Amsterdam, August 8, 2007 - Playlogic Entertainment, Inc. (OTCBB:PLGC) announced that it has entered into a strategic partnership with Spencer Clarke LLC, a New York-based, full service investment banking and retail brokerage firm. Spencer Clarke will provide investment banking and financial advisory services including assisting Playlogic with capital market opportunities, raising visibility and heightened investor relations.
“It is a great opportunity for Playlogic to be working with a highly regarded firm like Spencer Clarke.” comments Rogier W. Smit, Playlogic’s Executive Vice President. “Their representatives arrived in Amsterdam and showed their desire to understand our specific needs. We feel this approach could positively contribute to our exposure and growth.”
“We are very content that Spencer Clarke will be assisting us in the future growth of Playlogic. It’s a partnership and alliance that brings us extensive industry experience which assists us beyond a capital raise.” comments Wilbert Knol, CFO of Playlogic. “It’s an exciting time for the industry, an exciting time for Playlogic and Spencer Clarke has stepped in at the right time.”
“”We are delighted to work with the Playlogic management team as it seeks growth capital and alliances that will help the firm expand within the worldwide gaming industry. This is the fastest-growing entertainment media segment during the next five years. Global video game spending will increase to $55.6 billion in 2008, at a 20.1 percent CAGR according to PricewaterhouseCoopers.” notes Geoffrey Finkel, Vice President of Investment Banking at Spencer Clarke.
“The company has demonstrated its ability to bring quality games to market, and has an exciting line up.” added Joseph Turpin, Vice President of Investment Banking at Spencer Clarke. “Furthermore, as one of a limited number of publishers on all of the major platforms, they are in an excellent position to continue their growth.” says Joseph Turpin, Vice President of Investment Banking at Spencer Clarke.
About Spencer Clarke LLC:
Founded in 1997 in New York City, Spencer Clarke LLC is a full service brokerage and investment banking firm. They specialize in helping micro cap public and mid market private companies grow. Its team of experienced professionals assists those seeking: PIPE Transactions, Equity IPO's, Institutional Investors, Mergers & Acquisitions, Private Placements, Standby Note Facilities, Bridge & Permanent Financing, Convertible and Mezzanine Debt, Private Equity, Leverage and Mgt. Buyouts, and Growth and Exit Strategies. For more information:
www.spencerclarke.com.
About Playlogic:
Playlogic Entertainment, Inc. is an independent publisher of entertainment software for PCs, consoles, handhelds, mobile devices, and other digital media. Playlogic distributes its products worldwide through all available channels, online and offline. Playlogic, who currently has approximately 75 employees, is listed on the OTCBB under the symbol "PLGC" and is headquartered in New York and Amsterdam. Its internal game development studio is based in Breda (The Netherlands).
Playlogic's portfolio includes games that are being developed by several teams at the Playlogic Game Factory, Playlogic's in-house development studio based in Breda, as well as games developed by a number of studios throughout the world with approximately 300 people of external development staff. Currently, 10 games on 12 platforms are in the works including “Obscure II,” “Officers” and “Age of Pirates: Captain Blood” and “Evil Days of Luckless John” which will be published this year, and “Dragon Hunters” based on the animated TV series which will be published early next year. Recent world-wide releases include “Xyanide Resurrection,” “Ancient Wars: Sparta,” "Infernal,” "Age of Pirates: Caribbean Tales," “World Racing 2,” “Knights of the Temple 2” and “Gene Troopers.”
Playlogic publishes quality games, working with leading technology to produce digital entertainment from concept to finished product.
FORWARD LOOKING STATEMENTS
This release contains statements about Playlogic's future expectations, performance, plans, and prospects, as well as assumptions about future events. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, business and economic conditions and trends; fluctuations in operating results; reduced customer demand relative to expectations; competitive factors; and other risk factors listed from time to time in the company's SEC reports. Actual results may differ materially from our expectations as the result of these and other important factors relating to Playlogic's business and product development efforts, which are further described in filings with the Securities and Exchange Commission. These filings can be obtained from the SEC's website located at
www.sec.gov. Any forward-looking statements are based on information available to Playlogic on the date of this release, and Playlogic assumes no obligation to update such statements.
FOR MORE INFORMATION
Spencer Clarke LLC
Geoffrey Finkel, VP Investment Banking -
Email:
gfinkel@spencerclarke.com Telephone +1 212-446-6152
Joseph Turpin, VP Investment Banking -
Email:
jturpin@spencerclarke.com Telephone: +1 212-446-6102
505 Park Avenue / 4th Floor
New York, NY, 10022
T: +1 212-446-6100 (main number)
F: +1 212-446-6191
For further information about Spencer Clarke LLC, please visit
www.spencerclarke.comFor further information about Playlogic, please visit the Corporate Center at
www.playlogicgames.comSara Sky Schutte
Corporate PR & IR Manager
Playlogic International N.V.
Concertgebouwplein 13
1071 LL Amsterdam
The Netherlands
Phone +31 (0)20 676 03 04
Mobile: +31 6 13 73 20 10
Fax +31 (0)20 673 17 13
www.playlogicgames.comsschutte@playlogicint.com