FANTASY 6 Positioned to Acquire Mobile Gamer Developer NFC Games
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FANTASY 6 POSITIONED TO ACQUIRE MOBILE GAME DEVELOPER NFC GAMES
Vancouver, British Columbia, Canada (Wednesday, July 13, 2016) - Fantasy 6 Sports Inc. (Fantasy 6 or the Company) (CSE: FYS)(FRANKFURT: 6F6 - WKN: A2AKL8)(OTC: FNTYF) is positioned to expand its operations and global market reach in sports fan engagement by signing a Letter of Intent to acquire a 100% interest in NFC Games ("NFC"), the developer and producer of unique mobile games targeting the fantasy sports industry.
Research conducted by the Fantasy Sports Trade Association has shown that of the more than 57 million fantasy sports users in Canada and the United States, over 61% are consuming fantasy predominantly through mobile and other emerging platforms. With over 165 million mobile gamers in America generating over $4.5 billion in revenues, the mobile gaming sector is an ideal vertical for Fantasy 6 to expand into. The natural cross section of fantasy sports users and mobile sports gamers also makes NFC an ideal acquisition for Fantasy 6 as the Company expands operations into new fantasy sports verticals, strengthens its mobile technology offerings, and diversifies into new revenue streams.
As a sports, entertainment and technology company that is inspired by opportunities to engage sports fans in new and exciting ways, were very bullish on NFC and what their team will bring to our suite of games, contests and other fan engagement platforms, said Shafin Diamond Tejani, Chair & Chief Executive Officer of Fantasy 6. Pending our final due diligence and the other requisite steps in the process, were very much looking forward to the acquisition, one which we believe is a natural next step for Fantasy 6 as we consolidate our core competencies and diversify our fan engagement strategy.
NFC has developed an innovative mobile game for iOS and Android platforms that offers a unique blend of mobile video game play and fantasy sports game play. The Vancouver-based production team behind NFC carries an impressive set of game credentials and has delivered successful titles such as Boximals and PacMan Bounce, both featured by the Apple Store and Google Play with over 10 million downloads.
This move allows us to complete our premier mobile fantasy football product and continue developing additional titles designed to push the boundaries of mobile play, said Manny Padda, Founder of NFC. Given its vision for global fan engagement, we see Fantasy 6 as being the ideal partner to elevate the international reach of NFC and ensure the success of future titles going forward.
Under the terms of the Letter of Intent, upon closing of a definitive agreement, Fantasy 6 will acquire a 100% interest in NFC. The securities to be issued in connection with this transaction will be subject to a hold period and certain additional pooling restrictions. The transaction remains subject to completion of due diligence, final documentation, regulatory approval, and any additional approvals that may be required. As the transaction is considered non-arm's length due to FYS and NFC having a common and significant shareholder, the transaction will be subject to the requirements of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions.
ABOUT FANTASY 6 SPORTS INC. (CSE:FYS)
Fantasy 6 is a sports, entertainment and technology company which produces games, contests and other related products and experiences for fans around the world. Fantasy 6 Sports Inc. currently offers a wide variety of daily, weekly and season-long contests across multiple professional sports leagues. The Company also develops interactive fan engagement platforms for corporations, media, broadcasters and not-for-profit societies and charities. The Companys mission is to create new dimensions in fan engagement, experience and entertainment and our vision is the most knowledgeable, passionate and engaged generation of fans in history.
ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)
The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets. The CSE has not reviewed, nor approved or disapproved the content of this press release.
For further information about the company, please contact:
RAY WALIA, Head of Operations
Email: ray(at)fantasy6.com
Telephone: 604-283-9166
FORWARD-LOOKING INFORMATION:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Fantasy 6. Forward-looking information is based on certain key expectations and assumptions made by the management of Fantasy 6, including future plans for acquisitions. Although Fantasy 6 believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Fantasy 6 can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Fantasy 6 disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.
Leseranfragen:
Fantasy 6 ist ein führender Technologie-Anbieter und Spieleentwickler von Fantasiesport.
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Datum: 13.07.2016 - 09:14 Uhr
Sprache: Deutsch
News-ID 483006
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