TORONTO, ONTARIO — (Marketwire) — 04/26/12 — TransGaming Inc. (TSX VENTURE: TNG) (“TransGaming” or the “Company”) today reported its third quarter fiscal year 2012 results. The Company-s unaudited interim consolidated financial statements for the three and nine months ended February 29, 2012 and Management-s Discussion and Analysis have been filed and are available on SEDAR at .
The Company also announced that it has filed its Business Acquisition Report (“BAR”) related to the acquisition of the Interactive TV and Connected TV (“iTV”) division of Oberon Media, Inc., closed January 6, 2012.
Highlights
Commenting on the results, Vikas Gupta, CEO & President of TransGaming stated:
“This quarter was a transformative period for TransGaming with exceptionally high levels of activity as we continue to work aggressively to forge our dominance in the emerging Smart TV space. During the third quarter of fiscal year 2012, we strengthened our position in the Smart TV market through the acquisition of the Oberon iTV division; we expanded the GameTree TV platform to include support for MIPS Technologies which gives TransGaming access to 75% of the set-top boxes deployed worldwide; we announced a new distribution agreement with Select-TV thereby extending the GameTree TV platform into the Asian market, specifically the hospitality sector as well as mid-tier operators. This activity, coupled with the continuing success of our Mac business, is delivering a foundation of sustained growth with tremendous upside potential.”
Mr. Gupta added: “We are building GameTree TV to be the world-s most robust, scalable, and comprehensive video games distribution platform for Smart TV. The addition of multi-screen support makes GameTree TV a truly unique and complete platform that leverages current consumer behaviour in the living room and takes advantage of the booming popularity of mobile devices. All these initiatives feed into our main objective of driving active user growth.”
Conference Call Details
TransGaming will host an analyst and investor conference call at 1:00 p.m. ET on Thursday April 26, 2012 to review the third quarter fiscal 2012 results and Business Acquisition Report relating to its acquisition of the Interactive TV and Connected TV division of Oberon Media, Inc. The telephone number for the conference call is (416) 340-9432. The call will be recorded and a digital replay will be available on the Company-s Investor Relations portion of its website at: .
About TransGaming Inc.,
TransGaming Inc. (TSX VENTURE: TNG) is the global leader in the multiplatform deployment of interactive entertainment. TransGaming works with the industry-s leading developers and publishers to enable and distribute games for Smart TV set-top boxes, Mac computers, and Linux/CE platforms. TransGaming is headquartered in Toronto, Canada. To learn more about TransGaming visit .
FORWARD-LOOKING STATEMENTS
Certain statements in this document may constitute “forward-looking” statements, which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use words like “may”, “will”, “expect”, “continue”, “believe”, “plan”, “intend”, “would”, “could”, “should”, “anticipate” and other similar terminology. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date of this document. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the “Risk Factors” section of the Company-s the most recently filed Annual Information Form which is available on SEDAR at .
Although the forward-looking statements contained in this document are based upon what we believe are reasonable assumptions, we cannot assure investors that our actual results will be consistent with these forward-looking statements. We assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
TransGaming Inc.
Dennis Ensing
Chief Financial Officer
+1 416 979-9900 x321
TransGaming Inc.
Investor Relations – Canada
Jean-Francois (JF) Dube
+1 877 848 8790
Wolfe Axelrod Weinberger Associates LLC
Investor Relations – United States
Adam P. Lowensteiner
+1 212 370 4500
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