FORT WORTH, Texas, April 12, 2016 /PRNewswire/ --
Social Play USA - (OTC-QB:SPLY) is pleased to announce that the Company has entered into an agreement with CMGT, Inc. to receive $500,000 in financing to bolster the Company's financial position as they move forward with SocialPlay's strategy to capitalize on the growing cloud based gaming industry.
The Company has established funding to enable the efficient execution of potential opportunities that can contribute substantially to the outlook and future revenues of the Company, while diligently advancing on the development of a revolutionary cloud-based game hosting and management system.
SocialPlay has entered into a promissory note granting the company up to $500,000. The note represents a consolidation of previous financings with new financing, bringing the sum under new terms.
"We are resolute on establishing a strong position in this evolving industry. Having the funding in place to move forward, considerably strengthens our ability to market and deliver our State-of-the-Art solutions, and enables us to capitalize on the momentum we have strived to build," stated Chitan Mistry, CEO of SocialPlay.
About Social Play USA: Social Play Provides marketing and support services for developers in the gaming and mobile application markets. SP Cloud Goods, a patent pending Virtual Goods, Virtual Product Placement Marketplace, and hosting service developed by SocialPlay, aims to be the premiere solution that game developers use to monetize their games. Cloud Goods allows developers to focus on the task of game design, and not on developing complex backend systems.
Forward-looking & Safe Harbor Statement Certain statements in this release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
For More Information on Social Play USA Contact:
2532 Open Range Dr.
Fort Worth TX 76177
SOURCE Social Play USA, Inc.