PopReach Corporation Provides Update Following Successful New Listing on the TSX Venture Exchange
Toronto headquartered mobile gaming company well positioned for growth
TORONTO, July 8, 2020 /CNW/ - (TSXV: POPR) – PopReach Corporation ("PopReach" or the "Company"), a growing acquirer of mobile gaming properties, is pleased to report that it commenced trading today on the TSX Venture Exchange as a Tier 1 Issuer.
PopReach is a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises. With 12 franchises and over 120 employees between their Toronto, Vancouver and Bangalore offices, PopReach drives growth through a combination of investment in existing franchises and new acquisitions.
"We are very pleased to be listed on the TSX Venture Exchange. This milestone provides us increased access to capital which will drive our growth strategy," said Jon Walsh, Co-Founder and CEO of PopReach. "We are a different kind of mobile gaming company. We don't try to build new hit games; our organic growth is driven by investing in proven franchises and focusing on user optimization and retention and operating cost reductions. We minimize risk through a disciplined approach to identifying and executing acquisitions coupled with maintaining a diverse portfolio," added Mr. Walsh.
PopReach is well positioned in the $90B mobile gaming market1, which is expected to grow at compound annual growth rate of 14% between 2020 and 20252. Mobile games account for 33% of all mobile app downloads and 74% of in app spending3. There are over 200 million mobile gamers in the United States alone4.
"The franchises we acquire already have established market fit, and existing user bases which we can leverage. As the mobile market continues to mature and expand, the number of aged games grow, so we see a continuous pipeline of acquisition opportunities," explained Mr. Walsh.
PopReach, an early stage company, generated Revenue of approximately US$18MM in 2019 and is cash flow positive5. Its portfolio of 12 game franchises, distributed through the Apple App Store, Google Play, Amazon Appstore and Facebook Canvas digital platforms, are played by more than 1.2 million monthly active users. In 2020, the Company is targeting meaningful top and bottom-line growth through a combination of ongoing cost reductions and game optimizations, which aim to increase player lifetime value.
The Company founders bring decades of entrepreneurship and industry experience to the table, collectively responsible for producing dozens of free-to-play games and building analytics technologies that have been included in hundreds of millions of downloaded mobile games. Jon Walsh, CEO, has worked with numerous game publishers, studio founders and executives during his time at both Upsight and Fuse Powered, where he also published several #1 ranking mobile games. Christopher Locke, President and COO, built and directed teams responsible for industry defining free-to-play mobile games, including Smurfs' Village and Kim Kardashian: Hollywood, which have generated hundreds of millions of dollars in revenue. Locke was also the founder and CEO of Blammo Games, which was acquired by Glu Mobile (NASDAQ: GLUU), where he later served as Senior Vice President.
"Our executive team is comprised of industry veterans with an unparalleled track record of success, and our teams in Toronto and Bangalore are world class. PopReach is uniquely well positioned to capitalize on industry trends, and intends to create significant value for all of its stakeholders," added Mr. Locke.
Subscribe to PopReach news alerts.
______________________ |
|
1 |
|
2 |
|
3 |
App Annie - State of Mobile 2019 Report |
4 |
https://influencermarketinghub.com/mobile-gaming-statistics/ |
5 |
PopReach's financial statements and management discussion and analysis for the period are available on PopReach's SEDAR profile at www.sedar.com, as Schedules "C" and "D" to its Filing Statement dated June 26, 2020. |
About PopReach Corporation
PopReach is a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises. The company has acquired 12 successful game franchises competing mainly in the North American game market, including Smurfs' Village (IP under license), Kitchen Scramble, Gardens of Time, City Girl Life, War of Nations and Kingdoms of Camelot. The company's franchises are played by over 1.2 million monthly active users. PopReach, headquartered in Toronto, employs a team of over 120 experts in Toronto, and Bangalore.
Cautionary Statement Regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements and forward-looking information under applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information include, but are not limited to, statements with respect to and the business, financials and operations of the Company. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements and future events to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the public documents of the Company available at www.sedar.com . Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Investors are cautioned undue reliance should not be placed on any such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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.
SOURCE PopReach Corporation
PopReach Corporation, www.popreach.com, Jon Walsh, [email protected]
Share this article