The Board of Directors of Cherrypick Games S.A. (the “Company”) announces that a letter of intent between the Company and Toronto-based PopReach Inc. (“PopReach”) (“LOI”) was entered into on November 8, 2019. Under the LOI, the parties agreed to negotiate to enter into a collaboration agreement to mutually support and collaborate on the improvement, production and release of games that are in the portfolio of both companies, such as Smurfs’ Village, Gardens of Time, City Girl Life, War of Nations (PopReach’s games) and Solitaire Tripeaks: Wildlife Adventure, My Spa Resort or Crime Stories (the Company’s games), using the Company’s expertise and services.

Pursuant to the LOI, the parties have also commenced negotiations to enter into an agreement to explore the potential of the Company with a view to PopReach making a strategic investment in the Company .The conclusion of the LOI does not give rise to financial obligations or result in the transfer of any rights or liabilities. The parties have agreed to negotiate exclusively to conclude the LOI until the LOI expires on 29 February 2020, but the parties may terminate their discussions and negotiations at any time without cause.

PopReach is an experienced entity specialising in the development, production, publishing and marketing of mobile and computer games.