FORT WORTH, Tx., May 22, 2015 /PRNewswire/ -- Artesanias Corp. (OTC: AXTR) is pleased to announce that on April 27, 2015, the company has entered into an exclusive license agreement with Social Play, Inc. Under the agreement, Artesanis Corp. has been granted the exclusive rights within the U.S. and Canada to develop market and sell products and services based upon Social Play's "SP Cloud Goods" system.
SP Cloud Goods is cloud-based game hosting and management system where video game developers can add and remove virtual goods from the game, manage players, manage virtual store pricing, and view vital game and player statistics. Using this system, game developers can affect their games in real-time, without the need to rebuild or republish the game.
CEO, Chitan Mistry stated, "the Social Play relationship is an exciting new direction for our Company. I look forward to bringing the Social Play products to market in the coming months and introducing our network of developers."
The SP Cloud Goods intellectual property also includes a system for game developers to collect payments for virtual goods sold to players in their games, as well as a marketplace component that will allow advertisers and game developers to choose where, when, and how advertisements are placed in games. The system will also facilitate the transfer of funds from advertisers to game developers.
The Artesanias agreement with Social Play runs for an initial term of five (5) years, with an optional extension for an additional five years. In consideration for the license, we have agreed to issue Social Play one million (1,000,000) shares of common stock immediately and an additional one million shares on each anniversary of the Agreement for so long as it is in effect.
Further, we have agreed to make cash payments to Social Play in the total amount of $120,000.
About Artesanias Corp.
Artesanias Corp. provides marketing, monetization, and support services for developers in the gaming and mobile application markets.
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.
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SOURCE Artesanias Corp.