TORONTO, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Kuuhubb Inc. (“Kuuhubb” or the “Company”) (TSX- V: KUU), a mobile game development and publishing company focused on providing the female audience with creative interactive gaming experiences, announces that, further to its news releases dated August 19, 2020 and November 30, 2020, it has entered into an agreement with Cherrypick Games S.A. (“Cherrypick”) to amend (the “Amendment”) the settlement terms to the settlement agreement (the “Settlement Agreement”) relating to the acquisition of the My Hospital application from Cherrypick. Pursuant to the Amendment, Kuuhubb shall pay to Cherrypick: (i) €100,000 (approximately CAD$153,700) on or before February 7, 2021 and €150,000 (approximately CAD$230,550) on or before February 15, 2021, which payments replace and supersede the second payment (the “Second Payment”) of €250,000 (approximately CAD$384,250) under the Settlement Agreement; and (ii) €1,085,507 (approximately CAD$1,668,424) on or before the earlier of a sale of Recolor Oy and August 31, 2021, which payments replace and supersede the third payment (the “Third Payment”) of €1,059,707 (approximately CAD$1,628,770) under the Settlement Agreement, as well as interest of €4,257 (approximately CAD$6,543) relating to the Second Payment as well as interest of €21,543 (approximately CAD$33,112).
Kuuhubb Announces Amendment to Payment Schedule of Settlement Agreement and Exercise of Warrants
Feb 08, 2021
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