Writers' Group Film Corp. Closes Share Exchange Agreement With Amiga Games Inc. and Provides Corporate Update
21 Août 2013 - 1:00PM
Marketwired
Writers' Group Film Corp. (OTCQB: WRIT) is pleased to announce the
closing of their Share Exchange Agreement (the "Agreement") with
Amiga Games Inc. ("AGI"), a company that licenses classic video
game libraries and republishes the most popular titles for
smartphones, modern game consoles, PCs, and tablets. AGI leverages
the intellectual property of Amiga Inc., and builds on the "Amiga"
brand and technology to create new revenue from publisher's dormant
game libraries. The agreement is for Writers' Group to receive 100%
ownership of the common shares in Amiga Games Inc., in exchange for
500,000,000 shares of common stock of Writers' Group Film Corp.
with a six month restriction period.
Patrick Roberts will continue in his role as President and Chief
Operating Officer of AGI, and assist with the company's strategic
expansion. Patrick has over 30 years of experience developing
software for the entertainment industry. In 2003 he founded Lower
Mars, one of the first third-party mobile developers, and with two
partners grew it into a $16 million dollar company in less than 3
years. Lower Mars created and licensed middleware for mobile
entertainment products, along with publishing its own entertainment
applications. Clients and partners included Amiga, Microsoft,
Nokia, Palm, and his former employer, the Walt Disney Company. Mr.
Roberts' initial focus is on licensing additional gaming content
for AGI and establishing and expanding its sales presence via
additional distribution platforms. Mr. Roberts has already begun
adding platforms and licensing additional gaming content for AGI;
shareholders can track AGI's progress via our expanding gaming
catalogue and distribution platform map which will published in the
very near future, and updated frequently, via AGI's website
www.amigagamesinc.com, the Amiga Games' Facebook page, and Twitter.
Mr. Roberts states, "I am very excited about becoming part of the
Writers' Group family and expanding Amiga Games' distribution
capabilities; we will continue to license additional content and
expand our emerging brand into new markets."
Eric Mitchell, CEO of Writers' Group Film Corp., summarizes:
"The opportunity to expand the AGI retro-gaming business into the
rapidly expanding global internet device market was very apparent
after my visit with Mr. Roberts and the Amiga Games team a few
short weeks ago. I believe the retention of Mr. Roberts and his
team is an excellent first step to establishing a successful
expansion into the retro-gaming market place. Patrick's diverse
exposure to different types of products and his extensive network
in the software and mobile application development market will no
doubt prove to be a valuable asset to the company."
The Company would also like to draw attention to recent
developments and summarize future expectations with regards to the
Amiga Games, Inc. purchase as follows:
- Management revenue forecasts include $1.25 million in revenues
during the first twelve months following the close of the Amiga
Games purchase. The revenues are comprised of advances from gaming
distributors, retail sales, and developer fees.
- Writers' Group, Amiga Games, and Front Row Networks are
currently creating an enhanced online presence via inter-connected
websites, Facebook, Twitter, and other social networking services
which will allow for more efficient updates to the investing
community.
- Recent developments and impending corporate action will ensure
Amiga Games has laid the ground work to propel its licensed gaming
catalogue into the all-important 2013 holiday retail season.
- In the age of constant Internet consumption, the geeky film
audience and video-gamer demographic known as the "fanboy" is
enjoying an unprecedented influence over the type of films and
entertainment that is being produced and released by Hollywood.
Front Row Networks will develop concert and music based content
that can be marketed in an organic and synergistic fashion to the
Amiga Games' consumer and "fanboy" to take advantage of this
phenomenon.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the
matters discussed in this press release are forward-looking
statements that involve risks and uncertainties that could cause
actual results to differ materially from those predicted by such
forward-looking statements. Investors are cautioned that all
forward-looking statements involve risks and uncertainties,
including, but not limited to, those discussed in Writers' Group
Film Corp.'s latest 10-Q filed August 16, 2013. The company
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Amiga is the registered trademark of Amiga, Inc. in the U.S. and
other territories, Amiga Inc. Trademarks and Software have been
licensed to Amiga Games, Inc. for mobile devices under a Software
and Trademark License Agreement. All rights reserved. All other
trademarks belong to their respective owners.
Writers' Group Film Corp. Rebecca Bieker Phone:
310.461.3737 info@frnetworks.com Website: www.FRNetworks.com
Amiga Games Inc. Phone: 425.310.2146 info@amigagamesinc.com
Website: www.AmigaGamesInc.com
WRIT Media (PK) (USOTC:WRIT)
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