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Post by Eorl @ 10:38am 29/04/14 | 0 Comments
Developer Funcom (Age of Conan, The Secret World) has secured an additional 9.7 million Norwegian Krone (USD $1.6 Million) in funding for the continued development of its Lego Minifigures Online MMO title, the company announced.

The funding is a part of a new deal made on May 25th, 2012 with the US investment firm Yorkville Advisors, in which the firm agreed to supply Funcom access to additional capital if needed within 36 months of the agreement. According to the developer, the acceptance of this investment now means that the agreement is partially exercised. Later this week, Funcom will issue 2,203,846 new shares of its stock, valued at around USD $1.6 million, as a result of the agreement.
"We are very pleased to have increased the company's financial flexibility with funds that will be used in preparing for the launch of Lego Minifigures Online," Funcom CEO Ole Schreiner said in a press statemenet. "We have several times expressed a need for additional equity and have considered different alternatives to secure this. This facility has been available to us since 2012, but the timing has not been right before."
Lego Minifigures Online, based on the popular building-block toys, is slated to launch sometime this year. The game is set to launch its open beta in June, with those who have signed up through the official site to be notified "soon."

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