Vinyl Group has announced plans to acquire Concrete Playground, a digital city guide covering events in Sydney, Melbourne, Brisbane, Auckland, and Wellington, for $5 million.

The acquisition terms include:

• $3.5 million in cash payment
• $1.5 million in shares (12,676,413 ordinary shares at $0.11833 per share)
• 12-month share escrow period
• $300,000 held in escrow for potential claims

Key Business Details:

• Concrete Playground's unaudited revenue: Over $4 million
• Expected pro-forma EBITDA: $1.5 million
• Completion deadline: February 28, 2025
• Founder & CEO Rich Fogarty will depart post-acquisition

The acquisition is expected to:

• Complement The Brag Media's market strategy
• Deliver operational efficiencies
• Accelerate group-wide positive cash flow by six months

Completion depends on standard conditions including:

• Finalizing Share Sale Agreement
• Due Diligence completion
• Obtaining necessary shareholder ASX/ASIC approvals
• No material adverse changes before completion

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