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Animoca secures deal with Versus Systems to drive in-game revenue and player engagement

Posted Aug 15, 2019 @ 21:01 CDT | Stock Ticker(s): ASX:ASX

Mutual investment agreement with Versus Systems to drive in-game revenue and player engagement

Highlights:

  • Animoca Brands and Versus Systems ("Versus") will transfer to each other fully paid ordinary shares of their companies equal in value to US$0.5 million
  • Versus is an advertising company listed on the Canadian Stock Exchange, focusing on the development of in-game prizing and promotion tools
  • Versus developed the Winfinite platform, a set of products that allow publishers and developers to offer in-game prizing across mobile, console, PC games, and streamed media
  • Following the share exchange, Animoca Brands and Versus will progress the framework for a strategic cooperative agreement

Animoca Brands Corporation Limited (ASX: AB1, "Animoca Brands," or the "Company") is

pleased to announce that it has entered, via its wholly owned subsidiary Animoca Brands

Limited, into a mutual investment agreement (the "Agreement") with Versus Systems Inc.

(CSE: VS, OTCQB: VRSSF, "Versus"). Under the Agreement, Animoca Brands and Versus

Systems will transfer to each other fully paid ordinary shares of their companies equal in

value to US$0.5 million.

Versus is an advertising company listed on the Canadian Stock Exchange, focusing on the

development of in-game prizing and promotion tools. Versus has developed the proprietary

Winfinite platform, a set of products that allow publishers and developers to offer in-game

prizing across mobile, console, PC games, and streamed media. Through Winfinite,

advertisers can offer product and digital goods as prizes that players can earn through

in-game achievements.

Winfinite provides players and viewers an opportunity to play for things they love, and gives

businesses and brands a powerful new way to reach their potential audience. To date, there

have been over half a million in-game challenges completed through Winfinite.

Following the share exchange, Animoca Brands and Versus will progress the framework for

a strategic cooperative agreement, whereby Animoca Brands will potentially utilise the

Winfinite platform for advertising via the Company's established partnerships with iClick,

Talenthouse, and Gamma Innovations.

Transaction details

Animoca Brands and Versus will transfer to each other fully paid ordinary shares of their

companies equal in value to US$0.5 million. Pricing of the Versus shares issued to Animoca

Brands will be based on the higher of C$0.23 or the 21-day volume weighted average price

(VWAP) on the date the deal is approved by the board and shareholders (if required) of

Versus. At the date of this announcement Versus had 128,235,635 securities on issue.

Pricing of the Animoca Brands shares issued to Versus will be based on the higher of

A$0.18 or the 21-day volume weighted average price on the date the transaction is approved

by the Company's shareholders for the purposes of Listing Rule 7.1. All shares will be

subject to a lock-up period of 24 months. The Agreement is subject to Animoca Brands'

shareholder approval for the purposes of Listing Rule 7.1.

Management commentary

Yat Siu, co-founder and chairman of Animoca Brands, said: "Versus Systems has the ability

to provide Animoca Brands with technology which will be beneficial to the Company on a

number of levels. Animoca Brands will explore the possibility of leveraging any of its multiple

partnerships for advertising benefit, and explore ways to utilise Winfinite in its existing games

portfolio." Matthew Pierce, Founder and CEO of Versus Systems, commented: "The combination of

Animoca Brands' content, gaming, and blockchain-enabled platforms with Versus Systems'

proprietary rewards and engagement engine will generate new opportunities to enhance the

audience and gaming experience while increasing revenues and user growth.

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