VANCOUVER, BC--(Marketwired - January 19, 2017) - Liquid Entertainment Ltd. (the "Company" or "Liquid") is pleased to announce the signing of an option agreement to acquire up to 100% of the assets of gaming company Installment Entertainment Inc. ("Installment").
Under the terms of the option agreement, the Company will advance Installment an undisclosed amount of cash and stock of Liquid within 15 days of signing the option agreement.
Additionally, Liquid will invest an undisclosed amount into Installment's proprietary gaming engine and to license gaming rights to key intellectual properties.
As part of the agreement Liquid will assume management control of Installment overseeing the day to day operations of the company to develop, produce and distribute episodic gaming content, digital comics and ancillary promotional and merchandising properties.
Installment's first game under the Liquid banner will be an episodic narrative game, digital comic and associated merchandising based on the classic Monkey King legend from Global Star Productions, producers of Chow Yun-Fat and Donnie Yen's The Monkey King: Havoc in Heaven's Place directed by Poi-Soi Cheang. When released this film had the highest grossing opening day in China and is only the third film to earn more than a billion at the box office in China.
Based on the rich history of the Monkey King stories and legends, Liquid Entertainment will utilize cutting edge technologies to entertain, educate and immerse audiences globally, cross-promoted with Global Star's worldwide franchise of The Monkey King. This is the first of several episodic games by Installment which will have broad international appeal.
CEO of Liquid Entertainment Krysanne Katsoolis states "We are excited to acquire the assets of Installment which we see as a cornerstone strategic acquisition for Liquid. Installment's proprietary gaming tools and licensed IP combined with Liquid's expertise in gaming cinematics is a winning combination."
Installment Entertainment management states "We believe this partnership with Liquid and The Monkey King will be the future of cultural engagement, connecting stories with technology and allowing audiences to engage with content like never before."
Michael Wehrhahn CEO of Global Star Productions and Producer of The Monkey King film states "Installment and Liquid Entertainment is a perfect partnership that understand the brand and offers a platform to engage our fans in a whole new story-telling experience. We are excited and looking forward to this new relationship and the fresh content it will bring to the global Monkey King audience."
About Installment Entertainment Inc.
Installment is engaged in the business of developing story rich, narrative episodic games for licensed properties for the global digital market.
About Liquid Entertainment Ltd.
The Company is a multi-platform, multi-faceted entertainment company dedicated to bringing the best in evergreen content to the world. The Company is an intellectual property aggregator utilizing expert boutique teams to create, produce, and distribute content across all platforms.
Further information about the Company is available under its profile on the SEDAR website www.sedar.com.
This press release may include forward-looking information within the meaning of Canadian securities legislation. The forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this news release and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.