SIGNING OF SIGNIFICANT AGREEMENT.
SIGNING OF SIGNIFICANT AGREEMENT.
Management Board of Forever Entertainment S. A. informs that on 23 September 2016. was signed a trilateral agreement (Agreement) between Forever Entertainment S. A. (FE), Square Enix Limited, based in London (UK) and Sushee based in Lannion (France).
This agreement was concluded in order to create and release of the game Fear Effect: Sedna (game) for PC and consoles, PS4, and Xbox One. Games premiere is planned for the II-nd half of 2017 years. The exact release date of Games will be transferred to a separate current report.
The tasks of the parties to the Agreement include, among others:
(I) Square Enix owns IP game Fear Effect, publisher and co-financing the project.
(Ii) Sushee is a developer and co-financing the project.
(Iii) FE is co-producer and co-financing the project responsible for the marketing on the platform Steam.
FE will be required to partially finance the creation of games in exchange for FE receives about 1/3 of the revenue from the sale of games. In order to provide funding for FE obligations under the Agreement, the Board intends to increase its authorized share capital of the company by the amount of PLN 2,215,601.20 in which the Company's Board obtains authorization to offer investors to 5,539,003 shares of the company. In the opinion of the board is the most effective way to raise the company's resources to finance commitments FE due to the time in which the measures should be obtained and the ability to flexibly adjust the number of shares for the financial needs associated with the production of games.
Fear Effect: Sedna is a continuation of the famous game Fear Effect and Fear Effect 2: Retro Helix. Previous two parts were issued consecutively in 2000 and 2001. Both games were very warmly received by both gamers and critics and has sold over a million copies. IP Fear Effect was reactivated under the Square Enix Collective, a concept presented by Sushee third of Fear Effect has been accepted by Square Enix, which enabled commencement of production Games. In May this year Sushee conducted a successful campaign kickstarter under which gathered more than 100,000 Euro from the players interested in purchasing games. With this campaign, Game has gained notoriety and interest in the media industry worldwide. In the production of Fear Effect: Sedna participate screenwriters previous two parts Fear Effect.
In the opinion of the board of signing and implementation of the agreement opens up new prospects for the Company, and will increase the visibility of future production FE (among other things: Hollow Shadow Over Isolation, Project Talos). Square Enix is one of the world's largest manufacturers and game publishers, Sushee is very creative and promising independent developer, their participation in the above project and a very well recognized IP Fear Effect cause that the probability of success of this project is very high, according to the board.
In the opinion of the board game sales will have a big impact on the Company's results in 2017 and in subsequent years, because of this agreement is important.
Materials from Fear Effect: Sedna will be presented at a press conference the FE, which will be held on October 3, 2016 in Warsaw.
