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Amico Games Enters Into LOI With Chinese Gaming Company
NORTH YORK, ON, Oct 30, 2009 (MARKETWIRE via COMTEX) --
AMICO GAMES INC. (OTCBB: AMCG) is pleased to announce that it has
signed a non-binding Letter of Intent to acquire Galaxy Software
Limited. Galaxy Software (privately held) is a leading mobile content
developer specializing in mobile games for the growing Chinese
telecommunications market.
Amico Games Inc. plans to acquire Galaxy Software Ltd. through a
share exchange transaction. Should the proposed transaction close,
Amico will acquire Galaxy through the issuance of 54,500,000 of its
shares. The LOI is subject to due diligence on the business and
affairs of Galaxy Software Ltd. In anticipation of the share
exchange, both companies are moving forward with the completion of
audited financial statements and preparing a definitive Share
Exchange Agreement, which is currently intended to be signed sometime
this month.
"We are very happy to be a part of bringing Galaxy Software to the
North American capital markets. It is a great company with tremendous
upside and we are confident that our shareholders will be very
pleased with this development," said Emad Petro, President of Amico
Games Corp.
Notice regarding forward-looking statements
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements.
Actual results may differ materially from those described in
forward-looking statements and are subject to risks and uncertainties.
There can be no assurances that the anticipated share exchange
between Amico Games Inc. and Galaxy Software Limited will close or
that a definitive agreement will be entered into. See Amico Game's
filings with the United States Securities and Exchange Commission
which identify specific factors that may cause actual results or
events to differ materially from those described in the
forward-looking statements.
Contact:
Amico Games Corp.
1 888 512 9124
246 Horsham Avenue
North York, Ontario
Canada, M2N 2A6
SOURCE: Amico Games Corp.
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