Haywood Capital Markets launched coverage of LEAF Mobile (LEAF Mobile Stock Quote, Chart, News, Analysts, Financials TSX:LEAF) on Thursday, with analyst Neal Gilmer saying the global opportunity in mobile gaming is huge and expanding.
LEAF Mobile hit the TSXV last April through a reverse takeover and then spent the next nine months on the Venture Exchange before graduating to the senior board this week. The company is a developer of mobile games and publisher of so-called counter culture titles like Archer: Danger Phone, FUBAR: Idle Party Tycoon and Cheech & Chong Bud Farm.
LEAF just completed the acquisition of East Side Games (ESG), a $159-million deal comprised of $19 million in cash, the issuing of 444 million common shares of LEAF and certain performance milestone payments. LEAF also recently completed a private placement raising about $23 million most of which went towards the ESG purchase.
