Social Play USA announced that the company has entered into an agreement with CMGT, Inc. to receive $500,000 in financing to bolster the company's financial position as they move forward with SocialPlay's strategy to capitalize on the growing cloud based gaming industry. The company has established funding to enable the efficient execution of potential opportunities that can contribute substantially to the outlook and future revenues of the company, while diligently advancing on the development of a revolutionary cloud-based game hosting and management system. SocialPlay has entered into a promissory note granting the company up to $500,000.

The note represents a consolidation of previous financings with new financing, bringing the sum under new terms.