Sterling Group Ventures Inc.
Mojo Games brings best in class products including poker, casino, sports betting and skill games alongside innovative and entertainment player experiences and rewards. With customization that’s a cut above, we’re ready to take your business to the next level no matter where you’re starting from.
Mojo Games is ready to bring our expertise to your business, whether you’re on your initial approach into e-gaming or you’ve been soaring in the industry for some time. Through seamlessly integrated games and rewards, fusion of offline and online experiences, social models to real money - we deliver value to both partners and players of all stakes and levels.
We’re always up for the next game. The ever evolving e-gaming industry has presented new revenue opportunities for our partners and players, as have we. Our products support PC, MAC, in-browser Mobile & tablet solutions. Our models range from play, real money and social freemium opportunities. And we’ve designed a solution to aid established land based operators enter the online market fully equipped.
We’re ready for wherever e-gaming goes, are you?
We offer a level of customization that’s a cut above. Dedicated to finding the ideal solution for our partners, it’s our goal to create a model that suits each partner's specific needs, be they integration, graphics + marketing, or taking advantage of our network liquidity.
Partners and players benefit from our healthy network environment focused on providing players of all stakes and levels an entertaining and rewarding experience. We reward recreational enthusiasts to our most loyal base, always recognizing that every player matters.
VLeague and Mojo Games, a division of Sterling Group Ventures, Announce Strategic Partnership to Provide Online Social Games and Poker Tournaments to Alibaba Sports Group, AliSports
VANCOUVER, British Columbia, Dec. 02, 2016 (GLOBE NEWSWIRE) -- Mojo Games, a division of Sterling Group Ventures (SGGV) is pleased to announce a strategic partnership with VLeague Internet Technology Company Limited, a China corporation who is the exclusive online social gaming provider for Alisports' Chess and Card Division.
The partnership between VLeague and Mojo has been formed as part of an online strategy to support Alisports' recently announced plans to launch a worldwide poker tour. Officials from the Alibaba Sports Group held a press conference Tuesday in Shanghai to announce the International Poker Tour (IPT), a new poker tour with events to take place in China, Asia Pacific, North America and Europe with an estimated more than $7 million in tournament prize money to be awarded over the first year of the tour.
To view the 'Photo of Press Conference held in Shanghai', please visit: [http://orders.newsfilecorp.com/files/1075/23874_a1480661641549_5.jpg]
Sterling acquires Euroclub Holding Limited, an established global online gaming company with business in Brazil, Russia, India, China and Europe
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/16/16 -- Sterling Group Ventures, Inc. ("Sterling") (OTCQB:SGGV) is pleased to report that on November 11th, 2016, it signed a definitive share exchange agreement with Euroclub Holding Ltd ("Euroclub"). As a result, Euroclub will become a subsidiary of Sterling with business partners operating in Brazil, Russia, India, China and Europe. The company's online gaming platform is currently being launched nation-wide in India and China.
As a result of the acquisition, Mr. Nicolaos Mellios, the founder, CEO and significant shareholder of Euroclub, who resides in Vancouver, British Columbia, has been appointed CEO of Sterling. Mr. Mellios has been in the online gaming business since 1999. Mr. Nick Mellios, BSc, MBA, is responsible for overall technical and strategic management, and brings a broad background in technology and business development to his lead role at Euroclub. As co-founder and CEO, he has been responsible for raising financing, and assembling the technical and operations teams to build and support Euroclub's social and real money iGaming platform. He also leads business development efforts negotiating agreements with on-line and land-based gaming operators, and third party gaming providers. Prior to Euroclub, Mr. Mellios was the CEO of Yummy Interactive. Mr. Mellios co-founded Yummy to build a games-on-demand distribution and DRM (digital rights management) solution for mobile/broadband service providers, and application/game developers and publishers. Prior to Yummy, Nick held positions in New Business Development and Program Controls Management at Hughes Aircraft. He graduated from the University of British Columbia with an MBA and a bachelor of science in mathematics. Mr. Mellios has replaced Mr. Tsakok, MBA, CFA as CEO, who will remain an independent director and Chairman of the Audit Committee.
Euroclub has enjoyed substantial growth as per its unaudited financial statements over the past 2 years with revenue of EUR406,030 in 2014 and EUR655,224 in 2015.
Euroclub is a well-established online gaming company that provides a B2B and B2C multi-gaming platform under the MOJO brand name with a full suite of social and real money gaming products, including online poker, casino games and third party integrations to live dealer, e-sports, sports betting and skill games. Mojo offers B2B partners both API integrated and turnkey white label licensing options with comprehensive global payment processing. Mojo's registered office is in Malta with 25 technical staff in Vancouver, Dublin and Barcelona. Mojo supports over 20 B2B partners and B2C operations with gaming licenses in Malta and Curacao.
Under the terms of the agreement, Sterling will issue 170,285,696 common shares and 791,500 redeemable and exchangeable preferred shares which are convertible into common at $0.20. Once converted, those common shares have 5 warrants attached exercisable at $0.20 with a term of 3 years.
Concurrently with the acquisition of Euroclub, Sterling has arranged a US$500,000 private placement of 10 million units with each unit comprising of 1 common share at $0.05 and a Series "F" warrant convertible at $0.15 with a term of 1 year in order to fund Euroclub's immediate capital requirements for its entry into India and China expected in December 2016.
In addition, Mr. Patrick Martin and Mr. Sachin Pawa have joined the Board of Sterling as of November 11, 2016.
Patrick Martin, BSc, MBA, is the principal of business strategy at Zappos since 2014 and one of the architects of the current best customers strategy. He has expanded the data science and business intelligence capabilities of the organization. He has additionally held previous roles as a product manager at Zappos, and a senior engineer and development director at Electronic Arts Sports. Mr. Martin's areas of expertise include business strategy, technology management, big data and on-line/direct marketing. He received his BSc in Computer Software Engineering from the University of British Columbia and received his MBA from Northwestern University's Kellogg School of Management.
Sachin Pawa, BBA, MBA, has over 10 years of experience in building gaming ventures in India. He co-founded and developed Sol Entertainment Private Ltd., the operating company of the Crown Casino in Goa, India. He was the chief executive officer of Online for Playwin, India's largest licensed lottery business. He was also the co-founder and CEO of Blue Square Services, which operated the site Maharjahclub and was licensed in the United Kingdom. He has also set up and managed various successful retail stores and operations for distribution of mobile devices, including partnerships with the major network carriers in the United States. He graduated from the University of Technology, Sydney, Australia, with an MBA and from the Apeejay School Of Management in Delhi, India, with a BBA.
Mr. Gerry Runolfson has resigned as a Director of Sterling and the Board wishes to thank him for his contribution to the company.
ON BEHALF of the BOARD
Mr. Nicolaos Mellios, Chairman & CEO
For further information, please check the Company's SEC 8-K filing.
Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, product prices and changes in international and local markets, as well as the inherent risks of the mining related business. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Sterling Group Ventures Inc.
Chris Mellios, B.Sc., MBA
(604) 684-1001 (FAX)
Sterling Group Ventures Inc.
Christopher Tsakok, MBA, CFA
(604) 684-1001 (FAX)
Source: Sterling Group Ventures Inc.
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