Boba Mint acquires 50% stake in Werd Studios for USD $2.55M

Boba Mint Holdings has announced its intention to make a strategic investment in Toronto-based blockchain gaming company, Werd Studios, by acquiring a 50% equity stake.

Werd Studios, headed by technology entrepreneur Andrew Shore, is currently developing a variety of new blockchain gaming titles independently and in collaboration with partners. Their most advanced project, Cafe Disco Party, invites players to manage and expand lively café parties within an imaginative setting.

The proposed acquisition involves a purchase price of USD $2,550,000. Boba Mint plans to issue 10,000,000 of its shares at USD $0.20 each as part of this transaction, with Shore receiving half and the other half allocated directly to Werd Studios. Additionally, Werd will receive USD $550,000 as part of a share subscription.

"We're excited to partner with Boba Mint Holdings as Werd Studios continues to lead the way in creating exceptional gaming experiences. Through this collaboration, we'll leverage our deep crypto knowledge and extensive network to accelerate the growth of Boba's crypto asset, Tanjea, while expanding our reach, enhancing our games, and fueling the success of our future incubees and partners," said Andrew Shore.

Boba Mint's CEO, Rody Lazar, expressed enthusiasm about the partnership, stating, "We look forward to partnering with Werd Studios and leveraging Andrew's expertise to further enhance Tanjea dynamics and bringing in other leading blockchain gaming assets."

Following the closure of the investment deal, subject to due diligence and necessary approvals, Andrew Shore is expected to join Boba Mint as an advisor to contribute to the company's game development strategies.

To facilitate the transaction, PowerOne Capital Markets Limited is acting as an advisor.

In another development, Boba Mint has granted 3,400,000 incentive stock options to various directors, officers, consultants, and advisors as per the company's long-term incentive plan. Each option, priced at USD $0.20, will provide the holder a Boba Mint common share with a five-year exercisable period and will vest quarterly over 24 months.

The company has also settled arm's length debts amounting to USD $200,000 through the issuance of 1,000,000 shares.

These transactions are pending final approval from the Canadian Securities Exchange (CSE).