TransGaming Reports Third Quarter Fiscal 2015 Results

TORONTO, ONTARIO--(Marketwired - April 29, 2015) - TransGaming Inc. (TSX VENTURE:TNG) ("TransGaming" or the "Company") today reported its third quarter fiscal 2015 results. The Company's unaudited interim consolidated financial statements for the three and nine months ending February 28, 2015 and Management's Discussion and Analysis have been filed and are available on SEDAR at www.sedar.com.

Highlights

Third quarter fiscal 2015 revenue was $0.8 million and $3.2 million for the nine months ending February 28, 2015. Net income for the quarter was $0.4 million, which includes the impact of favourable foreign exchange gains, while the adjusted EBITDA loss was $0.7 million. The following highlights during and subsequent to the third quarter of 2015 should be noted:

• Announced the monetization of GameTree TV across its Smart TV's globally in partnership with leading digital payments platform Paymentwall

• Subsequent to quarter-end, announced a strategic agreement with NVIDIA to enable high-end games for the just-revealed NVIDIA SHIELD Android TV console

• Announced an agreement with Liberty Global to bring GameTree TV content to Liberty Global's next generation Horizon set-top-boxes

• Subsequent to the quarter-end, announced the debut of "Final Fantasy XIV: A Realm Reborn" on the Mac through a partnership with Square Enix

• Announced a partnership with LG in conjunction with the Smart TV alliance, continuing the expansion of GameTree TV across the Smart TV market

• Announced the availability of GameTree TV to pay-TV operators worldwide in partnership with CloudTV software platform ActiveVideo

• Subsequent to quarter-end, announced the availability of DirectX 11 support for cross-platform game enablement on target platforms including Max OS X, SteamOS, Android, and iOS

Commenting on the results, Dennis Ensing, Chief Operating Officer & Interim CEO of TransGaming stated:

"As promised, 2015 has brought a new monetization of our global cloud gaming footprint with a focus on building subscriptions as a sustainable growing and recurring revenue stream with new MSO partnerships and across our service through Smart TVs.

We remain committed to attain profitability more quickly with a plan that has already been implemented to reduce annual operating expenses by more than $750,000. Finally we have also identified technology assets that are not central to our priorities and are considering alternative strategic transactions to unlock the value of our investments in these assets to further enhance shareholder value. This has been a very rewarding and productive quarter and I am even more pleased and excited to lead our team as we execute on our plans."

Conference Call Details

TransGaming will host an analyst and investor conference call at 10:00 a.m. EST on Thursday April 30, 2015 to review the third quarter fiscal 2015 results. The telephone number for the conference call is +1 (416) 340-2216. The call will be recorded and a digital replay will be available on the Company's Investor Relations portion of its website at: http://transgaming.com/investors.

About TransGaming Inc.,

TransGaming Inc. (TSX VENTURE:TNG) provides global brands and audiences with the freedom to play. The company licenses and develops its proprietary cross-platform portability technology to enable and publish PC, mobile & console titles with world leading games franchises and development partners for Mac OSX®, Steam OS™, Linux™, Android®, and Smart TV markets with ease and efficiency. GameTree™ TV, TransGaming's subscription- based on-demand cloud gaming service, is accessible to the largest connected TV distribution footprint in the world - now available to play on over 100 million Smart TV's. Headquartered in Toronto, with offices in Tel Aviv and Kiev, TransGaming is a public company listed on Canadian TSX Venture Exchange. Discover more: www.transgaming.com.

FORWARD-LOOKING STATEMENTS

Certain statements in this document may constitute "forward-looking" statements, which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use words like "may", "will", "expect", "continue", "believe", "plan", "intend", "would", "could", "should", "anticipate" and other similar terminology. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date of this document. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the "Risk Factors" section of the Company's the most recently filed Annual Information Form which is available on SEDAR at www.sedar.com.

Although the forward-looking statements contained in this document are based upon what we believe are reasonable assumptions, we cannot assure investors that our actual results will be consistent with these forward-looking statements. We assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law.

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.