Altitude Games, a company minority owned by listed firm Xurpas Inc., announced last Tuesday that its board has approved the sale of its assets, including intellectual property and licenses, to a company registered in Australia. Know more:
Altitude Games, a company minority owned by listed firm Xurpas Inc., announced last Tuesday that its board has approved the sale of its assets, including intellectual property and licenses, to a company registered in Australia.
“With the sale of Altitude Games’ business, Altitude will be able to settle the convertible debt it has previously issued to Xurpas,” the company said in its disclosure. “The sale of the assets and business of Altitude Games will be made effective upon signing of the definitive agreements. Xurpas will receive the proceeds from the sale and discharge of liabilities, upon completion of certain deliverables,” the company said.
In February, Xurpas board has approved to establish a presence in Australia, by creating a unit there.
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