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Kiron Interactive Signs Five-Year License Agreement With Phantom Fiber
Press Release
MARCH 1, 2006
TORONTO, ONTARIO--(CCNMatthews - March 1, 2006) -
Phantom Fiber's Advanced Wireless Platform to Power Leading Skills-Based Software Solution to the Gaming Industry
Phantom Fiber Corporation (OTCBB:PHFB), the leading developer of wireless platform software announced today a five-year exclusive license agreement with Kiron Interactive (Pty) Ltd., a leading software solution provider for the skills-based gaming industry. The business terms of the agreement are based on a revenue share model in which both parties will share in the revenue generated from mobile players.
Kiron Interactive (Pty) Ltd is a specialist software development company focused on the development, design and operation of innovative, skills-based interactive games. These games are available across multiple media platforms such as the Internet and mobile phones in addition to interactive TV and gaming kiosks. Kiron Interactive's growing list of clients include Ladbrokes, UK Betting Group, Independent News and Media, Cashcade and Attheraces with the core thrust of development and sales activity focused in the virtual horse racing arena with Turfmaster, the flagship product that turned virtual horse racing into a household phenomenon within the United Kingdom based on patent-pending technologies.
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Jeff Halloran, President and CEO for Phantom Fiber Corporation stated, "With the recent surge in virtual horse racing on the Internet, a mobile extension was the next logical step in the growth of this product offering. Beyond the PC, the entertainment value involved with monitoring races, managing personal stables and many other variables within the horseracing industry makes the move to a mobile environment a logical evolution for Kiron. Phantom Fiber's ability to deliver streaming video content and manage high speed transactions in a graphically rich presentation coupled with Kiron's creative and exciting virtual horse racing product made the decision to partner with them a very simple and obvious one. The management experience and talent at Kiron in delivering the necessary level of complexity in a comprehensive framework will certainly make them a leader in the industry and we are extremely excited to be a part of that."
Steven Spartinos, Business Development Director for Kiron Interactive (Pty) Ltd. commented, "With a strong footprint in the UK at the moment and plans to expand into continental Europe and North America in 2006, we decided that our virtual racing games would be complemented with broader reach and distribution through an advanced wireless platform solution that could serve multiple markets with the myriad of devices available in jurisdictions worldwide. With Phantom Fiber, our virtual racing products will be available to over 1000 mobile devices worldwide allowing punters to create racing profiles, select horses and choose set and instant play horserace events for truly interactive entertainment which can engage virtually any gamer on the move. We look forward to establishing a deployment roadmap for our client base in 2006 and enable their offering with mobile virtual racing products which are bound to gain traction in the mobile gaming sector with similar results already experienced in the United Kingdom with our Internet-based products."
Safe Harbor Statement
Some statements in this release are "forward-looking statements" as that term is defined in Sections 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"), and are subject to certain risks and uncertainties, including, but not limited to, economic conditions, competition, changes in laws and the demand for the company's goods and services, which could significantly affect anticipated future results. Actual results may differ materially from any forward-looking statements.
About Kiron Interactive (Pty) Ltd.
Kiron Interactive (Pty) Ltd is a leading developer and operator of games in the skills based gaming industry. Kiron's games have been successfully operated on the Internet since 2001 and are currently utilized by a variety of high profile gaming and media operators. They offer partners the opportunity to differentiate their product offering and grow their database as well as generate attractive new revenue streams. Kiron's products are available on a managed service and licensed basis for deployment across a variety of delivery platforms including the internet, interactive TV, TV broadcast, kiosks and mobile.
About Phantom Fiber Corporation
Phantom Fiber Corporation (OTC Bulletin Board: PHFB - News) is the leading developer of wireless platform software that enables its customers to deliver high-performance applications across global communications networks to mobile users. Phantom Fiber's wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to a wide array of wireless devices including PDAs and programmable cellphones. This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote medical record access; securities research and trading; and the management of logistics and distribution. Phantom Fiber's Advanced Wireless Platform supports over 1000 mobile devices worldwide.
For Investor Relations, please contact:
The Investor Relations Group - Jordan Silverstein
11 Stone St., 3rd fl, New York, NY 10004
(212) 825-3210
(212) 825-3229 (FAX)
jsilverstein@investorrelationsgroup.com
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