Imperus Technologies Corp.
TSX VENTURE : LAB

Imperus Technologies Corp.

November 09, 2015 07:02 ET

Imperus Exercises Option to Acquire Akamon Entertainment

TORONTO, ONTARIO--(Marketwired - Nov. 9, 2015) - Imperus Technologies Corp. ("Imperus" or the "Company") (TSX VENTURE:LAB)(FRANKFURT:ISX)(FRANKFURT WKN:A12B58) announces that it has executed the option to acquire all of the issued and outstanding shares of the social gaming company Akamon Entertainment Millennium, S.L. ("Akamon"). The closing of the transaction to acquire Akamon will occur on or before November 16, 2015.

Akamon, the leading developer and operator of social casino games in the Spanish and Latin American markets, grew its unaudited adjusted EBITDA in Q3, 2015 to approximately CAD $1.1 million, an increase of 35% over the same quarter in the prior year. Its Q3 results are consistent with its strong historical track record of year-over-year growth. The Akamon senior management team, who has deep expertise in customer retention, marketing, and game and product development, are expected to remain with the business.

James Lanthier, Imperus CEO, commented: "Akamon continues to perform beyond expectations, and we expect the Akamon acquisition to create meaningful strategic value for Imperus. Our vision for Imperus is to create a leading social casino platform, and we believe that we can accelerate our progress towards this goal by acquiring the right complementary assets and leveraging each acquisition's strengths across the broader business. Akamon perfectly complements Dwip, our U.S. facing business; we will now have what we believe is one of the most geographically diverse customer bases in the social casino market. In addition to its impressive EBITDA growth, we expect Akamon to contribute immediately to Imperus's broader social casino operations. These synergies include world-class game content and industry-leading customer retention technologies.

As announced by Imperus last week, we have secured a commitment to finance and close the Akamon acquisition. We look forward to closing the Akamon acquisition and realizing its strategic benefits."

Vicenc Marti, CEO of Akamon, commented: "We are excited to join Imperus and help drive continued growth. Our EBITDA performance in Q3 2015 reflects our substantial progress over our 2014 performance. Akamon enters Q4 2015, traditionally our strongest quarter, expecting continued growth in both Revenue and EBITDA. Coupled with our recent product and partnership launches, we are excited for Q4."

Akamon Financial Results and Non-GAAP Measures

Imperus has not audited or reviewed the Q3 financial results of Akamon. The Company has included certain Non‐GAAP performance measures, namely EBITDA and adjusted EBITDA, within this press release. The Company believes that, in addition to conventional measures prepared in accordance with GAAP, Imperus and certain investors use this information to evaluate the Company's performance and ability to generate cash, profits and meet financial commitments. These Non‐GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

About Imperus

Imperus Technologies Corp., the parent company of Diwip, is a developer of social and mobile gaming for PC, Mac, iOS and Android platforms. Diwip designs, develops and distributes its top ranked social casino-themed games within online social networks (such as Facebook) and mobile platforms (such as Android or iPhone). All of Diwip's games are free to play and generate revenue primarily through the in-game sale of virtual coins.

Caution Regarding Forward-Looking Information:

Certain statements in this press release may constitute "forward looking statements" which involve 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 statements. When used in this press release, such statements may use such words as "may'', "will'', "expect'', "believe'', "plan'' and other similar terminology. These statements include, but are not limited to, the closing of the Akamon transactions, financing the Akamon transaction and the prospects, operations and success of Akamon going forward. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the company to finance the Acquisition, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Imperus or the Acquisition target 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 December 6, 2014 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 statements, whether a result of new information, future results or otherwise, except as required by law.

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