has announced that their wholly-owned touring subsidiary, Bricklive Touring Ltd, has entered into an agreement with AWC Asia for the lease of the group’s Mythical Beasts assets.
In consideration for the lease, which extends until December 2021, AWC Asia will pay BL Touring a Content and License Fee of $1.3 million, in cash.
Mythical Beasts, which features over 50 LEGO models, has been created by Bright Bricks, a model building company recently acquired by LVCG, will launch in South Korea at the end of January 2019.
The move represents the expansion of LVCG’s presence in Asia. Earlier this month, the group announced its Bricklive Animal Paradise tour of 20 cities around China for the next three years.
Executive Chairman of LVCG David Ciclitira hails the agreement as a demonstration of “one of the strengths of the recent Bright Bricks acquisition by the company.”
Listen to David Ciclitira tell Justin Waite about this news and LVCG's next moves on today's Daily Podcast:
As part of the listing, the company raised £523,500 before expenses through a share placing. It has also issued warrants that if they were all exercised would raise a further £1.3 million.
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