PCF Group Current Report No. 24/2023: Letter of Intent Signed for New Game Project

PCF Group S.A. has entered into a non-binding letter of intent with a prominent United States-based entertainment entity to develop a new virtual reality title under the code name Project Dolphin. This collaboration marks a strategic expansion into the VR action and combat genre, with the project slated for release on both current and future major virtual reality hardware platforms. The agreement outlines a work-for-hire development model, where the studio will execute the project on behalf of the publisher in exchange for fixed remuneration rather than retaining intellectual property rights.

The financial scope of the production is significant for the VR segment, with an estimated development budget ranging between 16 million and 24 million USD. Under the proposed terms, the publisher will retain full ownership of the intellectual property and all associated rights resulting from the development process. This partnership aligns with the studio’s broader strategy of diversifying its project portfolio while leveraging external funding for high-fidelity production.

The development timeline aims for completion by the end of 2025. While the letter of intent establishes the framework for the partnership and triggers formal negotiations for a definitive development agreement, it remains non-binding at this stage. The finalization of the contract is subject to successful negotiations, and the studio maintains a neutral outlook regarding the certainty of the final execution. This disclosure, issued in mid-2023, reflects the company's ongoing efforts to secure large-scale production contracts within the global gaming market.