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ISIS Lab Corporation Provides Corporate Update(May 07, 2014)
TORONTO, ON--(Marketwired - May 07, 2014) - ISIS Lab Corporation (TSX VENTURE: LAB) (FRANKFURT: ISX)(Frankfurt WKN: A1XB97) (the "Company" or "ISIS"), is pleased to provide a corporate update after the filing of its annual financial statements and management discussion and analysis for the fiscal period ending December 31, 2013.Isis, during the past fiscal year was actively involved in both product and market development.Below are highlights for fiscal 2013:
Year End Highlights
- Completed a reverse takeover transaction into Wedona Capital Inc. on November 7, 2013;
- Commenced trading under new company name Isis Lab Corporation on November 10, 2013;
- Completed financing for gross proceeds of $6,900,000 consisting of 23,000,000 units with a unit price of $0.30;
- Generated Revenue of $214,702 for the fiscal period while completing beta testing of its proprietary online gaming platform;
- Recipient of 2013 Most Innovative Start-up of the year from 2013 Global iGaming Summit and Expo;
- Launched first true social network build and regulated for online gaming market in the United Kingdom;
- Engaged Kin Communications to provide investor relations activities;
- Appointed Ms. Ute Koessler as vice-president of corporate development and communications;
- Appointed Ms. Michele Clayborne as vice-president of public relations and branding;
With the successful public listing and subsequent launch of Isis Friends in the United Kingdom, Isis Lab is well positioned to benefit from new opportunities in regulated jurisdictions seeking a social network oriented gaming platform. In early 2014, the Company entered into an agreement with Microgame SPA, a leader in the regulated Italian online gaming sector. In addition, the Company engaged a Chief Marketing Officer and a Chief Technology Officer. These additions and the global market for regulated gaming present new opportunities for Isis Lab to provide online gaming solutions.
President Daniel Kajouie states; "We are extremely pleased with our progress to date and look forward to continuing our strategy of introducing and providing a social network based gaming solution for newly regulated markets. Through our initial agreement in the United Kingdom we have been able to demonstrate the benefits of Isis Friends and believe our platform will continue to generate revenue for our licensees.Our marketing initiatives have been and continue to be presented to a number of European and North American groups."
The Company's audited annual financial statements and management's discussion and analysis (the "MD&A") for the twelve months ended December 31, 2013 are available on SEDAR, at www.sedar.com and on the Isis Lab Company website at www.isislab.com.
About ISIS FRIENDS
ISIS FRIENDS will be the first true social network built and regulated for the online gaming market providing the UK audience with a product differentiator both from a social interaction perspective and a substantial library of games integrated and available. ISIS Friends is on track to have the largest portfolio of games available for social online gaming. ISIS Friends cutting-edge technology is designed to be future ready, scalable, modular, with the ability to expand integrations without limit. ISIS Friends was built with the ability to support third-party game integrations, cashier support, customer support, social networking, and backend operator support.
About ISIS Lab Corporation
ISIS is the developer and provider of an award winning social gaming software platform. With experienced social gaming leadership and development teams, ISIS looks to leverage the anticipated growth in regulated, real-money, online gaming through the application of the social graph and the gamblification of social games. The ISIS platform was developed for both social gaming and monetized gaming for clients operating within regulated markets. For ISIS clients operating within fully regulated markets the company offers a turnkey solution including a full commerce application and back office suite. ISIS was the winner of The 2013 Most Innovative Startup Company of the year at the 2013 GIGSE Conference in San Francisco, California.
On Behalf of Isis Lab Corporation
Daniel Kajouie, Chairman and CEO
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.
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, the expectation that ISIS Friends will be the first true social network built and regulated for the online gaming market, that ISIS Friends is on track to have the largest portfolio of games available for social online gaming, and that the regulated, real-money online gaming market is anticipated to grow. 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, delays with the launch of ISIS Friends and the acceptance of the product in the target market, competition in the industry and markets in which the Company operates, the Company's stage of development, long term capital requirements and future ability to fund operations, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of ISIS operates. The foregoing list of factors is not exhaustive. Please see the Company's prospectus dated October 23, 2013 and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
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