Fatfish Global Ventures AB entered into a sale and purchase agreement to acquire Snaefell Ventures AB for SEK 38.1 million (approximately AUD 5.2 million) on July 20, 2018. Under the terms of consideration, Fatfish will issue 3.81 million common stock. After consideration share issue Snaefell’s existing shareholders will hold approximately 19% of Fatfish. Snaefell Directors, Fredrik Lemmel and Johanna Wollert Mellin will join Fatfish board. The transaction is subject to registration of Snaefell shares in Fatfish’s name and the issuance of new Fatfish shares to Snaefell shareholders. As of July 20, 2018, all the pre-conditions of the agreement have been met. The completion is expected to take place within the next four weeks. Fatfish Global Ventures AB completed the acquisition of Snaefell Ventures AB on February 27, 2019.