https://newsweb.oslobors.no/message/459276

COPENHAGEN, September 13th, 2018: Hugo Games (OMX: HUGO) is in the process of acquiring the Sacramento-based game developer 5th Planet Games (as mentioned in announcement 33 on September 10th, 2018) and is now able to unveil the following details about the deal and the potential results.

Please notice that the negotiations about the acquisition are ongoing and that further details will be publicized upon completion.

- The price of acquiring 5th Planet Games will be approximately $1.2 million USD.

- Hugo Games will use its existing liquidity to buy 5th Planet Games.

- Because the acquisition is based on already available funds it will NOT cause any dilution for the existing shareholders.

- 5th Planet Games have had a revenue stream of between $60,000 and $80,000 USD a month in 2018. That's approximately twice as much as the current Hugo Games revenue, which means that Hugo Games' current revenue will triple in size when merged with 5th Planet Games.

- 5th Planet Games is expected to launch the mobile game sequel "Dawn of the Dragons 2" in Q2 2019. The original "Dawn of the Dragons" has so far grossed a revenue of $27.7 million USD. Hugo Games believes the sequel has a potential to be on the same level or even higher.

- The acquisition price of $1.2 million USD includes the anticipated expenses going into finishing and publishing "Dawn of the Dragons 2".

Hugo Games' CEO Henrik Nielsen would like to empathize that he is confident that the acquisition of 5th Planet Games is in line with the goal of creating a positive Hugo Games EBITDA in Q4 2018. He sees big possibilities in going forward together.

"I'm very excited about the possibility of merging with 5th Planet Games - basically because I believe we are a perfect match," says Henrik Nielsen. "We have high expectations regarding 'Dawn of the Dragons 2.' 5th Planet Games have already proved that they are able to create a successful community-based game with a high degree of retention and monetization. Furthermore, we will not only acquire great games - we will also acquire a highly skilled and productive 15-person team who has already proved their worth."