SOURCE: Amico Games Corp.

October 30, 2009 09:00 ET

Amico Games Enters Into LOI With Chinese Gaming Company

NORTH YORK, ON--(Marketwire - October 30, 2009) - AMICO GAMES INC. (OTCBB: AMCG) is pleased to announce that it has signed a non-binding Letter of Intent to acquire Galaxy Software Limited. Galaxy Software (privately held) is a leading mobile content developer specializing in mobile games for the growing Chinese telecommunications market.

Amico Games Inc. plans to acquire Galaxy Software Ltd. through a share exchange transaction. Should the proposed transaction close, Amico will acquire Galaxy through the issuance of 54,500,000 of its shares. The LOI is subject to due diligence on the business and affairs of Galaxy Software Ltd. In anticipation of the share exchange, both companies are moving forward with the completion of audited financial statements and preparing a definitive Share Exchange Agreement, which is currently intended to be signed sometime this month.

"We are very happy to be a part of bringing Galaxy Software to the North American capital markets. It is a great company with tremendous upside and we are confident that our shareholders will be very pleased with this development," said Emad Petro, President of Amico Games Corp.

Notice regarding forward-looking statements

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. There can be no assurances that the anticipated share exchange between Amico Games Inc. and Galaxy Software Limited will close or that a definitive agreement will be entered into. See Amico Game's filings with the United States Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

Contact Information

  • Contact:
    Amico Games Corp.
    1 888 512 9124
    246 Horsham Avenue
    North York, Ontario
    Canada, M2N 2A6