LEAF Mobile Announces Definitive Agreement to Acquire Truly Social Games

VANCOUVER, BC, June 22, 2021 /CNW/ – LEAF Cell Inc. (TSX: LEAF) (OTC: LEMLF) (“LEAF” or the “Firm“) Canada’s main free-to-play cellular sport group, publicizes that additional to its press launch on March 9, 2021, it has entered right into a definitive settlement to amass Really Social Video games (“TSG“), an progressive developer and writer of cellular video games headquartered in Vancouver, B.C., Canada (the “Acquisition“).

Leaf Cell emblem (CNW Group/Leaf Cell Inc.)

The Acquisition advances LEAF’s development via M&A, executing on a core pillar of LEAF’s technique. The Firm beforehand acquired unbiased gaming studios LDRLY and East Facet Video games (“ESG“) in 2020 and 2021 respectively. The acquisition of TSG provides one other growth studio with a powerful observe report of success and experience using the IdleKit expertise platform for video games similar to Archer: Hazard Cellphone, which was nominated for Finest Cell Recreation on the 2021 Canadian Recreation Awards.

Acquisition Highlights

  • Provides extremely expert staff of ~50 throughout 2 TSG studios (Vancouver and Minsk), increasing LEAF’s cellular sport growth capability.

  • Confirmed success as an IdleKit growth companion on Archer: Hazard Cellphone revealed by LEAF studio, ESG.

  • LEAF will initially purchase 20% of TSG in change for an preliminary funding of as much as $3.0 million which shall be utilized by TSG to develop 4 new sport titles with 2 of the titles scheduled for world-wide launch in second half of 2021 that shall be revealed by ESG.

  • The remaining possession curiosity shall be acquired in as much as 2 tranches based mostly on income targets as set out in earlier acquisition information releases on March ninth, 2021. With achievement of income targets, LEAF anticipates that it might generate roughly $60 million in income on an annualized foundation*

*there could be no assurance or assure that such income targets shall be achieved or that such annualized income thresholds shall be met, whether or not in entire or partly.

“We’re happy to formalize our beforehand introduced acquisition of Really Social Video games. TSG will add a really proficient group of cellular sport builders to our group of studios and permit us to extend our growth capability as we execute on our development technique,” stated Darcy Taylor, Chief Govt Officer of LEAF. “The IdleKit platform not solely permits builders to chop down growth time and create immersive idle style video games, but in addition permits us to familiarize ourselves with different proficient studios that will make good additions to LEAF. TSG is a good instance of a profitable and skilled companion that we welcome to the LEAF group.”

“The cellular gaming business is witnessing fast development and globalization. Now we have joined the LEAF group as we see a really sturdy strategic match with our tradition and long-term imaginative and prescient. By becoming a member of LEAF Cell, Really Social Video games beneficial properties extra momentum to proceed to develop and develop our formidable plans and tasks. We sit up for teaming up with the studios throughout the LEAF group and additional deepen the chance to work with a few of the finest within the business”, says Patrick Tougas, Proprietor & Chief Artistic Officer of Really Social Video games.

Any LEAF Shares which are issued within the occasions described earlier acquisition information releases on March ninth, 2021 shall be at a value per share equal to the better of: (A) $0.365 per share; (B) the volume-weighted common closing value of the LEAF Shares on the TSX for the 30 buying and selling day interval instantly previous the issuance of such LEAF Shares; and (C) the minimal issuance value allowable beneath the insurance policies of the TSX.

The Preliminary Buy consideration is meant to be financed with present money balances.

Concurrent with the completion of the Preliminary Buy, a nominee of LEAF shall be appointed to TSG’s board of administrators.

Completion of the transactions described above are topic to quite a few circumstances, together with however not restricted to the receipt of all needed prior approvals, together with that of the TSX as required.

ABOUT TRULY SOCIAL GAMES

Really Social Video games is a dynamic group of parents, with workplaces in Vancouver, Portland, and Minsk. One large staff, working across the globe to make the very best leisure experiences. Based in 2015 by Cooper DuBois and Patrick Tougas, the corporate got down to construct video games that interact and contain gamers from the very first click on. With merchandise similar to Planet Gold Rush, Gold Mania, Invincible Hero, Idle Browsing, Bomb Brawl! and Draw A Stickman: AR, Really Social Video games created a strong basis to satisfy that aim.

ABOUT LEAF

LEAF Cell Inc. (TSX: LEAF, OTC: LEMLF) is a number one free-to-play cellular sport group, creating partaking video games that produce enduring participant loyalty. Our studio teams entrepreneurial tradition is anchored in creativity, execution, and development via a various portfolio of authentic and licensed IP cellular video games that embody: Archer: Hazard Cellphone, Bud Farm Idle Tycoon, Cheech & Chong Bud Farm, The Goldbergs: Again to the 80s, It is All the time Sunny: The Gang Goes Cell, Trailer Park Boys Grea$y Cash and the quickly to be launched, RuPaul’s Drag Race Cell Recreation.

We’re headquartered in Vancouver, Canada and our video games can be found worldwide on the App Retailer and Google Play. For additional info, please go to: www.leafmobile.io and be part of our on-line communities at LinkedIn, Twitter, Fb, and Instagram.

Further details about LEAF Cell Inc. is on the market at www.sedar.com.

Ahead Wanting Info

Sure statements on this launch are forward-looking statements, which replicate the expectations of administration relating to the proposed transactions described herein. Ahead-looking statements include statements that aren’t purely historic, together with any statements relating to beliefs, plans, expectations or intentions relating to the long run. Such statements are topic to dangers and uncertainties that will trigger precise outcomes, efficiency or developments to vary materially from these contained within the statements. No assurance could be provided that any of the occasions anticipated by the forward-looking statements will happen or, in the event that they do happen, what advantages the Firm will acquire from them. Specifically, the Firm cautions that the completion of the proposed transactions can’t be predicted with certainty, and there could be no assurance right now that each one required approvals and consents to impact the proposed transactions shall be obtained within the method famous above or in any respect. These forward-looking statements replicate administration’s present views and are based mostly on sure expectations, estimates and assumptions which can show to be incorrect. Numerous dangers and uncertainties might trigger our precise outcomes to vary materially from these expressed or implied by the forward-looking statements, together with elements past the Firm’s management. These forward-looking statements are made as of the date of this information launch.

SOURCE Leaf Cell Inc.

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