Financial services group Firstfolio has signed a licensing deal with Premium Mortgage Group (Premium).
Under the terms of the agreement Firstfolio will offer its lending and financial service products through Premium's offices on Australia's east coast.
Firstfolio will issue 1.5 million company shares to Premium that will be subject to voluntary escrow until the groups' reach settlement of $25 million.
In addition, Firstfolio may issue a further 1.5 million performance rights to Premium which may convert into Firstfolio shares if Premium achieves certain performance criteria.
Firstfolio's agreement marks the latest in a spate of expansions of the group's distribution footprint on Australia's eastern seaboard.
In September the group announced plans to acquire the mortgage management portfolio of Capital First for about $1.8 million.
This follows on from deals with Blue Coast Finance and Lawfund Australia.
In March this year Firstfolio signed a joint venture with Blue Coast Finance. The deal with Blue Coast Finance will see Firstfolio's lending and financial services products distributed in key regional markets through Blue Coast's offices.
Firstfolio owns 82 per cent of Lawfund.
