TORONTO, ONTARIO--(Marketwired - Oct. 31, 2017) - Tangelo Games Corp. ("Tangelo" or the "Company") (TSX VENTURE:GEL) continues to make progress on redeveloping its portfolio of games from its Tangelo Spain business into Unity. Tangelo will begin releasing individual slots games in mid-November and replacing each of them once as they outperform the old flash versions. Bingo Rider is expected to be moved from its current quality assurance and testing stage into wider release in December. The new Mundijuegos app featuring the redeveloped suite of Tangelo Spain games is expected to be released by mid Q1 2018.
Tangelo's first new US facing app is "Best Jackpot", which will deliver a unique jackpot-based gaming experience, is expected to be released by the end of Q1 2018.
Tangelo President Vicenc Marti commented: "We are pleased with the progress of our migration to Unity and we believe that our new product pipeline is strong. While we believe that prospects for our new, innovative app are solid, we anticipate that super normal growth will come from a new platform, and this is where we are focusing our efforts for the future. Looking back at the history of the industry, you can plot its growth on the introduction of new platforms. First Facebook canvas kickstarted the industry, then mobile games created another wave of growth. When another new platform comes in, we'll see another wave of innovation. We are making some bets on these platforms and hope to have more to announce soon."
Tangelo Games Corp., the parent company of Tangelo Israel and Tangelo Spain, is a developer of social and mobile gaming for desktop, iOS and Android platforms. Tangelo Israel and Tangelo Spain design, develop and distribute their top ranked social casino-themed games within online social networks (such as Facebook) and mobile platforms (such as Android and iPhone). All of the Tangelo Israel and Tangelo Spain games are free to play and generate revenue primarily through the in-game sale of virtual coins.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute "forward looking statements" which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as "may", "will", expect", "believe", "plan" and other similar terminology. These statements include, but are not limited to, statements with respect to the future business and operations of the Company, the ability of the Company to release new and successful games, the financial results of the Company and its subsidiaries and the future prospects of the Company. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. The forward-looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, general economic, market or business conditions and future developments in the sectors of the economy in which the businesses of Tangelo operate. The foregoing list of factors is not exhaustive. Please see the Company's short form prospectus dated March 27, 2015, the Company's Annual Information Form dated November 11, 2015 and other documents available under the Company's profile on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward-looking statements, whether a result of new information, future results or otherwise, except as required by law.
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