BEST Funds Starts 2012 with Exciting New TransGaming Investment

Toronto, Canada – 12 January 2012 – BEST Funds, a leading Canadian Private Equity and Venture Capital Firm, is very pleased to start off the new year with an exciting new investment in a Canadian-based company poised to experience significant growth in 2012. BEST Funds has finalized an investment in TransGaming Inc. (TSX-V:TNG) the global leader in multiplatform deployment of interactive entertainment. With cutting-edge technology, clear strategy, and a sound business model, TransGaming is a perfect example of BEST’s mandate to provide financing to innovative, high-growth Canadian companies.

This is BEST Funds’ first investment in TransGaming. BEST Funds’ has invested $3.5 million in financing to be used by TransGaming for R & D and sales and marketing initiatives. TransGaming issued promissory notes along with 1,750,000 common share purchase warrants.  

This investment comes on the heels of an exciting acquisition by TransGaming of Oberon Media’s Interactive TV (iTV) & Connected TV Division. Oberon Media is the world’s leading multi-platform casual games company, whose game solutions have been adopted by the world’s leading digital and media companies, such as Microsoft, AT&T, Yahoo!, Electronic Arts, Orange France and more. This acquisition brings TransGaming a recurring multi-million dollar annual revenue stream generated through new distribution agreements with numerous leading Smart TV manufacturers and an extensive network of cable, satellite, and iTV service providers. As a result, TransGaming has access to an estimated 50 million connected households worldwide.

“TransGaming’s strong performance to date, including key technological advancements coupled with its expanding network of important distribution partners, represented a clear and compelling opportunity for BEST to invest in a company that will define the future of interactive entertainment,” said Vikas Gupta, CEO & President of TransGaming. “BEST is a disciplined, savvy investor and we are pleased to add them to our roster of institutional investors as a key financial partner.”

John Richardson, CEO of BEST Funds, stated, “We at BEST Funds are anticipating a very strong and mutually beneficial partnership with TransGaming that fosters growth, symbiotic success, and mutual gains for both partners. As an strong example of Canada’s technological success, TransGaming Inc., fits within our mandate for investees and showcases all the criteria and the business model typical of BEST’s portfolio companies. We are very happy to welcome TransGaming into our Fund portfolio and look forward to the year ahead. BEST’s first investment of 2012 sets a very positive tone for anticipated growth in both businesses for the new year.”

For more information please visit www.bestfunds.ca – or – www.transgaming.com.

About TransGaming Inc.,

TransGaming Inc. (TSX-V: TNG) is the global leader in the multiplatform deployment of interactive entertainment. TransGaming works with the industry’s leading developers and publishers to enable and distribute games for Smart TV set-top boxes, Mac computers, and Linux/CE platforms. TransGaming is headquartered in Toronto, Canada. To learn more about TransGaming visit transgaming.com

TransGaming’s GameTree TV is the premier on-demand Smart TV gaming platform, offering an unparalleled user experience on the next generation of set-top boxes and connected consumer electronic (CE) devices. The GameTree TV Platform delivers an extensive catalog of video games that can quickly and easily be accessed on-demand. Through a flexible and seamless transaction system, subscribers can choose from a variety of pricing models billed directly through the cable provider. For more information about GameTree TV, visit gametreetv.com. 

About BEST Investment Counsel Limited

Founded in 1996, BEST Funds is a leading Canadian venture capital firm. BEST is the manager of venture capital funds as well as accredited investor funds and has successfully completed over 350 transactions to date, representing the entire spectrum of VC financing, from seed-and-start-up to later-stage financing. The firm’s principals bring a wealth of experience and professional designations including, CA, CFA, CBV, MBA, MSC, & LLB.

The firm’s investment focus is on emerging Canadian companies engaged in software, cloud computing, financial services, and clean tech business models which fundamentally change the way people live.  For further information, please contact:

Alan Chettiar

BEST Investment Counsel Limited

achettiar@bestfunds.ca

www.bestfunds.ca

 

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