Mighty Kingdom's Capital Raising Announcement

Mighty Kingdom Limited (ASX: $MKL) has successfully raised a total of approximately $8.2 million to drive its strategic vision for growth in the Australian and Global gaming sector. The capital raising, which saw significant over demand for MKL stock from existing and new stakeholders, includes a proposed $1.98 million capital raising via placement to Sophisticated and Institutional investors, subject to shareholder approval. The increased capital raise aims to further strengthen the company's balance sheet and drive growth across existing and future business opportunities.

Executive Commentary on Capital Raising

Mighty Kingdom CEO, David Yin, expressed his excitement and appreciation for the depth of support received, highlighting the positive investor backing toward the company's strategic direction, enhanced by new management and board representatives. Additionally, David Butorac, Mighty Kingdom Chair, emphasized the pivotal moment in the company's history, thanking existing shareholders for their increased investment and welcoming the new group of investors. He also noted the clear confidence and support in the future vision of Mighty Kingdom, expressing readiness to take advantage of arising opportunities and deliver with strong capitalization.

Summary of Mighty Kingdom's Capital Raising

Mighty Kingdom Limited (ASX: $MKL) has successfully raised approximately $8.2 million, with a proposed $1.98 million capital raising via placement to Sophisticated and Institutional investors, subject to shareholder approval. The increased capital aims to drive the company's strategic vision for growth in the Australian and Global gaming sector, further strengthening its balance sheet and providing flexibility to take on new contracts in the Work For Hire space, co-development, and pursue acquisition opportunities. The strong participation in the capital raising processes by existing shareholders, broking firms, and senior gaming entrepreneurs and executives reflects a clear confidence and support in Mighty Kingdom's future vision. The company looks forward to leveraging the additional investment to be well prepared for emerging opportunities and to continue playing a key role in the games industry.