TORONTO, ONTARIO--(Marketwired - Sep 22, 2016) - Tangelo Games Corp. ("Tangelo" or the "Company") (TSX VENTURE:GEL) and Leap Gaming ("Leap") have entered into a partnership agreement under which Leap will be providing its virtual sports turnkey product to Tangelo's social gaming platform. This partnership is a meaningful step taken by both companies as it represents one of the first times virtual sport is deployed as a social gaming product, and will include several innovations designed to optimize Leap's product for social environments. Leap's portfolio will be available across Tangelo's European and Latin American facing social casino environments.
The resulting product, which is already being developed and is planned to be released by the end of the year, will be a 3D virtual sports game adapted to fit social casino players with special social features to provide a more entertaining feeling and an easiest layout to allow faster game play.
Oscar Fonrodona, Tangelo's Managing Director, stated: "I am delighted by this new collaboration with Leap Gaming. Their virtual sports products are truly state of the art and provide an exquisite user experience across all platforms. We are sure that the resultant product will fit very well with our players and our consumer brands and will help both our ability to retain and monetize existing players, as well as open new channels of acquisition".
Yariv Lissauer, Leap Gaming's Chief Executive Officer mentioned: "We are thrilled to partner up with Tangelo Games and provide our virtual sports through their extensive footprint. While our product will complement Tangelo's gaming portfolio extremely well, we will extend our expertise on social gaming through a leading company. We look forward to a long lasting partnership".
About Tangelo Games
Tangelo Games Corp., the parent company of Diwip and Akamon, formerly known as Imperus Technologies Corp., is a developer of social and mobile gaming for PC, Mac, iOS and Android platforms. Diwip and Akamon design, develop and distribute their top ranked social casino-themed games within online social networks (such as Facebook) and mobile platforms (such as Android and iPhone). All of the Diwip and Akamon games are free to play and generate revenue primarily through the in-game sale of virtual coins.
About Leap Gaming
Founded in 2006, Leap Gaming is a developer of state of the art 3D retail, web and mobile games. Leap's product and development teams are located in Israel and its business is based on long lasting partnerships with leading gaming operators as well as on its commitment to achieve great products which beat the industry standard. Leap developed a unified 3D games' generation platform which is capable of creating best of breed, ultra-realistic 3D games in an agile mode. Its gaming applications include virtual sports, casino and casual games. www.leap-gaming.com
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute "forward-looking information" which involves 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 information. When used in this press release, such forward-looking information may use such words as "may", "will", "expect", "believe", "plan" and other similar terminology. Forward-looking information includes, but is not limited to, statements regarding the partnership agreement with Leap; accessing emerging markets; release of new games and the potential performance of such games with Leap. Forward-looking information is provided for the purpose of presenting information about management's current expectations relating to the future events and the operating performance of the Company, and readers are cautioned that such information may not be appropriate for other purposes. The forward-looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Tangelo 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 November 11, 2015 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 information, whether a result of new information, future results or otherwise, except as required by law.
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