Jul 5, 2016

08:00 ET from Soul and Vibe Interactive Inc. MINNEAPOLIS, July 5, 2016 /PRNewswire/ --  Soul and Vibe Interactive Inc. (OTC: SOUL), "The Company," a publisher of games, music, and interactive books for digital devices, announced today it has acquired proprietary intellectual property ("IP" and "The Property") from Croog Studios , a New York-based design studio. The Company completed the IP acquisition through a combination of cash and common class Company stock. Croog Studios has been retained by the Company to develop a video game based on the not-yet-revealed Property through a Development-Publishing Agreement. Soul and Vibe Publishing will release the Croog Studios developed game on iOS (iPhone, iPad, iPod Touch, and Apple TV), Android (via Google Play and Samsung TV), and Amazon (for Kindle Fire devices, including Fire TV. ) "Acquisition is a key mechanism through which we look to further expand our publishing operation and subsequently drive revenue," said Soul and Vibe's CEO and President, Peter Anthony ("Tony") Chiodo. "Acquisition and direct IP ownership will enable the Company to develop a recurring release calendar and subsequently grow shareholder value. We are excited about our relationship with Croog Studios; we look forward to sharing details about our forthcoming game shortly. " About Soul and Vibe Interactive Inc. Soul and Vibe Interactive Inc. (Soul & Vibe Interactive Inc. on www.sec.gov ) is a publisher of games, music, and interactive books for digital devices addressing a market projected to grow to $100 billion by year-end 2018. The Company specializes in the creation of original IP and has extensive experience licensing world-renowned brands from influential companies. Soul and Vibe has a license agreement with Deere & Company , and game development and publishing agreements for the Xbox 360® video game and entertainment system, Windows 8, Windows Live, and Windows Phone from Microsoft , the PlayStation® 3 computer entertainment system and PlayStation® Vita (PS Vita) from Sony , and the Nintendo 3DS™ system and the Wii U™ system from Nintendo . Through partnerships with technically sophisticated software developers located all over the world, Soul and Vibe transforms unique concepts into engaging, highly accessible, and affordable games and entertainment experiences. www.soulandvibe.com .