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EDMONTON, Feb. 17, 2016 /CNW/ - eQube Gaming
Limited (TSX-V: EQG) ("eQube" or the "Company")
announced today it entered into a software licensing agreement (the
"Agreement") with Teknobingo Scandinavia AS ("Teknobingo").
Under the terms of the Agreement, eQube will have the right to
distribute and license Teknobingo's software under the eQube brand,
as part of a suite of eBingo products for global markets, with an
initial focus on the United
Kingdom and Ireland. eQube sees significant potential
value in deploying the Teknobingo software in strategically
important existing and future markets.
This software licensing agreement replaces eQube's earlier
non-binding letter of intent ("LOI") to acquire all of the issued
and outstanding shares of Teknobingo.
Headquartered in Oslo,
Teknobingo is a leading eBingo solutions provider in Norway.
Teknobingo's software is deployed in Scandinavia with some unique
and innovative features of significant interest to the
international bingo market.
Kent Tong, CEO and Director,
commented: "eQube's goal is to become the leading provider of
technology and operational tools in the global charitable and
community gaming markets. We have been working with
Teknobingo over the last year and we are confident that the
software will be effective in growing revenue in strategically
important European markets. Teknobingo software is a great
addition to our eBingo solutions toolkit."
About eQube Gaming Limited ("eQube"):
eQube is a leading provider of community and charitable gaming
solutions for charitable and commercial gaming facilities. eQube
has a majority market share of the Canadian regulated eBingo
market, is the leading provider to the Irish digital bingo market
and now operates the largest linked bingo game in Western
Canada. Current solutions, consisting of commercial eBingo,
linked bingo, social games and ancillary systems, are deployed in
North America and Europe. eQube's open platform suite of tools
provides customers with new revenue channels to deliver and
enhance traditional bingo income for lottery, tribal and other
gaming organizations.
eQube has been offering its charitable gaming solutions to
provincial gaming authorities and private industry since its
inception in 1999. Its registered and head office is in
Edmonton, Alberta. eQube is listed
on the TSX Venture Exchange under the symbol EQG. For more
information visit: www.eqube.com.
Disclaimer in Regards to Forward-Looking Statements
This news release contains forward-looking statements and
information ("forward-looking statements") within the meaning of
applicable securities laws and is based on the expectations,
estimates and projections of management of eQube as of the date of
this news release, unless otherwise stated. The use of any of the
words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify
forward-looking statements. Such forward-looking statements
are provided for the purpose of providing information about
management's current expectations and plans relating to the future.
Investors are cautioned that reliance on such information may not
be appropriate for other purposes, such as making investment
decisions. Forward looking information provided in this news
release is also based on certain assumptions regarding expected
growth, results of operations, performance and business prospects
and opportunities. Accordingly, readers should not place
undue reliance on the forward-looking statements contained in this
news release.
Since forward-looking statements addresses future events and
conditions, such information by its very nature involves inherent
risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks. These risks include unsatisfactory due
diligence, or the inability to negotiate a definitive agreement
and/or obtain necessary regulatory and third party approvals.
Readers are cautioned that the foregoing list of factors is not
exhaustive. Additional information regarding some of these risks,
expectations or assumptions and other factors may be found in
eQube's filings with the Canadian securities regulators, available
at www.sedar.com. The reader is cautioned not to place undue
reliance on these forward-looking statements. The forward-looking
statements contained in this news release are made as of the date
hereof and eQube undertakes no obligations to update publicly or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless so required by
applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE eQube Gaming Limited