eQube Gaming Limited announces major UK contract and finance update
EDMONTON, March 22, 2018 /CNW/ - eQube Gaming Limited (TSX-V: EQG) ("eQube" or the "Company") today is pleased to announce the closing of deal to supply more than 9,300 rugged handheld electronic tablets to ECM Systems Ltd, a division of PlayTech PLC (LSE:PTEC).
The rugged, handheld electronic tablets will be used to update a portion of the estate of handheld bingo tablet devices used in the land-based bingo industry in the United Kingdom.
"We are delighted to partner with ECM Systems to deliver the most versatile and fit for purpose advanced gaming tablet in the market for some of their British customers. We have worked with the team at ECM for many years and have spent more than a year exploring the appropriate solutions that are fit for purpose in one of the most demanding land-based bingo markets in the world, the UK", commented eQube's CEO John Purcell. "The comprehensive testing and vigorous trials performed by ECM reiterate eQube's dedication to our partners and customers as well as product excellence; ensuring that the rugged handheld tablets supplied by eQube deliver superior performance whilst reducing the total cost of ownership over the life span of the products on site in bingo clubs all over the British Isles."
Allen Richardson, Managing Director of ECM Systems said "We have always enjoyed a good working relationship with our colleagues in eQube and, having comprehensively tested the technology, we are delighted to have selected what we feel is the market leading product. eQube's team have invested heavily in a partnership relationship with ECM and have been proactive in ensuring they deliver what we need. This reassures us of what we expect to be a very fruitful ongoing relationship".
eQube also announced the closing of a USD$350,000 secured non-amortizing loan bearing interest at 9% per annum and maturing August 21, 2018. The loan was provided by a company controlled by a director of the Company and is secured by one of the Company's customer contracts.
About eQube Gaming Limited ("eQube")
eQube is a leading provider of electronic bingo (eBingo) systems for land-based gaming operators in commercial and charitable gaming facilities. eQube has the majority market share in the Canadian regulated bingo market as well as substantial presence in the Irish market and operates the linked bingo games in Alberta and Ireland. Current solutions, consisting of commercial eBingo, linked wide area bingo, traditional bingo and automated bingo style electronic games are complemented by enterprise class accounting and back office reporting combined with open platform customer management data tools. eQube's platform provides new and enhanced revenue channels by enhancing the experience, environment and service to our clients' customers.
eQube has been offering its eBingo and related gaming solutions to commercial, tribal, regulatory and charitable customers worldwide 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 may contain 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.
eQube Gaming Ltd. (EQG:TSX-V)
SOURCE eQube Gaming Limited
John Purcell, CEO, Email: [email protected]
Share this article