Mogo completed 19.99% stake in Coinsquare as scheduled

Mogo (MOGO) has acquired a 19.99% ownership interest in Coinsquare for cash payment of $27.4M and ~2.81M common shares with a right to increase its ownership up to 43% at a fixed price. Since its founding in 2014, Coinsquare has grown to become the leading digital asset trading platform in Canada.Coinsquare's assets on platform were up 700% Y/Y to over $630M and revenue increased ~500% Y/Y to an estimated $19M in Q1 2021. David Feller, CEO of Mogo said, “By deepening our relationship with Coinsquare and leveraging their crypto capabilities alongside Mogo’s broader digital wallet capabilities including our recently announced transaction with Moka, we believe Mogo is extremely well positioned to provide Canadians with a leading next gen wealth offering.” Additionally, Mogo has a 12-month call option to acquire from the Vendors an additional 10% of the outstanding Coinsquare shares at a fixed price, along with an 18-month warrant which would