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EDMONTON, Feb. 17, 2016 /CNW/ - eQube Gaming Limited (TSX-V: EQG) ("eQube" or the "Company") announced today it entered into a software licensing agreement (the "Agreement") with Teknobingo Scandinavia AS ("Teknobingo"). Under the terms of the Agreement, eQube will have the right to distribute and license Teknobingo's software under the eQube brand, as part of a suite of eBingo products for global markets, with an initial focus on the United Kingdom and Ireland. eQube sees significant potential value in deploying the Teknobingo software in strategically important existing and future markets.
This software licensing agreement replaces eQube's earlier non-binding letter of intent ("LOI") to acquire all of the issued and outstanding shares of Teknobingo.
Headquartered in Oslo, Teknobingo is a leading eBingo solutions provider in Norway. Teknobingo's software is deployed in Scandinavia with some unique and innovative features of significant interest to the international bingo market.
Kent Tong, CEO and Director, commented: "eQube's goal is to become the leading provider of technology and operational tools in the global charitable and community gaming markets. We have been working with Teknobingo over the last year and we are confident that the software will be effective in growing revenue in strategically important European markets. Teknobingo software is a great addition to our eBingo solutions toolkit."
About eQube Gaming Limited ("eQube"):
eQube is a leading provider of community and charitable gaming solutions for charitable and commercial gaming facilities. eQube has a majority market share of the Canadian regulated eBingo market, is the leading provider to the Irish digital bingo market and now operates the largest linked bingo game in Western Canada. Current solutions, consisting of commercial eBingo, linked bingo, social games and ancillary systems, are deployed in North America and Europe. eQube's open platform suite of tools provides customers with new revenue channels to deliver and enhance traditional bingo income for lottery, tribal and other gaming organizations.
eQube has been offering its charitable gaming solutions to provincial gaming authorities and private industry since its inception in 1999. Its registered and head office is in Edmonton, Alberta. eQube is listed on the TSX Venture Exchange under the symbol EQG. For more information visit: www.eqube.com.
Disclaimer in Regards to Forward-Looking Statements
This news release contains forward-looking statements and information ("forward-looking statements") within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of eQube as of the date of this news release, unless otherwise stated. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward looking information provided in this news release is also based on certain assumptions regarding expected growth, results of operations, performance and business prospects and opportunities. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this news release.
Since forward-looking statements addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These risks include unsatisfactory due diligence, or the inability to negotiate a definitive agreement and/or obtain necessary regulatory and third party approvals.
Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information regarding some of these risks, expectations or assumptions and other factors may be found in eQube's filings with the Canadian securities regulators, available at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and eQube undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE eQube Gaming Limited
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For further information: For investor or media inquiries, please contact: Danielle Thorkelsson, CA, Chief Financial Officer, eQube Gaming Ltd. (EQG:TSX-V), Email: firstname.lastname@example.org; Colwell Capital Corp., Graeme Dick, BMgmt, Email: email@example.com, Telephone: 1-403-561-8989, Web: colwellcapital.com