Home » Picture Gallery, Software » Imperus Reports 2016 First Quarter Financial Results and Announces Proposal to Change Name to “Tangelo Games Corp.”

Imperus Reports 2016 First Quarter Financial Results and Announces Proposal to Change Name to “Tangelo Games Corp.”




TORONTO, ONTARIO — (Marketwired) — 05/30/16 — Imperus Technologies Corp. (“Imperus” or the “Company”) (TSX VENTURE: LAB)(FRANKFURT: ISX)(FRANKFURT WKN: A12B58) reports its financial results for the first quarter of 2016 (the three month period ended March 31, 2016).

HIGHLIGHTS

All figures CAD

James Lanthier, Chief Executive Officer of Imperus, commented: “In the first quarter, strong performances in February and March helped us recover from the typical seasonal low of January. We see this momentum continuing in Q2 to date. Additionally, our Spanish language mobile games continue to grow at a double digit rate month-over-month.

This was our first full quarter of ownership of both Diwip and Akamon, and in the quarter we established a clear operating management structure. We have made strides in sharing marketing platforms, tools, and best practices across the combined organization and this work will continue to progress over the next two quarters.

In support of our evolution towards one unified organization, and to better reflect the spirit of our business, we have made a proposal to shareholders to rename the Company “Tangelo Games Corp.”. We believe this name better conveys our goal, which is to create social game content that delights and engages users around the world. The name change will become effective following shareholder and regulatory approval. Along with the corporate name change, as previously announced, we also expect to discontinue the use of the Akamon and Diwip brands.”

Vicenc Marti, President of Imperus, commented: “Q1 2016 marks the beginning of the actual full-fledged integration of our two operating units, Akamon and Diwip, into a single management structure and company culture. I am convinced that in the long run this will bring extraordinary benefits to our organization such as margin expansion and revenue growth. By integrating CRM, VIP Management, Customer Support and Cross Selling our existing and upcoming gaming library to the full 50 Million combined database of users, the immediate future of Tangelo Games looks very promising.”

Imperus Q1 results can be found on its website () or SEDAR.

Financial Results and Non-IFRS Measures

The Company has included certain Non-IFRS performance measures, namely EBITDA and adjusted EBITDA, within this press release. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, Imperus and certain investors use this information to evaluate the Company–s performance and ability to generate cash, profits and meet financial commitments. These Non-IFRS measures are intended to provide additional information, do not have any standardized meaning prescribed by IFRS, should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and may not be comparable to similar measures presented by other issuers.

About Imperus

Imperus Technologies Corp., the parent company of Diwip and Akamon, is a developer of social and mobile gaming for PC, Mac, iOS and Android platforms. Diwip and Akamon design, develop and distribute their top ranked social casino-themed games within online social networks (such as Facebook) and mobile platforms (such as Android and iPhone). All of the Diwip and Akamon games are free to play and generate revenue primarily through the in-game sale of virtual coins.

Caution Regarding Forward-Looking Information:

Certain statements in this press release may constitute “forward looking statements” which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as “may”, “will”, expect”, “believe”, “plan” and other similar terminology. These statements include, but are not limited to, statements with respect to the future business and operations of the Company and the financial results of the Company and its subsidiaries. These statements reflect management–s current expectations regarding future events and operating performance and speak only as of the date of this press release. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Imperus or Akamon operate. The foregoing list of factors is not exhaustive. Please see the Company–s short form prospectus dated March 27, 2015, the Company–s Annual Information Form dated November 11, 2015 and other documents available under the Company–s profile on , for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking statements, whether a result of new information, future results or otherwise, except as required by 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:
Spyros P. Karellas – President & CEO
Pinnacle Capital Markets LTD.
Mobile/Office:416-433-5696

Skype: spyros.karellas





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