CONTAGIOUS LICENSES GOAL TIME SOFTWARE PLATFORM TO MANYX INTERACTIVE LTD.
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
VANCOUVER, B.C., January 15, 2015 – Contagious Gaming Inc. (TSX-V: CNS), (“Contagious Gaming” or the “Company”) is pleased to announce that the Company, through its wholly-owned subsidiary Contagious Sports Limited (“Contagious Sports” or the “Licensor”), has entered into a license agreement with Manyx Interactive Ltd. (“Manyx” or the “Licensee”) to provide its proprietary Goal Time software platform (the “License Agreement”). The License Agreement grants Manyx the right to distribute Goal Time to licensed gaming operators in agreed upon African jurisdictions (the “Territories”). Any Goal Time distribution agreement entered into by Manyx is subject to the approval of Contagious.
In addition to providing the Licensee with the Goal Time software platform, Contagious is also to provide live sports data and certain support services related to maintaining the software platform. Pursuant to the License Agreement, Contagious, as the Licensor, is entitled to:
- a one-time licensing fee; and
- royalty payments based on gross revenues.
Peter Glancy, CEO and Director of Contagious, commented: “We are pleased to announce the licensing our Goal Time software platform into significant jurisdictions, as the Territories are among the English Premier League’s (“EPL”) largest global audiences. The structure of this particular agreement allows us to focus on operating Goal Time in our core markets, while at the same time deploying the Goal Time software platform in other key soccer markets around the world.”
Manyx is a provider and aggregator of content to mobile and telecom operators. Manyx is licensed and regulated by the Nigerian Communications Commission, which enables them to provide content to Mobile Network Operators (“MNO”) which include MTN Group, Airtel Africa, Glo Mobile, and Etisalat. The Territories covered in the License Agreement represent combined MNO subscribers of over 213 million.
This is a licensing agreement only and Contagious will not be operating in any new jurisdictions. The royalty payments are not dependent on gaming win or tied to the outcome of any gaming activity but rather a function of tickets sold.
For further information please contact:
Charles Shin, Chairman
Phone: (416) 669-3183
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this news release is considered forward-looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward‐looking information includes, among other things, information with respect to the Company’s beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward‐looking information. The forward-looking information in this news release describes the Company’s expectations as of the date of this news release.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD‐LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.