TIDMPIRI
Pires Investments PLC
08 April 2021
8 April 2021
Pires Investments plc
("Pires" or the "Company")
Update on investment in Low6
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to announce an
update on its investment in Low6 Limited ("Low6"), the company that
has developed a next-generation sports betting platform, following
a shareholder update received by Pires.
Further to the announcement on 15 February 2021, Low6 extended
its pre-IPO funding round to allow a well-respected figure in the
worldwide gaming industry to invest in Low6 and join its advisory
board post-IPO, which was completed as expected.
As Low6 continues to experience significant user growth, the
company is looking to appoint a new Chief Technology Officer that
can scale the business and execute its 3-year technology
roadmap.
Low6 stated in the shareholder update that it now has over
122,000 users; 85% of which are Gen Z and Millennials - a target
demographic of many gaming companies worldwide.
Its PubWars apps went into soft launch on the 1 April 2021. The
soft launch is a 4 week period where user numbers are limited,
feedback is collated, and changes made to game play. In the first 7
days of soft launch over 2,000 entries were made, and c. GBP2,000
wagered.
Low6's Uber Eats Weekly 7 game has also gone live and, since the
previous shareholder update, Low6 has signed a number of new
partners, including Hull City FC, IFL TV, WTF1. Discussions are
on-going with other potential US partners.
Low6's plans to IPO remain on track, with a listing expected in
Q2 2021. Further information on Low6 can be found at
https://low6.com/ .
On 26 February 2021, Pires announced that it had invested a
further GBP35,000 in Low6 as part of the extension of Low6's
pre-IPO funding round, which closed in Q4 2020 and in which Low6
raised A$6m (GBP3.3m) in convertible notes. To this date, Pires has
invested a total consideration of GBP235,010 in Low6 by way of
convertible note and equity.
Peter Redmond, Chairman of Pires, commented:
"We are pleased to note that Low6 has continued to make rapid
progress since our most recent investment in February, as part of
the extension of Low6's pre-IPO funding round. Recently, Low6 has
launched the Uber Eats Weekly 7 game and PubWars app, as well as
signing a number of new partners within the sports industry, with
discussions currently underway with potential US partners.
"With its IPO still on track for Q2 2021, we look forward to
updating the market on Low6's progress in due course."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Peter Redmond, Chairman
Nicholas Lee, Director
Joint Broker
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935
Duncan Vasey/Lucy Williams Tel: +44 (0) 20 7469 0936
Joint Broker
Tennyson Securities Tel: +44 (0) 20 3167 7221
Peter Krens
Financial media and PR
Yellow Jersey Tel: +44 (0) 20 3004 9512
Sarah Hollins
Henry Wilkinson
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company
providing investors with access to a portfolio of next generation
technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech
businesses across areas such as Artificial Intelligence ("AI"),
Internet of Things ("IoT"), Cyber Security, Machine Learning,
Immersive Technologies and Big Data, which the Board believes
demonstrate evidence of traction and the potential for exponential
growth, due to increasing global demand for development in these
sectors.
For further information, visit: https://piresinvestments.com/
.
About Low6
Low6 provides sports teams with a custom branded FREE to PLAY
Picks app to engage and activate their fanbase.
Further information on Low6 can be found at https://low6.com/
.
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