PopReach Closes US$7.5 Million Debt Refinancing Facility

New facility positions PopReach with a with a leading Canadian Schedule I Bank to support future growth

TORONTO, Oct. 2, 2020 /CNW/ - (TSXV: POPR) – PopReach Corporation ("PopReach" or the "Company"), a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises, is pleased to announce that its wholly-owned subsidiary, PopReach Incorporated, has closed the previously announced US$7.5 million senior secured credit facility (the "New Facility") with a leading Canadian Schedule I Bank (the "Lender"). Principal terms of the New Facility are set out in the Company's previous press release and available on SEDAR at www.sedar.com.

With the closing of the New Facility, PopReach has retired its previous credit facility with US$6.2 million drawn from its new US$6.5 million term facility, maturing in 24 months.

"The closing of this debt facility is an important milestone for PopReach that significantly lowers our cost of capital while providing increased financial flexibility," said Christopher Locke, President, COO, and Co-Founder of PopReach. "We are excited that the Lender, after extended due diligence associated with the New Facility, has decided to partner with PopReach with a view towards long-term growth."

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About PopReach Corporation

PopReach, a Tier 1 Technology Issuer on the TSX Venture Exchange, is a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises. The company has acquired 12 successful game franchises competing mainly in the North American game market, including Smurfs' Village (IP under license), Kitchen Scramble, Gardens of Time, City Girl Life, War of Nations and Kingdoms of Camelot. The company's franchises are enjoyed by over 1.2 million unique players a month. PopReach, headquartered in Toronto, employs a team of over 120 experts in Toronto, and Bangalore.

Forward-looking Information

Certain information in this news release constitutes forward-looking statements and forward-looking information under applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information include, but are not limited to, statements with respect to and the business, financials and operations of the Company. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements and future events to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the public documents of the Company available at www.sedar.com. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Investors are cautioned undue reliance should not be placed on any such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE PopReach Corporation