Tickers: XTSX:IPC, PINX:IPPQF
Tags: Children
European operations generate 56% of the new orders
Langley, BC / TheNewswire / January 23, 2019 - Iplayco Corporation Limited (TSX VENTURE: IPC) ("Iplayco" or the "Corporation") is pleased to announce that it has entered into ten new sales agreements totaling approximately US$3,581,000 to supply large indoor playgrounds to customers located in Europe, the United States, and the Philippines.
Five of the ten orders totaling approximately US$2,000,000 were obtained from customers located in Europe, as a result of Iplayco's operations in Europe, established 15 months ago following the acquisition of local brands, intellectual property and other assets. Iplayco's operations in North America accounted for US$843,000, or 23% of the new orders, from three customers in the USA, and Iplayco's operations in Asia obtained two contracts totaling USD$738,000, or 21% of the new orders, from one customer in the Philippines. Iplayco expects a substantial portion of revenue from these orders to be realized in its second quarter ending March 31, 2019.
"I am very pleased that our team's relationships in different parts of the world continue to generate larger orders" said Scott Forbes, President and Chief Executive Officer of Iplayco. "We want contributions from our operations located on three different continents, and that is what we are getting with the current confirmed orders."
Cautionary Note Regarding Forward-looking Statements
This news release contains "forward-looking statements" and certain "forward-looking information", within the meaning of applicable Canadian securities legislation, concerning the business, operations, financial performance and condition of the Corporation. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expected to", "intend", "continue", "plans", or similar terminology.
Forward-looking statements and information are based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of the Corporation to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Iplayco will operate in the future including but not limited to statement with respect to successful filling of director vacancies.
Forward-looking statements and information are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Iplayco to be materially different from those expressed or implied by such forward-looking statements and information, including but not limited to: risks related to fluctuation in foreign exchange rates and interest rates; stock market volatility; the impact of general business and economic conditions; risks related to international operations and government relations; liability, competition, loss of key employees and other related risks and uncertainties. Although Iplayco has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements and information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements or information. Iplayco does not undertake to update any forward-looking information that are contained or are incorporated by reference, except in accordance with applicable securities laws.
Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed elsewhere in documents that are available to the public.
About Iplayco Corporation Limited
Iplayco is a global leader in the design and supply of premium-quality, fun, safe and durable indoor playgrounds for children. In its 20-year history, Iplayco has supplied playgrounds to over 60 countries worldwide. For more information, please visit www.iplaycoltd.com.
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For more information, please contact:
Iplayco Corporation Limited
Max Liszkowski
Chief Financial Officer
Tel: 604-607-1111
This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell the shares or a solicitation of a proxy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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