Globe & Mail 08:11 AM EDT, 06/01/2021 (MT Newswires) -- Mogo Inc. (MOGO.TO, MOGO), a digital payments and financial technology company that rose nearly 3% at last look in U.S. premarket trading, said Tuesday that it intends to raise its stake in Canadian cryptocurrency platform Coinsquare Ltd. to as much as 53%.
Mogo will acquire a 2% stake in Coinsquare from investor Michael Diamond and an affiliated company, with the option to acquire an additional 3.4% shareholding in the platform. The transaction is expected to complete in mid-June subject to customary approvals.
Mogo, which already owns about 20% of Coinsquare, recently announced plans to buy an additional 5.4 million shares in the platform, which would increase its shareholding to as much as 48%.
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