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Sterling Group Ventures, Inc.: Corporate Update
2016-12-07 09:30 ET - News Release
VANCOUVER, BC / ACCESSWIRE / December 7, 2016 / Sterling Group Ventures, Inc. (OTCQB: SGGV) (the "Company") is pleased to provide the following corporate update:
Mojo Games, a division of the Company, is currently working with its partner in India to release its poker platform nation-wide. As per the current agreement, Mojo has entered into a Joint Venture with its Indian partner with all profits to be divided equally. Mojo's Indian partner is a major media conglomerate with a large customer base which will be leveraged to drive adoption of the platform. The platform is currently in the late stages of development, with a soft launch underway including mobile applications.
Mojo Games is excited to be working with its new partner VLeague, who is the exclusive online social gaming provider for Alisports' Chess and Card Division, as per the Company's press release of December 2, 2016. Mojo is planning and negotiating to launch, together with VLeague, additional sites inside, and now outside, of China, promoting recreational play and the Alisports IPT tournaments.
In addition to upcoming launches with partners in India and China, the Company continues its B2B sales and operational efforts in Europe and South America.
Mojo Games would also like to announce that it has been actively developing a Merger & Acquisition strategy, having identified near term targets that are a strong fit with the Company's operations. The Company anticipates that any one of the targets could present a material change and will disclose these opportunities on a timely basis.
The Company would like to announce that Robert Smiley has stepped down as CFO. The Company would like to thank Mr. Smiley for his hard work as CFO on behalf of the Company and wish him well in his future endeavors.
The Company is pleased to announce that Mr. Chris MacPherson is joining the Company as CFO and Director. He has spent 25 years at CIBC Wood Gundy as Vice President & Portfolio Manager. Chris has extensive experience in the capital markets and is co-founder of Mojo. Chris will be responsible for finance and marketing activities, funding and acquisition opportunities as well as assist in strategic and tactical matters. He has sat on a number of boards, including BC Hydro, and been quite active on the political stage. He has also been involved in a number of charities, including Children's Miracle and Nepal House Society.
ON BEHALF of the BOARD
/s/ Nicolaos Mellios
