Mysquar Regulatory News (MYSQ)

MySQUAR Limited ("MySQUAR" or the "Company")

MySQUAR's update regarding user growth and monetisation of MyFish game

MySQUAR, the Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications, is delighted to announce that MyFish, the mobile game launched on 2 August 2016, has gone viral, attracting in excess of 1.5 million registered users in its first five weeks since release.

Average daily revenue in the month of August was US$800 per day, rising to a daily average of US$1,120 per day in the first 7 days of September and - three weeks earlier than forecast - to in excess of US$1,500 per day in the first few days of the 2nd week of September.

MyFish's revenue in September and thereafter is expected to grow steadily as a number of additional features - which encourage gamers to pay to use them - are to be released during the next few weeks. 

A new mobile game, Hawk Hero (Invincible Swords), has been launched today (12 September 2016). The game works on both Android and IOS devices and, like MyFish, is a freemium game, whereby the game is free at entry level and players are encouraged to enhance their chances with top-up payments for various features. The Company is able to drive users from one game or app to another, so Hawk Hero will benefit from the existing user base of other games and MyChat, the chat and social networking application of MySQUAR. 

The Company expects significant growth in revenue from the gaming business in the coming months due to the growing revenue of MyFish plus revenue from the new game Hawk Hero.

Eric Schaer, CEO of MySQUAR, said: "In less than 45 days the game has achieved tremendous results. Myanmar is absolutely primed for the introduction of new games and has demonstrated that there is a huge appetite for such content."

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