Good Gaming Inc. Announces ViaOne Services ' Intent to Purchase Up to 10% of Its Common Shares in the Open Market
KENNETT SQUARE, Pa., Jan. 16, 2025 (GLOBE NEWSWIRE) -- via IBN -- Good Gaming Inc. (OTCQB: GMER) (the "Company "), an innovative brand creating unique interactive entertainment experiences since 2008, is pleased to announce that ViaOne Services ( "ViaOne "), already a substantial investor in Good Gaming Inc., intends to purchase up to 10% of the Company 's shares in the open market in 2025.
ViaOne has been a steadfast supporter of Good Gaming Inc., demonstrating its continued commitment through substantial financial backing, including financing exceeding $2 million, which has now been converted into equity investments. This move reinforces ViaOne 's belief in Good Gaming Inc. 's potential and aligns its interests with those of our shareholders. ViaOne plans to increase its position as a major shareholder in the Company by accumulating up to 10% of the outstanding shares in Good Gaming Inc. Shares will be purchased in the open market and accumulated over time.
The decision for ViaOne to increase its equity stake follows a recent "Think Tank " session, where its brightest employees and consultants collaborated to explore innovative paths for the Company. The event resulted in a renewed vision for Good Gaming Inc., aimed at addressing the growing challenges and opportunities within the mobile app gaming sector. The Company identified what it believes is a significant opportunity that has yet to be exploited, particularly for global game developers, especially in the "play-to-earn " and digital currency spaces.
The mobile gaming industry is experiencing unprecedented growth, particularly in the Web2 and Web3 markets. According to Statista, the global mobile gaming market is projected to reach an astounding $432 billion by 2028, with an estimated 1.9 billion gamers. The Company believes that this creates a unique opportunity for Good Gaming Inc. to capitalize on the surging demand for play-to-earn mobile app games.
Looking forward, Good Gaming Inc. has made a strategic decision to shift its focus from game development in 2024 toward marketing and distributing globally recognized mobile app games to enhance its presence in the U.S. market in 2025 and the foreseeable future. This focus will be supported initially by partnerships with ViaOne subsidiaries, enTouch Wireless and Assist Wireless, whose expertise in cellular communications will be crucial in facilitating marketing initiatives and the distribution of cellular devices pre-loaded with popular games. However, there are plans to expand their distribution capabilities through additional carriers as well.
"I am confident that Good Gaming is on the brink of an exciting future, " said Jordan Axt, CMO of Good Gaming Inc. "By learning from our past experiences, focusing on our core strengths, and leveraging current and future global partnerships, we believe that we are well-positioned to seize several incredible opportunities that lie ahead in the mobile gaming market. " He also stated, "As Good Gaming moves forward, we are enthusiastic about our growth potential in the latter part of this year and the valuable support from ViaOne Services, which continues to reinforce our strategic endeavors. "
For more information about Good Gaming Inc, please visit our website:
https://www.good-gaming.com
For more information about ViaOne Services:
https://www.viaoneservices.com
Safe Harbor: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in several places in this release and include all statements that are not historical facts regarding the intent, belief, or current expectations of Good Gaming Inc., its directors, or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may, " "would, " "will, " "expect, " "estimate, " "can, " "believe, " "potential, " and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Good Gaming Inc. 's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Good Gaming, Inc. 's filings with the Securities and Exchange Commission, including those set forth as "Risk Factors " in such filings.
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