LAS VEGAS, Oct. 05, 2016 (GLOBE NEWSWIRE) -- HeadsUp Entertainment International Inc. (Pinksheets:HDUP) announces today that it has executed and closed the Asset Contribution Agreement to acquire the assets of Fanlogic LLC, a Daily Fantasy, social gaming and eSports company. Fanlogic owns and operates proprietary software and is prepared to launch social fantasy sports and social casino games for brands to acquire, engage, and interact with their customers.
Through the Asset Contribution Agreement, HeadsUp issued 60 million restricted shares at a price of $0.06 per share as consideration for the technology, infrastructure and management team of Fanlogic to implement HeadsUp’s international expansion initiative targeting the 375,000,000 global engaged users of social games and fantasy sports.
Fanlogic’s platforms allow companies to capitalize on leveraging and expanding their customer base using gamification and social marketing tools. HeadsUp will generate revenue through marketing contracts with major brand partners, sports teams, charities and though direct user engagement. Management believes that the social and fantasy games market is an estimated $12.4 billion industry.
Management of HeadsUp further believes that the Asset Contribution Agreement will allow HeadsUp to expand and leverage its existing assets into new markets within the core entertainment, media and gaming sectors. This is the first of a number of announcements that the management and directors look forward to releasing regarding HeadsUp’s business plans aimed at increasing shareholder value.
About Fanlogic.
FANLOGIC is a complete social fantasy platform provider for in-game, daily, weekly, season-long, on-demand Fantasy Poker, eSports or event-driven fantasy games and promotions. Social, free to play fantasy games, for the purpose of customer acquisition and retention, is the company’s core offering. FANLOGIC partners with brand owners, media businesses and licensed gaming operators, to motivate and reward customers while building brand loyalty and revenues. FANLOGIC’s software is built to protect consumer data, meet regulatory compliance, and ensure partner integrity. For more information go to www.fanlogic.com.
About HeadsUp Entertainment International Inc.
HeadsUp Entertainment International Inc. is a global media and entertainment company engaged in the creation of branded entertainment through the development, production and marketing of televised programming based on poker and other entertainment themes. For more information see the Company's website www.headsupentertainment.com.
Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of HeadsUp Entertainment International Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: HeadsUp Entertainment International Inc.