SAINT JOHN, NEW BRUNSWICK--(Marketwired - Nov. 25, 2015) - Stompy Bot Corporation ("Stompy Bot" or the "Corporation") (CSE:BOT) announces that it intends to issue up to 25,000,000 units of the Corporation (the "Units") at a price of $0.08 per Unit, for total gross proceeds of approximately $2,000,000 (the "Private Placement"). Each Unit will be comprised of one common share (a "Common Share") and one Common Share purchase warrant (a "Warrant"), each Warrant entitling the holder thereof to acquire a Common Share at a price of $0.12 per share for a period of eighteen (18) months from the date of issuance. The Private Placement is scheduled to close on or about December 3, 2015 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange.
The Corporation is also pleased to provide an update with respect to Heavy Gear Assault, its flagship video game.
Heavy Gear Assault currently fully supports eSports based Twitch.tv streaming service. Twitch.tv recently announced that it has more than 1.5 million broadcasters and 100 million viewers per month in 2015. Twitch.tv is the fourth largest source of internet traffic during peak times in the United States behind Netflix, Google, and Apple. Twitch's parent company was acquired by Amazon.com for $970 million US in 2014. Stompy Bot plans to advertise tournaments and hire official Broadcasters on Twitch to feature stream live tournaments. eSports is one of the fastest growing markets in the video game industry and is predicted to hit $465 million by 20171.
Stompy Bot is very excited to be in the middle of the fastest growing segment of the videogames industry. Stompy's flagship eSports title Heavy Gear Assault entered early access in August and is under development for a final release in 2016. James Taylor, President at Stompy Bot, had this to say, "I look forward to sponsored tournaments, cash-prize pools, and massive viewership of Heavy Gear Assault tournaments in 2016. As an old school PC Gamer, I have waited for eSports to go mainstream for many years. The Mech game genre is fiercely competitive - perfect for a successful eSports title like Heavy Gear Assault."
Turner Broadcasting announced in September 2015 that it will bring an unnamed gaming series to television, specifically to the Turner-owned TBS. Arguably one of the most successful eSports title Counter Strike will be featured on the first season of the televised competition2.
Turner's announcement comes on the heels of ESPN magazine's June 22 issue and the article entitled "Resistance is futile: eSports is massive … and growing". A clip from the article reads "Open with a stadium full of screaming fans. Zoom in on the contestants, sweating from the intensity of the competition. Then comes the incredulous reveal: This isn't basketball or boxing or even billiards. It's eSports-and the "athletes" are headset-wearing, energy-drink-guzzling gamers."
According to ESPN, League of Legend's eSports streaming is now second only to the Super Bowl with 27M viewers3.
The videogames industry as a whole has enjoyed significant growth year after year. Now toppling both Hollywood and music combined - worth a staggering $111 billion4. Competition is fierce in today's digital video games with cash prize pools often in the $10s of millions. Stompy Bot looks to announce its first cash prize tournament by Q1 2016.
1 http://www.gamesindustry.biz/articles/2015-02-17-report-esports-revenues-to-hit-usd465m-in-2017
2 http://www.polygon.com/2015/9/24/9392473/esports-league-tbs-counter-strike-global-offensive
3 http://espn.go.com/espn/story/_/id/13059210/esports-massive-industry-growing
4 http://www.theesa.com/wp-content/uploads/2014/11/Games_Economy-11-4-14.pdf
About Stompy Bot Productions
Stompy Bot Productions is a wholly owned subsidiary of publicly traded Stompy Bot Corporation (CSE:BOT) - an independent video game and digital media publisher. Stompy's growth strategy is to become a premier independent multimedia publisher. Their indie philosophy is to identify and acquire unique video game properties, apply innovative technologies, game development expertise, partner with movie studio resources and manage entertainment brands through a global media marketing approach. Stompy Bot is the exclusive Heavy Gear digital games license holder and publisher of Heavy Gear Assault, a next generation PC title using Epic Game's latest Unreal Engine 4 technology. For more information visit www.stompybot.com.
Forward-Looking Information
Certain information set forth in this news release may contain forward-looking information that involve substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
Shares Outstanding: 54,578,457
Contact Information:
James Taylor
1-888-449-4148
jamest@stompybot.com