AlphaTON Capital and Animoca Brands Sign Equity and Token Investment Agreement to Acquire Controlling Stake in Subsidiary GAMEE

Animoca Brands, a company focused on the open metaverse and digital property rights, announced that it has signed an equity and token investment agreement with AlphaTON Capital, a Nasdaq-listed company. The agreement stipulates that AlphaTON Capital intends to acquire a controlling stake in GAMEE, a wholly-owned subsidiary of Animoca Brands. According to the terms of the letter of intent, AlphaTON Capital plans to acquire 51% of GAMEE's equity, as well as 51% of the GAMEE (GMEE) and Watcoin (WAT) tokens held in GAMEE's inventory. Upon completion of the proposed transaction, AlphaTON Capital plans to purchase up to $3 million worth of GMEE tokens and up to $1 million worth of WAT tokens on the open market to enhance its digital asset portfolio.