Snail, Inc. Announces $5 Million Share Repurchase Program

CULVER CITY, Calif., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Snail, Inc. (NASDAQ: SNAL) (“Snail”) announced that its Board of Directors has today authorized a share repurchase program under which Snail may repurchase up to $5 million in outstanding shares of its Class A common stock, subject to ongoing compliance with Nasdaq listing rules.

The repurchase program will go into effect when Snail begins the share repurchase, and the program does not have a fixed expiration date. The share repurchases may be made from time to time through open market transactions, block trades, privately negotiated transactions or otherwise and are subject to market and business conditions, levels of available liquidity, cash requirements for other purposes, regulatory, and other relevant factors.

About Snail, Inc.

Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.

Investor Relations Contact

investors@snail.com

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements that include, without limitation, references to Snail’s expectations regarding the timing and manner of repurchases made under its share repurchase program. These statements are subject to certain risks, uncertainties and assumptions that are difficult to predict, including those that are described more fully in the section captioned “Risk Factors” in the Registration Statement for the offering to which this press release relates that has been filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snail undertakes no duty to update such information except as required under applicable law.