Issue of shares of the Illusion Ray gaming studio starts

The gaming studio Illusion Ray SA started a public issue of shares worth 718 thousand zlotys on June 14. PLN, on the Navigator Crowd platform. The issue is intended for the implementation of two purposes. The first is the release of the game "The Beast Inside" for both old and new generation consoles. The title was created by the company's president, Łukasz Smaga, together with the current Illusion Ray team in 2019, becoming a publishing hit and winning a number of industry awards, including The Webby Awards called "Internet Oscar". The second goal is the production of a new action RPG game - Wardogz, which premiere is scheduled for the end of 2023. In mid-2023, Illusion Ray plans to debut on the NewConnect market.

The beginnings of the Illusion Ray studio date back to 2009, when Łukasz Smaga focused on creating short films as well as 3D and VR animations, among others. in cooperation with Platige Image. Formally, the Illusion Ray SA studio was established in 2020 as an independent gamedev studio aimed at continuing, in the form of a joint-stock company, the work carried out by Łukasz. He has been directly related to the gamedev market since 2016, while in 2019 his first game, "The Beast Inside", from the thriller and survival horror genres, debuted. At that time, the Unreal Engine 4 technology was used for production, which, combined with the photogrammetry technique, provided high-quality photorealistic graphics. As a result, it brought the studio awards in the form of Pixel Award and The Webby Awards in the category of the best visual effects and a nomination in the category of the best adventure game. Łukasz Smaga, the founder and president of Illusion Ray SA, thus became the first creator from Poland to receive the "Internet Oscar", as The Webby Awards are called.

- Illusion Ray is currently at its best. We started cooperation with Bellwether Rocks, which opens up the possibility of a wider distribution of our hit and full focus on the development process of new projects based on our own IP, which will allow us to build the entire universe around the game. I put a lot of hope in our new projects. I believe that together with our team and Bellwether Rocks knowledge and experience, we will build a European-class development studio, creating noticeable AA + games that will interest global publishers - says Łukasz Smaga, President of Illusion Ray SA.

In mid-2023, Illusion Ray SA plans to debut on the NewConnect market. At the same time, guaranteeing new shareholders the certainty of remaining in the investment of key shareholders and their faith in the entire project, Łukasz Smaga and Bellwether Rocks concluded lock-up agreements for 95% of all shares held, for the period from the conclusion of the lock-up agreement to the expiry of 12 months from the date of debut.

In the opinion of the Management Board, the debut on the stock exchange is a step that will positively influence the perception of Illusion Ray by potential partners and will enable it to compete with large entities.

Source