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| Land | Sverige |
|---|---|
| Lista | Spotlight |
| Sektor | Sällanköp |
| Industri | Gaming |
Stockholm, March 1, 2024 - Beyond Frames Entertainment has signed a development agreement with a world-leading tech company to partially fund a previously announced project attached to a major IP. The project is currently in development within Cortopia Studios, a wholly-owned subsidiary of Beyond Frames Entertainment. Further details about the partnership and the game are undisclosed due to confidentiality agreements.
"This agreement further validates the strength of this IP and our vision for the game. On the finance side, this funding greatly contributes to our cash flow through the title's release, which we expect sometime in 2026", said Ace St. Germain, CEO for Beyond Frames Entertainment.
The agreed-upon development funding of $2.5 million USD, today valued at approximately 25.8 million SEK, will be recognized as revenue throughout the project. The funding party will recoup its part of the development funding and receive a share of revenues once the game is released.
The project is the third in production within Cortopia. All three productions have similar development agreements with external partners.
This disclosure contains information that Beyond Frames is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, at the time specified by the Company's news distributor Cision at the time of publication of this press release.