Mighty Kingdom's Strategic Review Update

Mighty Kingdom Limited (ASX: $MKL) has provided an update on the progress of its strategic plan and capital raising process following the Strategic Review Update announced on December 29, 2023. The Company is finalizing a multi-year strategic plan and capital raising strategy as per the Letter of Intent with a Consortium of top gaming executives. The focus is on achieving profitability in CY24, establishing an AI Gaming lab, and creating an M&A pipeline in key growth areas.

Executive Commentary on Strategic Plan Progress

The potential upside within the business from an organic growth perspective coupled with the potential for an improved M&A pipeline is significantly better than expected. This requires more work around cashflow forecasting and resourcing to deliver clarity on the required capital raising and proposed strategic plan. All groups are working to deliver this in the coming days in conjunction with formal appointments to the board of incoming Directors.

Summary of Strategic Review Update

Mighty Kingdom Limited (ASX: $MKL) is making progress in finalizing its strategic plan and capital raising strategy following the Strategic Review Update. The Company aims to achieve profitability in CY24, establish a dedicated AI Gaming lab, and create an M&A pipeline in key growth areas. The potential for organic growth and an improved M&A pipeline has led to the need for further work on cashflow forecasting and resourcing to provide clarity on the required capital raising and proposed strategic plan. Shareholders will have the opportunity to vote on the merits of the plan via an Extraordinary General Meeting and participate in a future capital raising process. Mighty Kingdom has a track record of releasing successful games and working with top-tier entertainment and gaming companies, positioning itself as one of the largest independent game developers in Australia.