YuuZoo buys key assets of China mobile game developer

Singapore

MAINBOARD-LISTED social e-commerce firm YuuZoo on Tuesday said it has acquired the key assets of Shanghai-based mobile games developer Camigo Media: which include 11 mobile games, user data of over 26 million users and the Camigo brand.

YuuZoo said: "The full payment will be made in YuuZoo shares in accordance with the company's share issue mandate granted at the company's May 29 2015 AGM. At the time of this announcement, the shares used for the payment represent less than one half of one per cent of the issued shares of YuuZoo Corporation." Based on an approximate 632 million outstanding shares, and Tuesday's closing price of S$0.157, that comes up to about S$496,120.