy.”
Pioneer Media Holdings is an investment issuer that actively invests in and acquires a diversified portfolio of early-stage to mid-level companies in web3 including NFTs, NFT gaming and Tokenized Communities together with investments in esports and mobile gaming. Pioneer’s management team leverages its global network to provide investors with access to investments not normally available to the average retail investor.
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