SPYR Acquires Ownership of Battlewack: Idle Lords Game and Intellectual Property

DENVER, July 18, 2017 /PRNewswire/ -- SPYR, INC. (OTCQB: SPYR), a holding company with a wholly owned subsidiary in the mobile game & app development and publishing industry, today announced that its wholly owned subsidiary, SPYR APPS, LLC, has acquired all assets related to the game Battlewack: Idle Lords. 

Battlewack: Idle Lords is a free-to-play battle game in which players hire a team of heroes to crush waves of their enemies. The game was developed by Kemojo Studios and is similar in concept to Kemojo's successful game, Tap Cats: Idle Warfare, though Battlewack has a completely different design concept targeting more of a mid-core audience and allowing for grouped multi-player game play.

Battlewack falls into the "idle tapper genre," which is very popular and perfect for mobile devices as it allows the game to progress while the player is away. The heroes will continue to battle in "offline mode," earning experience points and gold. The player can then log back into the game at any time to spend those earnings on upgrading the heroes allowing them to defeat stronger enemies. Like the game play in Tap Cats, heroes can be collected, upgraded and evolved. Players can purchase "rare" heroes to speed up their progression and defeat more complex challenges.

In September of 2016, SPYR announced that it had entered into a publishing agreement for Battlewack pursuant to which SPYR would publish the game and share in the revenue it generated. As a result of this new agreement, SPYR will now receive all of the revenue generated by the game, own all of the Battlewack specific intellectual property, and has a perpetual, worldwide, royalty free license to use and modify any and all Battlewack assets for its own purposes, as it may deem appropriate, in its sole and absolute discretion.

James R. Thompson, SPYR's CEO and President states, "The acquisition of the Battlewack assets gives us a solid framework and established systems on which we can further develop this and other titles. We plan on bringing Battlewack to market later this year. As we continue to execute on our strategy of building a diversified game portfolio, as an "idle tapper" game, Battlewack will add a new game genre to our portfolio."

About SPYR

SPYR, INC. is a holding company that through its wholly owned subsidiary SPYR APPS, LLC, is engaged in mobile application and game publishing and development. The Company is currently exploring opportunities for additional acquisitions in these and other verticals, including mobile application and game development, in order to expand its holdings, to drive and increase revenue and to generate profits and build value for shareholders.

Safe Harbor Statement:

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at https://www.sec.gov, as well as SPYR's website located at https://www.spyr.com, and SPYR's community channel on Twitter located at https://twitter.com/spyrinc.

Investor Relations Contact:

Marlin Molinaro

Marmel Communications, LLC

(828) 669-0616



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Released July 18, 2017