BBMF (GM) (USOTC:BBMF)
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BBMF Purchases Japanese Distribution Channels and Atlus Co. Ltd.
Increases Equity Investment in BBMF
TOKYO, Sept. 28 /Xinhua-PRNewswire/ -- BBMF Corporation (OTC:BBMF) (BULLETIN
BOARD: BBMF) announced today that it has signed two definitive agreements with
Atlus Co. Ltd. (Jasdaq: 7866), a leading manufacturer of gaming software for
platforms such as commercial arcade games and home gaming consoles.
Under a sale and license agreement, BBMF will purchase Atlus' Japanese mobile
distribution business for the aggregate purchase price of JPY 300,000,000 and
has been granted an exclusive, 10-year worldwide license to use Atlus' game
contents, characters and the Atlus trademark, with the exception of certain
mobile game contents, which license BBMF has received on a non-exclusive basis.
Atlus will receive from BBMF a percent of revenue earned from game
distribution.
Under a separate private placement agreement, Atlus will acquire approximately
additional 7.1% of BBMF for an aggregate investment of US$5,600,000, bringing
Atlus' interest in BBMF to approximately 9.4% of BBMF's outstanding shares.
Mr. Han Lian, Co-chairman and CEO of BBMF said, "This is a landmark transaction
for BBMF. It is our first acquisition. This acquisition provides us direct
access to the world's most important mobile gaming market and an opportunity to
leap forward to a new level of growth. We are the first international mobile
game company that has been able to penetrate the Japanese market and operate as
an established player in the local Japanese market.'
Mr. Antony Yip, Co-chairman and President of BBMF said, "This acquisition
allows for the optimal combination of our cost advantage and a mature
distribution platform in the world's deepest mobile gaming market.'
Mr. Nobuyuki Okude, President & CEO of Atlus, said, 'BBMF has demonstrated its
capability as a world class developer of mobile games. We are very pleased and
honored to be able to entrust our crown jewels and our brand name with BBMF.'
Mr. Harano Naoya, Chairman of Atlus said, 'Since we made our original
investment into BBMF, we have been continuously impressed with the execution
capability of its business strategy and the company's growth. We are very
pleased to have a partner like BBMF.'
Under the terms of the private placement agreement, Atlus will make an
investment of US$5,600,000 for 1,600,000 newly-issued common shares, at a price
of US$3.50 per common share. The shares are subject to a one-year lock- up
period. BBMF intends to use the proceeds from this private placement for
general corporate purposes, including potential future acquisitions.
The shares of common stock have not been registered under the Securities Act of
1933 and may not be subsequently offered or sold by the investors in the United
States absent registration or an applicable exemption from the registration
requirements.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy any security and shall not constitute an offer, solicitation or
sale of any securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
About BBMF Corporation
BBMF Corporation is one of the largest developers of mobile games in the world
with around 200 staff and presence in Japan, Hong Kong, China, Korea and the
US. BBMF games can be found on its web site, http://www.bbmf.net/ .
About Atlus Co Ltd.
Atlus Co., Ltd. is a leading developer of Playstation 2 and mobile games.
They're also the developer of the highly successful brand Megami Tensei which
has sold over 5,000,000 copies. The company operates mobile game and
entertainment services on all 3 carriers in Japan, namely, NTT Docomo's iMode,
KDDI's EZWeb and Vodafone Japan. Atlus is majority owned by Takara, a leading
toy company in Japan which owns brands including Transformers and Toshinden.
More information about Atlus can be found on its web site,
http://www.atlus.co.jp/ . More information about the Takara group can be found
on its web site, http://www.takaratoys.co.jp/ .
This press release contains forward-looking statements about BBMF's future
expectations, performance, plans, and prospects, as well as assumptions of
future events. The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to numerous factors
and uncertainties that could cause BBMF' Corporation's actual results to differ
materially from those expressed or implied by these statements, including
without limitation, changes in supply and demand within the gaming industry;
business and economic conditions and trends; continued success in technological
advances; possible disruption in commercial activities caused by political
disruption in China or Japan; reduced customer demand relative to expectations;
competitive factors; and other risk factors listed from time to time in the
company's SEC reports. Actual results may differ materially from our
expectations as the result of these and other important factors relating to
BBMF's business and product development efforts, which are further described in
BBMF's filings with the Securities and Exchange Commission. These filings can
be obtained from the SEC's website located at http://www.sec.gov/ . Any
forward-looking statements are based on information available to BBMF on the
date of this release, and BBMF assumes no obligation to update such statements.
For more information, please contact:
Anny Lian, Chief Financial Officer,
BBMF Corporation
Tel: +81-90-8849-6586
Fax: +81-3-4496-4231
Email:
Website: http://www.bbmf.net
http://www.atlus.co.jp
http://www.takaratoys.co.jp
DATASOURCE: BBMF Corporation
CONTACT: Anny Lian of BBMF Corporation, +81-90-8849-6586 or fax
+81-3-4496-4231, or