Current Report No. 2/2024 ESPI – Termination of the investment agreement relating to BoomPick Games sp. z o.o.

April 15, 2024

Company: CHERRYPICK GAMES S.A.

Subject: Termination of the investment agreement relating to BoomPick Games sp. z o.o.

Legal basis: Art. 17 section 1 MAR – confidential information.

Report content:

Regarding the current ESPI report No. 4/2022 dated February 21, 2022, regarding the conclusion of an investment agreement with BoomBit S.A. (“Investment Agreement”), the Management Board of Cherrypick Games S.A. (“Issuer”, “Company”) informs about the receipt of a mutually signed agreement with BoomBit S.A. regarding the termination of the Investment Agreement and the cessation of activities in the joint venture in BoomPick Games sp. z o.o. (“Agreement”) dated April 10, 2024. The Agreement came into effect on the date of its conclusion.

To implement the Agreement and terminate its participation in the joint venture, the Issuer entered into the following agreements:

1. Agreement to sell all of its shares (40 shares) in BoomPick Games sp. z o.o. to BoomBit S.A. at a price equal to their nominal value.
2. Agreement to release BoomPick Games sp. z o.o. from the debt arising from a loan in the amount of 200,000 PLN along with contractual interest.
3. Agreement to terminate the provision by the Issuer to BoomPick Games sp. z o.o. of a non-exclusive license to use the rights to selected games.

Under the Agreement, the parties mutually released each other from any past, present or future claims, demands, obligations, and compensations that exist or could arise based on the previous cooperation of the parties or the provisions of the Investment Agreement. The parties stated that they have no claims against each other in connection with the conclusion and performance of the Investment Agreement or the course of cooperation between the parties.

The value of the loan granted to BoomPick Games sp. z o.o. was fully covered with the provision in the Issuer’s balance sheet as of December 31, 2023, therefore, the concluded Agreement will not affect the financial position and results of the Issuer in the current reporting period.

 

—

Disclaimer: This English language translation has been prepared solely for the convenience of English-speaking readers. Despite all the efforts devoted to this translation, certain discrepancies, omissions or approximations may exist. In case of any differences between the Polish and the English versions, the Polish version shall prevail.