Iplayco Announces New Sales Agreement of U.S. 544,500 and Revision of an Existing Sales Agreement from U.S. 1,358,000 to U.S. 850,000
LANGLEY, BRITISH COLUMBIA, Apr 23, 2012 (Menafn - Marketwire via COMTEX) --Iplayco Corporation Limited ("Iplayco" or the "Corporation") announces that it has entered into a new sales agreement of U.S. 544,500 to design, manufacture and install a large indoor play structure for a corporate customer. In an unrelated event, Iplayco also announces that a sales agreement previously announced on September 6, 2011 for U.S. 1,358,000 has been revised to U.S. 850,000.
"We are pleased to announce that we have entered into a new sales agreement of U.S. 544,500 which is adding to our very robust sales backlog. This new sales agreement is expected to favorably impact the operating results of our current fiscal year ending September 30, 2012. In an unrelated event, we have agreed to revised contractual terms with a corporate customer on a sales agreement that was previously announced on September 6, 2011 for U.S. 1,358,000. The revised sales agreement is for U.S. 850,000 and is expected to favorably impact the operating results of our current fiscal year. As we were about to start production of the play structure under the original contract, the customer informed us that a smaller play structure was required. We have agreed to these revised terms on the basis that we expect to conclude two other sales agreements with this customer before the end of our current fiscal year," said Scott Forbes, President and Director of Iplayco.
ON BEHALF OF THE BOARD OF DIRECTORS
Scott C. Forbes, President and Director
About Iplayco Corporation Limited
Iplayco designs, manufactures and installs customized indoor and outdoor play structures for children. Iplayco also owns and operates a family entertainment centre ("The Great Escape") in Langley, British Columbia. For more information, please visit www.iplaycoltd.com.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Corporation's business, results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed elsewhere in documents that are available to the public.
SOURCE: Iplayco Corporation Ltd.
Iplayco Corporation Ltd.
Chief Financial Officer and Corporate Secretary
Copyright (C) 2012 Marketwire. All rights reserved.