Pioneer Media Holdings Inc announced on Monday it has acquired Singapore-based media studio Roundhouse Media Pte Ltd.
The Vancouver-based investment company said it will issue 5 million shares to Roundhouse shareholders. Application will then be made for the shares to be admitted to trading on Aquis Stock Exchange. Admission expected on or around December 24, the company added.
The share consideration will be subject to a four month hold period and may be subject to other resale restrictions or escrow requirements under Canadian Securities Exchange policies.
Roundhouse’s current focus is “Stonks: Tycoon,” a play-to-earn non-fungible token game through which users are rewarded with tokens or NFTs by playing.
The current Pioneer portfolio includes investments such as: Leaf Mobile Inc, a free-to-play mobile games group; Guild eSports PLC, an eSports business; and Kodoku Studios, a NFT-game publisher and developer.
Pioneer added that it will continue its investments in the NFT, NFT gaming and tokenized community sector.
Shares in Pioneer Media were at 95.5 pence on the Aquis Stock Exchange on Monday.