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XMG Studio Receives OMDC Funding for New Game Project

Toronto, Ontario – February 18th, 2011 – The Ontario Media Development Corporation (OMDC) has awarded XMG Studio financial resources to assist in the development of its upcoming adventure game “Powder Monkeys” a pirate-themed game. Slated for release later this year, “Powder Monkeys” (working title) will be one of 19 projects supported by the OMDC Interactive Digital Media (IDM) Fund in 2011.

“Funding from programs like the IDM Fund allows us to expand our team and move forward on game projects that would otherwise have to wait,” said Ray Sharma, Founder and CEO of XMG Studio. “The world of mobile games is fast-paced and competitive, so we definitely get an edge by being able to fast-track projects.”

Karen Thorn-Stone, President & CEO of OMDC, explains their decision to assist Ontario’s continued growth in the world’s fast paced digital media industry: “As our industry grows in internal strength and recognition and expands in to new platforms and markets, support for interactive digital media companies in Ontario helps to ensure that they remain competitive on the global stage.”

“Powder Monkeys” is slated for release later this year and will be developed out of XMG’s Toronto-based studio.

About OMDC IDM Fund

The Ontario Media Development Corporation (ODMC) is an agency of the Ontario Ministry of Tourism and Culture that facilitates economic development opportunities for Ontario’s cultural media industries including book and magazine publishing, film and television, music and interactive digital media industries. The OMDC IDM Fund supports Ontario companies creating original proprietary interactive digital media content. OMDC’s IDM Fund recipients have been recognized for their creativity and innovation in a variety of platforms.

About XMG Studio Inc

XMG Studio is an award-winning developer of hit games for mobile devices. XMG puts special focus on creating games with unique user interfaces and which allow players to deeply engage with their games through user-generated and user-customized content. XMG’s games have been nominated for numerous awards and have won such honors with Best App Ever awards in several categories in both 2009 and 2010. Recent titles include Cows vs Aliens, Drag Racer: Pro Tuner, Style Studio: Fashion Designer, Cannon Cadets, Little Metal Ball, Marine sharpshooter, and Pandemica.