Hong Kong-listed CMON Limited (CMON) disclosed that its wholly-owned subsidiary, CMON Hong Kong Limited (the Purchaser), signed a sale and purchase agreement on 23 April 2026 to buy 220 shares—equivalent to 2.2% of the issued capital—of Blissful Link Investments Limited (the Target Company). The stake will be acquired from Precious Choice Global Limited (the Vendor) for approximately HK$16.50 million, to be settled via an interest-free promissory note issued by CMON on completion.

Blissful Link Investments, incorporated in the British Virgin Islands, specialises in video-game development and is currently 77.06% owned by the Vendor. Its latest project, “Capverse”, is a Web3 “play-to-earn” blockchain game. Unaudited management accounts show that the Target Company generated revenue of HK$6.36 million and recorded a net loss of HK$0.89 million in 2023; revenue fell to HK$3.20 million in 2024, with the net loss widening to HK$1.55 million. As at 31 December 2024, the company reported net liabilities of HK$6.97 million.

The purchase price was negotiated at arm’s length and benchmarked to a market-based valuation referencing the last share transaction dated 20 August 2024. Upon completion, the acquired shares will be recognised as “fair value through other comprehensive income” on CMON’s balance sheet.

Key conditions precedent include satisfactory due diligence on the Target Company—particularly its “Capverse” project—board approvals from both Purchaser and Vendor, and the accuracy of warranties at completion. The long-stop date for fulfilling or waiving these conditions is six months from the agreement date, with completion scheduled for the third business day thereafter.

CMON views the deal as an integral step in its digital transition strategy. By leveraging its established intellectual properties such as Massive Darkness and Super Fantasy Brawl Reborn, management aims to broaden revenue streams through digital and Web3 platforms while maintaining its core tabletop business.

Under Hong Kong Listing Rules, the transaction’s size—exceeding 5% but below 25% of relevant percentage ratios—classifies it as a discloseable transaction, requiring public announcement but not shareholder approval. The company advises investors to exercise caution, noting that completion remains subject to the stated conditions.