TORONTO, ONTARIO--(Marketwired - Jul 23, 2015) - Imperus Technologies Corp. ("Imperus" or the "Company") (TSX VENTURE:LAB)(ISX.F)(FRANKFURT WKN:A12B58) reports that following the acquisition of Diwip Ltd. ("Diwip"), Imperus has dedicated resources towards focusing on its Social Gaming business and assessing the short and long term opportunities that would bring value to the Company's shareholders.
Diwip continues to be a strong performer in the social casino market, maintaining a position in the range of 32-34 overall on Facebook as a Top Grossing Games App. Mobile continues to be a major growth opportunity for Diwip and initial results have indicated that the mobile sector has the potential to contribute significantly to the growth of Diwip.
Diwip has demonstrated its ability to create and maintain highly profitable Facebook apps and as a result, additional developments are under way to launch further products on Facebook. Diwip will also release further products on the iOS and Android platforms this summer. Amongst these new product lines, Diwip will be launching its much anticipated "Best Vegas Slots" brand on Facebook, iOS and Android platforms tailored for Diwip's VIP high value players.
In addition to Best Casino brand, Diwip continues to experience growth with its Slotsclub and BingoTrip brands. Slots Club can be found at the following link: www.diwip.com/slotsclub and Bingo Trip can be found at: www.diwip.com/bingotrip
Imperus is currently in discussions with additional social gaming companies. Imperus believes further acquisitions will provide synergies that will accelerate the company's growth in this market. These synergies include, but are not limited to, the expansion of geographies, access to a larger base of players to market existing games to, and the adoption of additional highly profitable applications that Diwip's current 25 million users can enjoy.
Moving forward, it is the intention of Imperus to focus on Social Gaming and the opportunities this sector represents, either through the organic growth of its B2C business, partnerships with other publishers and distributors of content, and further acquisitions. Vast will shift its focus of developing hidden object games to social games to complement Diwip's business. Imperus will begin development of technologies to complement and enhance the product lines of Diwip, and focus on additional services that will benefit its social business.
Daniel Kajouie, President and CEO of Imperus stated "Expansion of regulation in real money gambling continues to pose significant challenges. The United States has so far regulated limited types of games, within very small states, such as Delaware and New Jersey, where revenue opportunities are limited and the market is over-saturated." Mr. Kajouie went on to say "On the other hand, Social Gaming continues to prosper and experience exponential growth. We are at the right place and the right time with the right team to take advantage of these opportunities". Mr. Kajouie added "I truly believe our pivot to Social is the right decision for Imperus as I am confident that, by combining what we have learned over the past 15 years in Real Money gaming with our newly acquired social team, Imperus will create more value for our shareholders, both in the short term and long term".
Please visit Imperus' new corporate website at www.Imperus.com
Imperus is pleased to welcome Deborah Battiston as the company's new interim Chief Financial Officer.
Deborah Battiston holds a CPA-CGA, ICD.D and a BA in Economics from the University of Guelph. Ms Battiston has over 25 years of financial management experience with extensive public company experience. She has served as CFO for a multitude of public resource sector and technology companies and has managed the financial departments of numerous successful international and domestic organizations through extreme and rapid growth.
The appointment of Ms. Battiston follows the resignation of Ian Campbell as Chief Financial Officer of Imperus. The management and board of Imperus would like to thank Mr. Campbell for his service and the contributions he has made to the company in his role of Chief Financial Officer.
The Company has received a waiver from its lenders in connection with certain operational and financial covenants set forth in its credit agreement dated January 30, 2015.
The Company has made the third payment related to its acquisition of all of the issued and outstanding shares of Vast Studios Inc. ("Vast"). The acquisition transaction closed on July 22, 2014 pursuant to a share purchase agreement with the founders and shareholders of Vast, (the "Sellers") dated July 21, 2014 (the "SPA"). Pursuant to the terms of the SPA, Imperus has made the second scheduled payment to the Sellers of an aggregate of C$50,000 cash and C$50,000 by the issuance of 106,608 common shares of Imperus at a price of C$0.469 per share.
Imperus Technologies Corp., the parent company of Diwip, is a developer of social and mobile gaming for PC, Mac, iOS and Android platforms. Diwip designs, develops and distributes its top ranked social casino-themed games within online social networks (such as Facebook) and mobile platforms (such as Android or iPhone). All of Diwip's games are free to play and generate revenue primarily through the in-game sale of virtual coins.
NEITHER 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.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute "forward looking statements" which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as "may'', "will'', "expect'', "believe'', "plan'' and other similar terminology. These statements include, but are not limited to, the future performance of Imperus and its subsidiaries; the planned shift of the Company to focus exclusively on social gaming and the planned initiatives of Imperus and Diwip. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the company to finance the Acquisition and enter into definitive documentation, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Imperus or the Acquisition target operates. The foregoing list of factors is not exhaustive. Please see the Company's short form prospectus dated March 27, 2015, the Company's Annual Information Form dated December 6, 2014 and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking statements, whether a result of new information, future results or otherwise, except as required by law.