Kinda Brave signs term sheet with European based publisher
Umeå 2024-06-28
Kinda Brave Entertainment Group AB (publ) (“Kinda Brave” or the “Company”) has through its wholly owned subsidiary, Windup Games AB (“Windup”), entered a non-binding term sheet with a European based publisher, for the publishing rights of the Company’s unannounced flagship title.
Kinda Brave has been negotiating a potential publishing deal with multiple parties over the past nine months for the Company's unannounced "flagship title". As part of the process of finalizing an agreement, the Company has today signed a non-binding term sheet with a European publisher where the indicative terms have been finalized.
The final agreement shall, according to the term sheet, include exclusive global rights for the publisher to distribute and sell the Company’s game – referred to as the "flagship title" – on the major global platforms on PC and consoles.
According to the term sheet, Windup is expected to receive a total compensation of USD 4.5 million. Out of that amount USD 3.8 million will be paid in cash, provided that the Company meets certain milestones for the development of the flagship title. The remaining amount will be used to cover the publisher’s costs relating to dedicated marketing of the flagship title, general publishing-related expenses and costs related to quality assurance of the product in relation to the publishing etc.
"This validates the potential in our flagship project, which is led and developed by talented individuals with previous successes on the big stage. Moving forward, our focus will be on completing the negotiations for a final agreement." - CEO, Christian Kronegård
For more information, please contact:
Christian Kronegård, CEO
www.kindabrave.com
This information is information that Kinda Brave Entertainment Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-06-28 18:12 CEST. The persons above may also be contacted for further information.
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This press release is a translation from the main language, which is Swedish.
About Kinda Brave Entertainment Group AB (publ)
Kinda Brave is a modern gaming group focused on acquiring, owning, and developing game studios and intellectual properties, as well as establishing a division dedicated to third-party game publishing. The company currently consists of four game studios and a small publishing team. Kinda Brave's vision is to create a unique entertainment group with strong intellectual properties in various areas, including TV series, movies, and comics.
The company's Certified Adviser is Eminova Fondkomission AB | 08-684 211 10 | adviser@eminova.se