Backstageplay Inc. announces license agreement and launch of American Music Award winner Daughtry-inspired social games room
VANCOUVER, Sept. 7, 2017 /CNW/ - Backstageplay Inc. (NEX‐TSXV Exchange: BP.H) (the "Company") is pleased to announce that it has finalized its first commercial license agreement with American Music Award winner Daughtry, where it will launch and manage a Daughtry-inspired and branded social gamesroom on its social gaming platform at daughtry.backstageplay.com. Revenue generated from the Daughtry gamesroom will be shared equally by the parties, after certain agreed expenses. The Daughtry-inspired games room will launch in mid-September and will be promoted by the band through social media throughout the fall and throughout their 2018 touring season.
Daughtry is an American rock band formed and fronted by namesake Chris Daughtry, who was a finalist on the 5th season of American Idol. Their self-titled debut album was released in November 2006 and reached number one on the Billboard 200. The album produced four Top 20 hits on the Billboard 100 and Chris Daughtry who with current band members Josh Steely, Brian Craddock, Josh Paul, Elvio Fernandes and Brandon Maclin have earned four Grammy Award nominations, won 4 American Music Awards and brought their emotionally resonant music to sold out arenas in South Africa, Singapore and the Philippines.
"We are delighted to have reached the point where we are commercializing our social gaming concept for the music industry into a reality through the launch of our first band Daughtry," said Scott White, Backstageplay's CEO. "Daughtry's alternative rock style blends perfectly with our existing gamification content. We were delighted to have hosted Chris and the rest of the band in Toronto while they were in town during their summer tour and we look forward to working with them as we work on new ways to enhance engagement with their fans."
As part of the compensation working with the Company, it has granted stock options to Chris Daughtry to purchase up to 200,000 common shares, exercisable up to and including September 7th, 2022, at an exercise price of $0.20 per share. The stock options are subject to the terms of the Company's Stock Option Plan and any necessary regulatory approvals.
"As an artist I am constantly looking for cutting edge and innovative new ways online to communicate with my fans and keep them engaged, informed and rewarded for their loyalty," commented Chris Daughtry. "Backstageplay offers just that, all in one space. I am looking forward to working together with the team at Backstageplay in developing and promoting my games through social media over the coming months."
Please visit our website at www.backstageplay.com, where you can find a short video and a corporate presentation. Please also visit the Daughtry games room at www.daughtry.backstageplay.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur are "forward-looking statements". Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. Factors that may cause actual results to vary from those made in the forward looking statements described in this document include: timing of completion; changes in demand and prices for services; delays in obtaining approvals, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments;. This list is not exhaustive of the factors that may affect the forward looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the companies' forward-looking information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Backstageplay Inc.
Scott White, CEO, +1 (416) 704-6611, [email protected]
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