VANCOUVER, Oct. 17, 2019 /CNW/ - Axion Ventures Inc.
("Axion" or the "Company") (TSX VENTURE: AXV; OTCQX: AXNVF)
announces that the Company has commenced the build-out of a
prototype of 'Rising Fire Mobile', the multi-platform mobile
version of Axion's 'Rising Fire' PC video game that is currently
available on Tencent Holdings Limited
(HKG: 0700)(OTC: TCEHY)("Tencent")
WeGame platform.
Rising Fire Mobile
Given the immense success of mobile titles such as Tencent's
'PUBG Mobile' and Garena's 'Free Fire' in the Asian video game
market, Axion is producing a prototype of Rising Fire Mobile in
preparation of an expected commercial expansion of the Rising Fire
IP. Todd Bonner, CEO of Axion,
states, "the Rising Fire Mobile design is currently being built at
Axion's Shanghai HQ in close collaboration with Tencent and is poised to be a natural expansion
of the Rising Fire IP. As the nature of our discussions with
Tencent mature, Axion will provide
further details on this title including the potential commercial
framework for this collaboration. The categoric shift within the
video game industry towards mobile gaming presents an important
opportunity for the wider commercial success of Rising Fire as a
multi-platform, global IP backed by Tencent."
Rising Fire
Axion's flagship video game, Rising Fire, is in the final stages
of tuning with distribution partner, Tencent. Currently, Axion and Tencent are collaborating on a final content
patch based on Tencent driven designs
that include core gameplay enhancements, more adaptive AI, new
weapons and related monetization aspects. The outcome of this patch
is expected to generate the commercially viable build of Rising
Fire that both Axion and Tencent have
been tuning in 2019 and allow Tencent
to commence a marketed launch on WeGame for the PC segment in
China in early 2020.
New Co-Development Partner
Separately, Axion has entered into late stage negotiations with
another leading Asian publisher to co-develop a new mobile shooting
game and management believes that the discussions will likely
result in material upfront payments. Axion is expecting a final
contract that would commit the publishing partner to cover a
majority of the development costs in return for the global
publishing license.
CEO Todd Bonner further
commented, "As we seek to expand and diversify our portfolio, Axion
is benefitting from the leverage of unique co-development
opportunities with large industry players versus outsourcing or the
current IP licensing model. While Axion is working closely with
Tencent on commercially launching
Rising Fire PC in the near term, global co-development deals also
allow closer engagement with a broader spectrum of industry leaders
capable of worldwide distribution beyond just China. This will allow Axion to expand and
continue to monetize its portfolio without requiring major capital
outlays, further generating value for our stakeholders by
continuing on a defined path towards reaching an EBITDA positive
milestone in the near future."
About Axion
Axion is a video game company with majority ownership in Axion
Games, an online video game development and publishing company
headquartered in Shanghai, China
as well as in True Axion Interactive Ltd., its video game
development company headquartered in Bangkok, Thailand cofounded with True
Corporation.
www.axionventures.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement Regarding Forward-Looking
Information
Certain statements contained in this press release may
constitute forward-looking information. These statements relate to
future events or future performance. The use of any of the words
"could", "intend", "expect", "believe", "will", "projected",
"estimated", "proposed" and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on Axion's
current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially. In
particular, this release contains forward-looking information
relating to global distribution of the Game on multiple platforms;
formalizing and completing a long form agreement; launch date of
the Game; and expected Rising Fire shareholder updates. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
information. Those assumptions and factors are based on information
currently available to Axion. Risk factors that could cause actual
results or outcomes to differ materially from the results expressed
or implied by forward-looking information include, among other
things: general economic and business conditions; and changes in
international regulatory regimes. Axion cautions the reader that
the above list of risk factors is not exhaustive. The
forward-looking information contained in this release is made as of
the date hereof and Axion is not obligated to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
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SOURCE Axion Ventures Inc.
