LOS ANGELES, CA-- August 21, 2013 - Writers' Group Film Corp. (OTCQB: WRIT) is pleased to announce the closing of their Share Exchange Agreement (the "Agreement") with Amiga Games Inc. ("AGI"), a company that licenses classic video game libraries and republishes the most popular titles for smartphones, modern game consoles, PCs, and tablets. AGI leverages the intellectual property of Amiga Inc., and builds on the "Amiga" brand and technology to create new revenue from publisher's dormant game libraries. The agreement is for Writers' Group to receive 100% ownership of the common shares in Amiga Games Inc., in exchange for 500,000,000 shares of common stock of Writers' Group Film Corp. with a six month restriction period.
Patrick Roberts will continue in his role as President and Chief Operating Officer of AGI, and assist with the company's strategic expansion. Patrick has over 30 years of experience developing software for the entertainment industry. In 2003 he founded Lower Mars, one of the first third-party mobile developers, and with two partners grew it into a $16 million dollar company in less than 3 years. Lower Mars created and licensed middleware for mobile entertainment products, along with publishing its own entertainment applications. Clients and partners included Amiga, Microsoft, Nokia, Palm, and his former employer, the Walt Disney Company. Mr. Roberts' initial focus is on licensing additional gaming content for AGI and establishing and expanding its sales presence via additional distribution platforms. Mr. Roberts has already begun adding platforms and licensing additional gaming content for AGI; shareholders can track AGI's progress via our expanding gaming catalogue and distribution platform map which will published in the very near future, and updated frequently, via AGI's website www.amigagamesinc.com, the Amiga Games' Facebook page, and Twitter. Mr. Roberts states, "I am very excited about becoming part of the Writers' Group family and expanding Amiga Games' distribution capabilities; we will continue to license additional content and expand our emerging brand into new markets."
Eric Mitchell, CEO of Writers' Group Film Corp., summarizes: "The opportunity to expand the AGI retro-gaming business into the rapidly expanding global internet device market was very apparent after my visit with Mr. Roberts and the Amiga Games team a few short weeks ago. I believe the retention of Mr. Roberts and his team is an excellent first step to establishing a successful expansion into the retro-gaming market place. Patrick's diverse exposure to different types of products and his extensive network in the software and mobile application development market will no doubt prove to be a valuable asset to the company."
The Company would also like to draw attention to recent developments and summarize future expectations with regards to the Amiga Games, Inc. purchase as follows:
-Management revenue forecasts include $1.25 million in revenues during the first twelve months following the close of the Amiga Games purchase. The revenues are comprised of advances from gaming distributors, retail sales, and developer fees.
-Writers' Group, Amiga Games, and Front Row Networks are currently creating an enhanced online presence via inter-connected websites, Facebook, Twitter, and other social networking services which will allow for more efficient updates to the investing community.
-Recent developments and impending corporate action will ensure Amiga Games has laid the ground work to propel its licensed gaming catalogue into the all-important 2013 holiday retail season.
-In the age of constant Internet consumption, the geeky film audience and video-gamer demographic known as the "fanboy" is enjoying an unprecedented influence over the type of films and entertainment that is being produced and released by Hollywood. Front Row Networks will develop concert and music based content that can be marketed in an organic and synergistic fashion to the Amiga Games' consumer and "fanboy" to take advantage of this phenomenon.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in Writers' Group Film Corp.'s latest 10-Q filed August 16, 2013. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Amiga is the registered trademark of Amiga, Inc. in the U.S. and other territories, Amiga Inc. Trademarks and Software have been licensed to Amiga Games, Inc. for mobile devices under a Software and Trademark License Agreement. All rights reserved. All other trademarks belong to their respective owners.
Writers' Group Film Corp.
Amiga Games Inc.
SOURCE: Writers' Group Film Corp.