Atari Announces Planned Creation of New Token and Termination of Joint VentureSource: OMX
Atari Announces Planned Creation of New Token and Termination of Joint Venture
Paris, 18 April 2022 – Atari SA and its subsidiaries (“Atari”), one of the world's most iconic consumer brands and interactive entertainment producers, announces the termination of all license agreements with ICICB Group and its subsidiaries (“ICICB”). The license agreements between Atari and ICICB, including the Atari Chain Limited license (the “Joint Venture”) and the related licenses including hotel and casino licenses, have been terminated effective 18 April 2022. ICICB is not authorized to represent Atari or its brands in any manner.
Atari disclaims any interest in the Joint Venture and informs the public that the Joint Venture, currently promoted “Atari Tokens”, and related websites (i.e. www.atarichain.com, www.ataritoken.com), whitepapers, and social media channels are unlicensed, unsanctioned, and are outside the control of Atari and should not be relied upon for guidance or information related to the ATRI token or Atari.
Despite the termination of the Joint Venture, Atari remains enthusiastic about the potential for blockchain initiatives and continues to establish and pursue strategic ventures and partnerships in the space. As such, Atari will create, distribute, and solely manage a new proprietary token with a focus on gaming, community, and utility. A snapshot of ATRI token holdings was taken at exactly 18 April 2022 at 6:00PM CET (GMT +1) and Atari will implement a future exchange of the new token for the ATRI tokens held as of that time. To participate, ATRI token holders will be required to present their ATRI tokens at the time of the exchange. Only tokens present in wallets as of the snapshot and in amounts equivalent to those captured at the snapshot will be eligible. Any tokens acquired after the snapshot will not be eligible. Atari will direct holders to additional information channels as additional information and timelines are announced. Please see www.atari.com/blockchain for more information.
As communicated on 21 February 2022, the termination of the hotel and casino license agreements with ICICB will result in a write-off in Atari’s accounting records for a financial impact estimated to be up to €11 million in accordance with applicable accounting principles. The financial impact of the exchange and the creation of a new token will be disclosed in the Atari FY22 annual report.
Atari, comprised of Atari SA and its subsidiaries, is a global interactive entertainment and multiplatform licensing group. The true innovator of the video game, founded in 1972, Atari owns and/or manages a portfolio of more than 200 games and franchises, including globally known brands such as Asteroids®, Centipede®, Missile Command® and Pong®. From this important portfolio of intellectual properties, Atari delivers attractive online games for smartphones, tablets, and other connected devices. Atari also develops and distributes interactive entertainment for Microsoft, Sony and Nintendo game consoles. Atari also leverages its brand and franchises with licensing agreements through other media, derivative products and publishing. For more information: www.atari.com and www.atari-investisseurs.fr/en/. Atari shares are listed in France on Euronext Paris (Compartment C, ISIN Code FR0010478248, Ticker ATA) and are eligible for the Nasdaq International program in the United States (OTC - Ticker PONGF).
Atari – Investor Relations Calyptus - Marie Calleux