|By Marketwired .||
|December 2, 2013 06:00 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 12/02/13 -- TransGaming Inc. (TSX VENTURE: TNG), the global leader in developing and delivering platform-defining social video game experiences to consumers around the world, announced today that Bristol Capital has been retained beginning this month to assist the Company in achieving greater visibility with institutional investors in the United States, Canada and Europe.
Under the terms of the agreement, which is subject to approval by the TSX Venture Exchange, Bristol will receive $6,000 per month, and subject to approval of the Board of Directors of the Company, will also receive options to acquire up to 400,000 common shares of the Company exercisable for a period of 3 years. If approved, the options will vest at a rate of 100,000 shares per quarter over the first year of the agreement and have an exercise price equivalent to the closing market price of the Company's stock at the time of approval. The Agreement can be cancelled with 1 month's notice in writing after the first 6 month period.
In addition, the Company also reported today that its agreement with Wolfe Axelrod Weinberger Associates LLC, previously announced in April 2010, to provide investor relations services in the United States was terminated.
About TransGaming Inc.
TransGaming Inc. (TSX VENTURE: TNG) is the global leader in developing and delivering platform-defining social video game experiences to consumers around the world. From engineering essential technologies for the world's leading companies, to engaging audiences with truly immersive interactive experiences, TransGaming fuels disruptive innovation across the entire spectrum of consumer technology. TransGaming's core businesses span the digital distribution of games for Smart TVs, next-generation set-top boxes, and the connected living room, as well as technology licensing for cross-platform game enablement, software 3D graphics rendering, and parallel computing. Visit us at http://transgaming.com
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.