Kuuhubb Announces Commercial Launch of Recolor By Numbers
TORONTO, Nov. 06, 2019 (GLOBE NEWSWIRE) — Kuuhubb Inc. (“Kuuhubb” or the “Company”) (TSXV: KUU), a mobile game development and publishing company focused on providing the female audience with creative interactive gaming experiences, is pleased to announce the successful commercial release of its in-house developed and produced mobile game, Recolor By Numbers.
After a successful 7-month soft launch period, during which several user experience and monetization refinements were made based on user data and feedback, Recolor By Numbers is now commercially available globally in the App Store for iOS devices. The app was created by Kuuhubb’s internal game development team in Helsinki, comprised of industry veterans originating from Digital Chocolate, Armada, and Rovio, and features the artwork of the Company’s most successful app, Recolor, which has over 50+ million downloads to date.Learn more about the Recolor By Numbers app: RecolorByNumbers in App StoreThe full commercial launch of Recolor By Numbers complements Kuuhubb’s existing female centric game portfolio, providing numerous marketing synergies. Kuuhubb recently started Recolor By Numbers marketing initiatives with an initial focus on cross-promotion within its large Recolor user base. Recolor By Numbers offers a fresh gamified approach to colouring, and has shown very positive initial results and responses from users familiar with the high quality Recolor brand. Key Performance Indicators (KPIs) are similar to, and in some cases better than, those of Recolor. The Company is encouraged by these preliminary results and expects to start paid user acquisition campaigns soon.Recolor By Numbers utilizes the development and platform experience gained from its flagship app Recolor, to bring a new number-colouring app to the Kuuhubb game portfolio. Recolor By Numbers differs from the traditional pixel-art based colour-by-numbers game segment by offering advanced, vibrant graphics, sophisticated design images and colour palettes featuring numerous colouring effects. In this game, the user progresses from a clean black and white template towards a finalized image by matching a colour to the designated numbered field on the template. With its vast image library, Recolor By Numbers offers a more immersive gaming experience that appeals to an older audience (18 to 40-year old women) than existing colour-by-numbers apps.“This game release is a significant milestone for Kuuhubb as it is our first commercially launched new product in over two years,” commented Jouni Keränen, CEO of Kuuhubb. “Recolor By Numbers is the last of our first-generation products and we expect a high return on investment as a result of the utilisation of the existing Recolor technology platform and content, in addition to market and user insights gained from our three years of building the Recolor community. Recolor has generated over USD 40 million in revenues so far and we anticipate that Recolor By Numbers will contribute to renewed revenue growth in the upcoming calendar year.”Mr. Keränen also added, “Our development team has created a fun and unique new game and I am very excited to see that success continue with our second-generation products, match-3 games, which will start coming to market in the following months.”Cautionary Note Concerning Forward-Looking Information
This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to future revenue and development, growth of the Company’s business and the closing of the Proposed Financing) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, risks related to the growth strategy of the Company, the possibility that results from the Company’s growth plans will not be consistent with the Company’s expectations, failure to execute the definitive documentation in respect of, or complete, the Proposed Financing, the need to satisfy conditions precedent with respect to the Proposed Financing, the possibility that the completion of the Proposed Financing may be delayed or that the terms of the Proposed Financing may change, the early stage of the Company’s development, competition from companies in a number of industries, the ability of the Company to manage expansion and integrate acquisitions into its business, future business development of the Company and the other risks disclosed under the heading “Risk Factors” in the Company’s annual information form dated November 7, 2018 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward- looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.Neither 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.For further information, please contact:Kuuhubb Inc.
Jouni Keränen – CEO
Office: +358 40 590 0919Bill Mitoulas
Office: +1 (416) 479-9547A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4655844-86c2-4321-a941-7fc6a874bad7