Leaf Games Achieve Record Revenue in April
High Growth Driven by Record Daily Active Users and Player Engagement
VANCOUVER, BC / ACCESSWIRE / May 26, 2020 / LEAF Mobile Inc. (TSX.V:LEAF), a leading creator and publisher of counter culture mobile games, had record setting results for the month ending April 2020, including total game gross revenue, installs and daily active users (DAU) across its portfolio of counter culture mobile games.
LEAF Mobile April 2020 Highlights
- Record monthly revenue for total Bud Farm franchise
- Successful launch of “Cheech & Chong” Bud Farm in remote work environment
- Legacy Games: Bud Farm 420 and Bud Farm Grass Roots return to growth.
Darcy Taylor, Chief Executive Officer, stated, “We are seeing very strong performance across our games portfolio resulting in significant revenue achievements which sets the pace to deliver in both topline revenue and positive EBITDA. With over $3M cash on hand, we are very well-funded to drive both user acquisition and organic growth in the fast-growing market segment of mobile gaming. Players want to engage in games that are highly relevant to their culture, where they can relate to the in-game experiences and build a community of like-minded players. We intend to deliver gaming titles to this highly underserved community to strengthen our portfolio and drive long term revenue and profitability for the Company.”
Game Title Portfolio April 2020 Results
- Bud Farm Idle Tycoon achieved a monthly record of $2.5M in revenue and $0.23M in net operating income. Driven by live ops expertise and execution, coupled with increased investment in player acquisition
- Cheech & Chong Bud Farm achieved $0.1M in April, post 4.20 launch. Supported by download ranking and highly favourable reviews
- Bud Farm 420 and Bud Farm Grass Roots had their strongest month in over a year with combined revenue of $0.4M. Driven exclusively by increased organic installs and daily active users.
The Company also announces that it has retained the services of New Era Publishing Inc. and separately of OGIB Corporate Bulletin Ltd, pursuant to which each has been paid to write reports and articles regarding the Company, for a combined fee of $390,000.00 The articles will be forthcoming in the months of May to November 2020 over the 6 month term of their respective agreements. Additionally, the company has retained investor relations services of Kin Communications Inc and Mobcast Ltd. UK for a term of 12 months and 3 months respectively, commencing May 27th and May 11th, pursuant to which each will be paid a combined fee of $486,000, and will be granted 500,000 options with an exercise price of $0.40 The options shall vest over a twelve (12) month period, with twenty-five (25%) percent vesting per quarter, commencing on the three (3) month anniversary of issuance, and shall be exercisable until the earlier of five (5) years from the date of completion of the Transaction, and ninety (90) days from the date of termination of agreement, subject to TSXV policies. Other than as disclosed, LEAF confirms that OGIB Corporate Bulletin Ltd and Kin Communications Inc hold common shares in the company. New Era Publishing Inc, and Mobcast Ltd. UK do not have any interest, directly or indirectly, in Leaf or its securities, or any right or intent to acquire such an interest.
About the Company
LEAF Mobile Inc. (TSX.V: LEAF) is a leading creator of counterculture mobile games. Headquartered in Vancouver, with a premier development studio, LDRLY based in Nanaimo, BC, the company is highly skilled in intellectual property, mobile game development, marketing and publishing. LEAF’s culture is anchored in creativity, data insights and execution, delivering highly engaging games that produce enduring player enjoyment. With over a decade of experience in game development and marketing, LEAF’s team has consistently delivered high-grossing original and licensed IP titles that include, Cheech & Chong Bud Farm, Bud Farm Idle Tycoon, Bud Farm Grass Roots and Bud Farm 420. Our game titles are available worldwide on the App Store and Google Play. LEAF leverages successes in platform, IP, marketing, development and data analysis to maximize value for our global network of constituents, from players to talent to shareholders and beyond.
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.
The preliminary monthly financial results set forth in this release are based on information currently available to us prior to platform partners reconciliation. While we believe these results are meaningful, they could differ from the actual amounts that we ultimately report in our Quarterly Report for the quarter ended June 30, 2020. We do not intend to update these estimates prior to filing our Quarterly Report.
This news release contains “forward-looking information” within the meaning of applicable securities laws. Although the Company believes – considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate – that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them as the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.