October 6, 2016 News Press Release

Battleriff’s issue of new shares has been oversubscribed

Battleriff Gaming AB, which is a Gothenburg based company within esports, has made a new issue of shares with preferential rights for existing shareholders amounting to 3 million SEK. Battleriff has some 100 shareholders and has earlier made a Seed Finance round that reached 8 million SEK.

“We are pleased to announce that the now finalised share issue was heavily oversubscribed, which shows that our shareholders are loyal and have a strong belief in our business concept”, comments the new CEO Torbjörn Winsell.

“We will spend the proceeds from the share issue primarily on development and marketing. The aim is to create such a growth within 3 – 6 months, that the company qualifies for a larger Series A financing round, at a much higher valuation,” Torbjörn continued.

Torbjörn Winsell takes up the position of CEO as of October. Torbjörn has solid knowledge of entrepreneurship and has piloted a number of enterprises from start-ups to ongoing successful businesses. The former CEO Mathias Lindmark, will cover the position as responsible for Investor Relations and Partnerships as well as head the task of strengthening Battleriff’s financial muscles before the expected expansion.

Recently Battleriff successfully introduced FIFA 17. The platform has also integrated lots of new features that enhances the gaming experience and creates interesting esports related content.