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Graffiti Games Ltd. Provides Corporate Update and Announces a Non-brokered Private Placement

VANCOUVER, British Columbia--(BUSINESS WIRE)--#BlueFire--Graffiti Games Ltd. (the “Corporation” or "Graffiti Games"), a leading video game publisher, is pleased to provide a Corporate Update and announces a non-brokered private placement.


Corporate Update

Blue Fire Video Game Release
Graffiti Games, a leading video game publisher, is pleased to provide an update on the Blue Fire video game, which was released in partnership with Argentina-based Robi Studios. The game was released to chart-topping results and much fanfare, propelling the 3D action-adventure platformer to No. 6 in “Best Sellers” in the Nintendo eShop and the No. 1 spot in Steam’s “New and Trending” section.

Subsequent to its release in early February 2021, Blue Fire has earned additional accolades, including:

  • No. 6 in “Best Sellers” in the Nintendo eShop
  • No. 1 in Steam’s “New Releases”
  • Top-4 title in the eShop’s “Featured” section
  • No. 1 Steam community recommended game
  • Featured release on Nintendo.com
  • More than 600,000+ views of the game’s launch trailers
  • More than 730 million launch week media and social impressions

Blue Fire is available on the Nintendo Switch™ as a console exclusive and on PC for $19.99 USD. The game will launch on additional consoles and as a physical retail edition in the coming months.

“Robi Studios worked tirelessly to create a high-quality game for the community to enjoy, which is reflected in Blue Fire’s chart-topping success and sales, both of which allowed us to recoup the development costs within the first 24 hours,” said Alex Josef, CEO of Graffiti Games. “It’s great to see our model of backing and partnering with emerging talent in the game development space continue to gain momentum and we look forward to continued success for Blue Fire and our other titles as we move forward.”

In Blue Fire, players embark on an extraordinary adventure through the desolate kingdom of Penumbra to discover the hidden secrets of this long-forgotten land. Explore mystical temples, where players will need to master the art of movement to survive increasingly difficult 3D platforming challenges. Along the adventure, players will slash their way through diverse adversaries, encounter survivors, collect valuable items, take on strange quests and more.

For more information regarding Blue Fire please visit Graffiti’s Twitter page, Robi’s Twitter page or the Blue Fire Discord.

2020 Highlights
Graffiti Games had a strong 2020 and achieved several, major company objectives, including:

  • 10 titles released to date (23 SKUs)
  • 10 percent year-over-year growth in revenue
  • More than 200,000 game units sold across all platforms
  • More than 30 global distribution partners, including Steam, Nintendo, Sony, Microsoft, Google Stadia, and Amazon

2021 Highlights and Beyond
Graffiti has achieved several, major objectives already in 2021, including:

  • Secured first physical retail distribution deal that will see Blue Fire available in major brick and mortar retailers, including GameStop and Best Buy
  • Secured first Asian distribution deal for territories outside of Japan
  • Secured two new titles for launch in 2022

Non-Brokered Private Placement

The Corporation announces that it intends to complete a non-brokered private placement of up to 5,000,000 common shares of the Corporation at a price of $0.30 per share for aggregate gross proceeds of up to $1,500,000.

The proceeds of the private placement will be used for general operating purposes and working capital.

Media Assets
Trailer for Blue Fire: https://www.youtube.com/watch?v=R0wPny3_8nQ

About Graffiti Games
Graffiti Games is a North American video game publisher comprised of industry OGs with a powerful, global distribution network encompassing both digital and physical retail partners across the world to maximize sales potential. As of March 2021, Graffiti Games has released 10 titles across 23 SKUs. To find out more about Graffiti and our portfolio please visit www.graffitigames.com.

About Robi Studios
Robi Studios is a game development company based in Cordoba, Argentina. We're a young and very passionate team dedicated to game development on PC and console. To find out more about Robi Studios please visit https://www.robistudios.com/.

Cautionary Statements

Statements in this press release may contain forward-looking. The words "will," "anticipate," believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Corporation. Readers are cautioned that assumption used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. The Corporation does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.


Contacts

Press: press@graffitigames.com

Investor Relations: Ben Leung
investors@graffitigames.com

IMPORTANT DATES
2021 SCHEDULE

May 1: Call for Judges
July 1: Call for Entries
Aug 13: Early Bird Deadline
Sept 30: Entry Deadline
Dec 1, 2020: Finalist Announcement
Feb 2022: COPA Awards (TBA)

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