Business
SilverBirch completes Lighthouse acquisition
Accretive acquisition extends SilverBirch's foothold in game publishing TORONTO, July 31 /CNW/ - ...
About this update from Silver Bull Resources, Inc.
[{"type":"text","content":"\n\n\n\nAccretive acquisition extends SilverBirch's foothold in game publishing\n\n\nTORONTO, July 31 /CNW/ - SilverBirch Inc. (SVB: TSXV) announced today\nthat it has completed the acquisition of Lighthouse Interactive Game\nPublishing B.V., a Netherlands-based international video game publisher with\noffices in Montreal, Toronto and London, England.\n\n\nLighthouse was formed in 2005 by two successful industry veterans with a\ncombined 35+ year track record in the gaming sector. The company has published\nover 20 games to date and generated $2,600,000 in revenues for the year ending\n2007. Lighthouse is immediately accretive for SilverBirch, based upon an\napproximate multiple of 1.2 times revenues paid for the acquisition.\n\n\nIn addition, Lighthouse announces it has secured the worldwide publishing\nrights to the Massively Multiplayer Online Real-Time Strategy Game ("MMORTS")\nDawn of Fantasy (http://dawnoffantasy.com) developed by Reverie World Studios.\nThe game immerses players in an intense story of a battle for supremacy in the\nmagical realm of Mythador(TM) that include Dragons, Elves and Orcs. Lighthouse\nco-founder, Erik Schreuder said, "We worked hard to make this happen, and\nsecuring the publishing rights to such an amazing game is a fitting start to\nthe new relationship."\n\n\nWojtek Kawczynski, SilverBirch SVP, and General Manager of the gaming\nunit added, "This is an unprecedented opportunity for a Canadian company to\nbecome a fully integrated developer and publisher of games for all platforms\nand genres, and to acquire a company with the reputation and stature of\nLighthouse is a real coup."\n\n\nIn other news, the Company announced that its board has approved the\ngranting of 500,000 options at $0.25 to Aberdeen Gould Capital Markets Ltd.\nand 400,000 options at $0.25 to Bristol Capital Ltd. for consulting services.\nOptions will have a term of three years and will partially vest every three\nmonths, subject to exchange approval.\n\n\nAbout SilverBirch Inc.\n\n\nToronto-based SilverBirch is a fully integrated developer, publisher and\ndistributor of high quality interactive media content and, through its Jambo\nMobile division, provides mobile marketing and direct-to-consumer mobile\ncontent. In addition, the company is a multi-platform video game developer and\noperates an ...