REG - tinyBuild, Inc. - Acquihire of Demagic Games

tinyBuildAnnouncement

11/04/2022 07:00

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RNS Number : 8754H  tinyBuild, Inc.  11 April 2022

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11 April 2022

tinyBuild, Inc

("tinyBuild" or the "Company")

Acquihire of Demagic Games

tinyBuild, a premium video games publisher and developer with global
operations, is pleased to announce the acquihire of Demagic Games, a
development studio with 23 staff(( 1 )) currently based in Ukraine and Russia.
The Company has been working with Demagic Games for over a year on various
projects including Hello Neighbor 2, unannounced titles, and more recently
Deadside.

By bringing Demagic Games in-house, the Company expects to reduce dependencies
on external studios and increase visibility on the production process, in line
with its core strategy. The small acquihire will have no material impact on
the Company's earnings.

Admission and Total Voting Rights

As part of the initial consideration on signing, the Company will issue
621,006 New Common Shares of $0.001 each in the Company ("New Common Shares")
at a price of 194.13p per New Common Share. The New Common Shares will be
subject to a 12 month lock up period and rank pari passu in all respects with
the existing Common Shares of the Company. Application will shortly be made to
the London Stock Exchange for the admission of the New Common Shares to
trading on AIM ("Admission") which is expected to take place on or around 14
April 2022. Following Admission, the total number of voting rights in the
Company will be 203,528,087 and shareholders may use this figure as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

Alex Nichiporchik, Chief Executive Officer of tinyBuild, commented:

"We are delighted to announce our first acquihire this year, and to extend to
all Demagic staff our support to alleviate the challenges of the ongoing
conflict in Ukraine. Demagic has already made a strong contribution to the
development of Hello Neighbor 2 and it brings a highly skilled porting team."

"Our goal is to expand and diversify our position as a global developer and
publisher, focusing on IP ownership while creating long-term scalable
franchises across multiple media formats. In addition, we are looking at a
number of other potential acquihires and larger scale acquisitions to enhance
the Company's strategic and operational position."

 

For further information, please contact:

 tinyBuild, Inc                                               investorrelations@tinybuild.com

 Alex Nichiporchik - Chief Executive Officer and co-founder

 Luke Burtis - Chief Operating Officer and co-founder

 Antonio Jose Assenza - Chief Financial Officer

 Giasone (Jaz) Salati - Head of M&A and IR

 Berenberg (Nominated Adviser and Sole Broker)                +44 (0) 20 3207 7800

 Ben Wright, Mark Whitmore, Ciaran Walsh, Milo Bonser
 SEC Newgate (Financial PR)                                   tinybuild@secnewgate.co.uk

 Robin Tozer, Bob Huxford, George Esmond                      +44 (0)7540 106366

About tinyBuild:

Founded in 2013, tinyBuild (AIM: TBLD) is a global video games publisher and
developer, with a catalogue of more than 70 premium titles across different
genres. tinyBuild's strategy is to focus on its own intellectual property (IP)
to build multi-game and multimedia franchises, in partnership with developers.

tinyBuild is headquartered in the USA with operations stretching across the
Americas and Europe. The Group's broad geographical footprint enables the
Company to source high-potential IP, access cost-effective development
resources, and build a loyal customer base through its innovative grassroots
marketing.

tinyBuild was admitted to AIM, a market by the London Stock Exchange, in March
2021.

For further information, visit: www.tinybuildinvestors.com
(http://www.tinybuildinvestors.com/) .

 

 

 1  Staff includes both employees and independent contractors

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