Microsoft, PCF Group enter into development agreement for new AAA game

PCF Group announced that it has entered into a Development and Publishing Agreement with Microsoft regarding the development and delivery by the company to the publisher of the video game from the AAA segment under the code name Project Maverick, pursuant to the Product Appendix to the Agreement indicating the agreed timetable, including the milestones. The development of the game by PCF will be performed under the work for hire model, based on the intellectual property rights owned by the publisher and will be entirely financed by Microsoft when advancing by the company of the development works under the milestones. Total production budget for the game is $30M-$50M.