Global Gaming Technologies Corp (2)
Symbol GGAM
Shares Issued 125,169,865
Close 2019-10-08 U$ 0.015
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Global Gaming licenses board game to Virsix
2019-10-09 15:15 ET - News Release
Mr. Andrey Kontyaev reports
GLOBAL GAMING TECHNOLOGIES ANNOUNCES A LICENSING AGREEMENT WITH VIRSIX GAMES, INC. FOR X2'S ST. NOIRE BOARD GAME
Global Gaming Technologies Corp., effective Sept. 25, 2019, through its wholly owned subsidiary, X2 Games Corp., has entered into a licensing agreement with Virsix Games Inc. Under the agreement, Virsix will have use of the licensed intellectual property for the St. Noire board game which can now be purchased on Amazon.
The company has been unable to secure working capital to finance X2 and to monetize the St. Noire board game. This relationship provides the necessary financing for the St. Noire board game to be manufactured, marketed and supported going forward.
In consideration for the licensed intellectual property, Virsix agrees to pay to X2 a 5-per-cent royalty on all gross margin amounts actually received by Virsix or its affiliates for any sales of the existing St. Noire board game product. Royalties payable shall accrue beginning at any time after the effective date and continue in perpetuity.
We seek Safe Harbor.
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