The investment will support the launch of Swarmio’s proprietary gaming and esports platform in new markets, including Europe, Africaand LATAM, and could be followed by additional investments from Apelby
TORONTO, September 15, 2022 /CNW/ – Swarmio Media Holdings Inc. (CSE: SWRM) (OTC: SWMIF) (GR: U5U) (“Swarmio” or “the Company”), a technology company focused on the global deployment of its proprietary subscription game and esports platform, announces that it has received a strategic initial investment commitment (the “Investment”) from the investment arm of Apelby Communications (“Apelby”), a global telecommunications service provider, for a product gross of USD $1,000,000.
Michal Kutzendorfer, President and Founder of Apelby, said: “We see this not just as an investment, but as the start of a mutually beneficial partnership, which will allow Apelby and our telecommunications partners to exploit the enormous 200 billion dollars global gaming market. Over a third of the world’s population already plays games online, but there is still a lot of growth to come as smart phones and internet connectivity continue to become more available. We are grateful for this opportunity to provide additional value to our telecommunications customers and their gaming-loving customers.”
Vijai KarthigesuCEO of Swarmio, said, “We are very pleased to have the support of a leading telecommunications service provider like Apelby Communications as we continue our current growth trajectory. We look forward to working closely with Apelby as we continue to launch the Ember platform into new, untapped markets around the world.”
In consideration for the funds advanced and to be advanced, Swarmio will issue an unsecured convertible note with a term of 1 year from the date of issuance and bearing interest at 10% per annum (the “Convertible Note”). USD $500,000 of this amount has been advanced to the Company and the balance will be advanced at the beginning of 2023, provided that no eligible financing or sale transaction has taken place beforehand. In the event that Swarmio completes an equity financing with gross proceeds of at least USD $5,000,000 during the term of each Convertible Note, outstanding principal and interest will be converted into common shares of Swarmio at the lesser of (i) a 20% discount to the price paid by investors in such equity financing; or (ii) a price reflecting a $30,000,000 market capitalization for Swarmio. If Swarmio is party to a sale transaction during the term of the Convertible Notes, the Convertible Note holder will have the option to convert principal and interest into common shares of Swarmio at a price reflecting a $30,000,000 market capitalization of Swarmio.
The Company intends to use the proceeds from the investment for general working capital purposes and to fund the launch of its proprietary gaming and esports platform, Ember, in new regions, including Europe, Africaand Latin America, where Apelby provides wholesale telecommunications services to several telecommunications customers. Apelby plans to offer Ember to its telecom customers, allowing them to reach and monetize their gaming user base. The Ember platform provides players with access to an ultra-low latency gaming experience, competitive challenges and tournaments, exclusive game content, managed communities, gamification and points system, an online store (Swarmio Store) and an electronic wallet (Swarmio Pay).
Swarmio shares acquired upon conversion will be subject to a hold period of four months plus one day from the date of the advance. The completion of the Private Placement and the payment of any fees and expenses remain subject to the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange (the “CSE”).
About Apelby Communications
Apelby is a global ICT provider of a wide range of telecommunications services, including carrier-to-carrier voice services and outsourcing services for retail customers, technology and ICT solutions. Since its inception in 2005, Apelby has managed to grow both in terms of revenue and key business products while being able to expand its presence in important regions and acquire a significant client portfolio. To learn more about Apelby Communications, please visit their website (https://www.apelby.com/).
About Swarmio Media
Swarmio Media (CSE: SWRM; OTC: SWMIF; GR: U5U) is a technology company focused on deploying its proprietary end-to-end gaming and esports platform, Ember, which enables telecom operators to monetize their gaming clients. Swarmio has engaged with several telecom carriers who have launched Ember as an add-on service, allowing subscribers to access tournaments, engage in a localized gaming community, challenge friends and influencers, and earn points that can be used to purchase in-game content. Ember is powered by Swarmio’s patented Latency-Optimized Edge Cloud (‘LEC’) technology, which reduces lag and allows gamers to enjoy an optimized gaming experience .
About Ember by Swarmio
Swarmio’s fully managed plug-and-play Ember platform can be quickly and seamlessly integrated with major telecom operations, enabling telecom operators to engage and monetize gaming subscribers and gain immediate access and significant to 200 billion US dollars game market.
Ember provides a proprietary digital hub for gaming communities, allowing gamers access to an ultra-low latency gaming experience, competitive challenges and tournaments, exclusive gaming content, managed communities, a gamification and points system, an online store (Swarmio Store), an e-gamer wallet (Swarmio Pay) and personalized digital content.
For more information, please visit:
Swarmio Investor Website (https://swarmio.media/investors)
Swarmio on LinkedIn (https://www.linkedin.com/company/swarmiomedia)
Swarmio on Twitter (https://twitter.com/SwarmioMedia)
Caution Regarding Forward-Looking Statements
The information contained in this press release may imply forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future and not past events. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect” and “have the intention”, statements that an action or event “may”, “could”, “could”, “should” or “will” be taken or occur, or other similar expressions. All statements, other than statements of historical facts, included herein, including without limitation: statements about the growth of the Company, the Company’s use of proceeds, the possibility that the second of funds to occur, the Company’s ability to take advantage of the major global opportunity in the gaming and esports market, the expected benefits to the Company’s partners and their customers from the use of the products of the Company, ongoing discussions with potential new customers or partners and the possibility that such discussions may result in additional contracts or revenue for the Company, the future of the Company, its plans, objectives and expectations, including, but without limitation, the Company’s continued ability to secure agreements to deploy its products with international telecommunications companies and game publishers and its ability to monetize and these agreements by generating SaaS-based revenue are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or other future events, to differ materially from the results, performance or future achievements expressed or implied by such forward-looking statements. These factors include, among others, the risks identified in the Company’s latest MD&A on www.sedar.com and its long form prospectus dated November 10, 2021 (accessible via the Company’s profile on www.sedar.com). Forward-looking statements are made based on the beliefs, estimates and opinions of management as of the date the statements are made and the respective companies undertake no obligation to update the forward-looking statements if such beliefs, estimates and opinions or other circumstances were to change, unless necessary. by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
SOURCESwarmio Media Holdings Inc.
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