HeadsUp Entertainment Acquires Assets of Fanlogic Valued at $3.6 Million
14 minutes ago - DJNF
HeadsUp Entertainment Acquires Assets of Fanlogic Valued at $3.6 Million
LAS VEGAS, Oct. 05, 2016 (GLOBE NEWSWIRE) -- HeadsUp Entertainment International Inc. (Pinksheets:HDUP) announces today that it has executed and closed the Asset Contribution Agreement to acquire the assets of Fanlogic LLC, a Daily Fantasy, social gaming and eSports company. Fanlogic owns and operates proprietary software and is prepared to launch social fantasy sports and social casino games for brands to acquire, engage, and interact with their customers.
Through the Asset Contribution Agreement, HeadsUp issued 60 million restricted shares at a price of $0.06 per share as consideration for the technology, infrastructure and management team of Fanlogic to implement HeadsUp's international expansion initiative targeting the 375,000,000 global engaged users of social games and fantasy sports.
Fanlogic's platforms allow companies to capitalize on leveraging and expanding their customer base using gamification and social marketing tools. HeadsUp will generate revenue through marketing contracts with major brand partners, sports teams, charities and though direct user engagement. Management believes that the social and fantasy games market is an estimated $12.4 billion industry.
Management of HeadsUp further believes that the Asset Contribution Agreement will allow HeadsUp to expand and leverage its existing assets into new markets within the core entertainment, media and gaming sectors. This is the first of a number of announcements that the management and directors look forward to releasing regarding HeadsUp's business plans aimed at increasing shareholder value.
About Fanlogic.
FANLOGIC is a complete social fantasy platform provider for in-game, daily, weekly, season-long, on-demand Fantasy Poker, eSports or event-driven fantasy games and promotions. Social, free to play fantasy games, for the purpose of customer acquisition and retention, is the company's core offering. FANLOGIC partners with brand owners, media businesses and licensed gaming operators, to motivate and reward customers while building brand loyalty and revenues. FANLOGIC's software is built to protect consumer data, meet regulatory compliance, and ensure partner integrity. For more information go to www.fanlogic.com.
