May 15, 2018
OTC Disclosure & News Service
Vancouver, BC, Canada -
Mojo Games, a division of Sterling Group Ventures, Inc (OTCQB: SGGV) is pleased to provide the following corporate update.
The Company has completed its 10K filing for 2016 and continues to work on completing all necessary filings for the Exchange.
The Company is preparing to launch the social poker app as planned with Factory Games by end of June 2018. Soon after the initial soft launch, Mojo and Factory will begin marketing the app which is expected to compete with the top social poker apps available today on Android and iOS devices globally.
The Company is preparing to launch the cryptocurrency payment processing solution as planned with BlocPal International by end of July 2018. In addition to providing a custom enterprise back-office solution for BlocPal, the company is assisting BlocPal in launching a unique blockchain enabling instant authorization of transactions and ensuring payments to Merchants.
The Company is making progress with its Direct-to-Consumer online gaming sites for Fiat and cryptocurrencies and associated blockchain loyalty programs. However, the Company has prioritized launching the solutions for Factory and BlocPal ahead of these services.
After significant investment in the India gaming network with Baadshah Gaming, the Company has not seen the expected results in revenue and is now considering alternative business opportunities with partners in India and Asia.
On April 20th 2018, the Board of Directors of Sterling Group Ventures Inc. ("the Company") approved the adjustment of exercise price of $0.15 to $0.10 of the 5,866,600 Series “G” Share Purchase Warrants (the "G" Warrants )and the extension of said warrants to the earlier of November 30th 2019 or the close of business on the 30th day after a takeover bid for the Company's issued and outstanding share capital has been made by a third party and approved by the shareholders of the Company.
The restructuring of Sterling and Mojo has taken more time than we expected and as such the financials have been delayed. We are continuing to proceed forward on our necessary filings and will notify shareholders when completed.
About Mojo Games, a division of Sterling Group Ventures
Mojo Games provides a B2B multi-gaming platform with a full suite of social play money and real money gaming products, including online poker. Mojo offers B2B partners both API integrated and turnkey white label licensing options with advanced and customizable iGaming back-office features, player rewards and marketing, affiliate, and ecommerce solutions.
ON BEHALF of the BOARD
/s/ Nicolaos Mellios
Mr. Nicolaos Mellios
Chairman & CEO
For further information, please check the Company's SEC 8-K filing or contact:
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Certain statements and other information included in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws, including the "safe harbour" provisions of provincial securities legislation and the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Forward-looking statements are typically identified by the words "believe," "expect," "anticipate," "intend," "estimate," "outlook," "focus," "potential," "will," "should," "would," "could," and other similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements as it is subject to known and unknown risks and uncertainties that 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. Except as required by law, there is no intention or obligation to update or revise any forward-looking statements as a result of new information or future events, except as required by law.
This press release does not constitute any investment advice or any solicitation or offer to buy or sell any securities. No representation is made on the accuracy or completeness of the information contained in this press release, and the Company does not accept liability for any errors or omissions in the contents of this press release that arise as a result of transmission. The Company may not update the information in this press release. The Company does not waive any rights, privileges or other protections that the Company may have with respect to the information in this press release.
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