Consorteum Holdings Inc. Reaches Funding Agreement With Private Equity Group
(Marketwire Via Acquire Media NewsEdge) TORONTO -- (Marketwire) -- 02/11/13 --
Consorteum Holdings Inc., a Nevada corporation ("Consorteum" or the "Company") (OTCQB: CSRH), today announced that it has entered into a binding term sheet with AIC Group Holdings Limited for a $30,000,000 funding commitment. A private equity group, AIC Group Holdings Limited is a corporation organized under the laws of the British Virgin Islands.
Consorteum has entered into this agreement to provide working capital, fund the sales & marketing budget and to allow the Company to identify potential merger and acquisitions that will strengthen its ability to compete in the online and mobile gaming market place. Consorteum will focus on its new partnership with Knockout Gaming Inc., an Isle of Man Limited corporation, which has a full online casino gaming platform, and its existing licensing agreement with Tarsin Inc., a Nevada corporation.
As reported previously, Consorteum and Tarsin have reached a licensing agreement to partner in the continued release of mobile gaming solutions, releasing solutions on Tarsin's CAPSA platform, which is already in the global market and servicing millions of mobile consumers.
The Company has also reached a joint revenue share agreement with Knockout Gaming, Inc. ("Knockout"), a Nevada corporation. The partnership allows Consorteum to resell Knockout's licensed online gaming platform called FirePlay. Knockout has spent the past two years completing a rigorous testing program in order to achieve its gaming license from the Isle of Man. This license approval was only the 47th such license ever granted, and it is critical in differentiating the platform from other competitors.
Craig Fielding, Consorteum's CEO, stated, "Player protection is a crucial issue in the world of online gaming and the license allows us to market our brands as 'player protected' in which the payouts are strictly controlled. Our agreement with Knockout will allow Consorteum to provide customers with a single integrated solution to the complex problems of online gaming with mobile capabilities. In our initial discussions with casino operators, they have indicated that our approach is the total 'one-stop solution' that they are looking to deploy."
"Consorteum is continuing to identify opportunities in which we can utilize the proven CAPSA platform and validate the revenue potential that online and mobile gaming and wagering represents," continued Mr. Fielding. "We are in discussions with several international offshore properties and we hope to be able to reach definitive contracts with several new casinos in the near future. This ultimately is a win-win for both companies. With access to capital, Consorteum will be able to execute on its business plan and aggressively pursue opportunities that it has been developing throughout Canada and Internationally. We now have the resources to go to market and educate the online and mobile gaming customers about our total solution."
Consorteum is a transaction management and mobile publishing company focused on transaction processing, including its suite of mobile offerings, delivery of mobile content, and mobile payments solutions and products, through a mix of on-deck partnerships, license agreements, and joint venture revenue share arrangements. It operates as a technology and services aggregator to meet the diverse needs of its client base by leveraging a wide range of products and services to develop end-to-end, turnkey card and payment transaction processing solutions. The Company has extensive expertise within the Payments and Transaction Industry in North America and internationally. For more information about the Company, please visit: www.consorteum.com
Tarsin takes brands mobile, providing casinos and gaming operators with the runway to execute their mobile strategy. With CAPSA, operators can now de-risk launching and monetizing innovative mobile wagering products and services quickly and robustly, and reach broad new revenue streams through a comprehensive mobile suite of distribution, marketing, location and payment capabilities.
CAPSA features and facts
The CAPSA wagering platform offers a suite of fully featured and proven technology solutions that are critical to the nature of placing a wager. Not least are identity confirmation, geofencing by state or region, a suite of consumer billing options, and a high level of personal and corporate security including device authentication prior to each m-commerce transaction. Supporting professional services, design services and project management services enable full systems integration with back-end gaming infrastructures, web front ends and bricks-and-mortar operations. The platform supports marketing program integration and execution, ensuring high levels of distribution for operators, and ease of adoption for consumers. Its inbuilt scalability and resilience supports propositions launched on both national and international footprints.
With an ever-increasing rate of handset development and new device release, as well as an increasing number of manufacturers entering the mobile space, CAPSA ensures that hardware is supported upon production release, maximizing the addressable mobile market in real time. As of January 2012, CAPSA supports over 1,500 handsets, smartphones and tablets from 49 manufacturers, is interoperable with 796 carriers and mobile operators worldwide including 51 in North America, and designs and publishes seamlessly across multiple variants of operating systems based on Apple, Android, Windows, Rim, Nokia, Java and BREW. Tarsin services operate in 32 languages plus a further 5 regional variants, publishing over 3 million mobile applications to consumers.
For more information, visit www.tarsin.com
About Knockout Gaming
Knockout Gaming, Inc., a Nevada Corporation, is dedicated to leading the online gaming industry worldwide by providing innovative i-gaming turnkey solutions in an explosive and expanding industry. Online Gambling licenses are only awarded to companies that have passed a rigid vetting process. Knockout Gaming understands the complexity of managing an international online gaming operation in different jurisdictions with its expertise while adapting to different cultures in both regulated and newly regulated markets. Knockout Gaming's ready to operate system, FIREPLAY, is a full back-office technology platform that offers advanced customized solutions, fully secured payment processing with fraud prevention, and ensures a 24/7 support system while providing players with a portfolio of over 100 quality cutting edge animated 3D high definition graphically attractive games to choose from in any language. Knockout Gaming is committed to delivering the very best in 3D video slots, classic slots, poker, bingo, scratch & win and sports betting games that will keep players consistently returning for more.
For more information, visit www.knockoutgaming.com
Forward Looking Statements
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
For additional information, please contact
Chief Operating Officer
Source: Consorteum Holdings, Inc.
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