Jumpgate

Jumpgate has decreased the indebtedness with 24.5 million SEK, primarily through payments of the remaining consideration for the acquisition of Nukklear and an amortization of 10 million SEK on an interest-bearing loan. This has been enabled by proceeds from the sale of Tivola's mobile games portfolio as well as the recent rights issue. Following the payments, the Company still has an interest-bearing loan of 11 million SEK.

"An important part of our strategic plan is to reduce the indebtedness and the financial risk in the Company. Thus, it's very positive to be able to announce that we have now reduced the indebtedness significantly and thereby also the capital costs, which together with the already executed cost savings are important steps towards profitability. We are now able to increase our focus on business development, where we expect additional deals which increase our revenue", says Harald Riegler, CEO Jumpgate AB.

For additional information

Harald Riegler CEO, Jumpgate AB Phone: +46 (0)705 - 54 73 33 E-mail: harald@jumpgategames.se

About the Company

Jumpgate AB is an independent group of game development companies founded in 2011, comprising five game studios: Nukklear (Hannover), Tivola Games (Hamburg), gameXcite (Hamburg), Funatics (Düsseldorf) and Tableflip Entertainment (Visby). The group develops and publishes its own games as well as developing games and other digital products for external companies. The companies in the group have established collaborations with strong industry partners and exciting product portfolios with large potential. The group is engaged in the global market, distributing games on a worldwide basis and has a large international network. For more information: www.jumpgategames.se