European operations generate 46% of the new orders
Langley, BC / TheNewswire / April 1, 2019/ Iplayco Corporation Limited (TSX VENTURE: IPC) ("Iplayco" or the "Corporation") a leading manufacturer of fun, safe play structures enjoyed by children of all ages, is pleased to announce that it has entered into ten new large sales agreements totaling approximately US$6,082,000 to supply indoor playgrounds to customers located in North America, Europe, the Middle East and Asia.
Four of the ten large orders totaling approximately US$2,766,000 were obtained from customers located in Europe and the Middle East, as a result of Iplayco's operations in Europe, established 17 months ago following the acquisition of local brands, intellectual property and other assets. Iplayco's operations in North America accounted for approximately US$2,315,000, or 38% of the new large orders, from four customers in North America and one customer in the Middle East. Iplayco's operations in Asia obtained a contract of US$1,001,000, or 16% of the new orders, from one customer in the Philippines. Iplayco expects a substantial portion of revenue from these orders to be realized in its financial year ending September 30, 2019.
"I am very pleased that we are continuing to generate larger orders from across the world" said Scott Forbes, President and Chief Executive Officer of Iplayco. "We continue to see positive sales momentum going into the second half of our financial year."
Cautionary Note Regarding Forward-looking Statements
This news release contains "forward-looking statements" and certain "forward-looking information", within the meaning of applicable Canadian securities legislation, concerning the business, operations, financial performance and condition of the Corporation. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expected to", "intend", "continue", "plans", or similar terminology.
Forward-looking statements and information are based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of the Corporation to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Iplayco will operate in the future including but not limited to: unanticipated costs and expenses and uncertainties relating to the availability and costs of financing needs in the future.
Forward-looking statements and information are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Iplayco to be materially different from those expressed or implied by such forward-looking statements and information, including but not limited to: fluctuation in foreign exchange rates and interest rates; stock market volatility; the requirement for regulatory approvals and third party consents; the impact of general business and economic conditions; risks related to international operations and government relations; liability, competition, loss of key employees and other related risks and uncertainties. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements and information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements or information. Iplayco does not undertake to update any forward-looking information that are contained or are incorporated by reference, except in accordance with applicable securities laws.
Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed elsewhere in documents that are available to the public.
About Iplayco Corporation Limited
Iplayco is a global leader in the design and supply of premium-quality, fun, safe and durable indoor playgrounds for children of all ages. In its 20-year history, Iplayco has supplied playgrounds to over 60 countries worldwide. For more information, please visit www.iplaycoltd.com.
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Iplayco Corporation Limited
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