“It seems that the source of Nintendo Magazine is an interview with Jason misinterpreted by half the web. In short, nothing very serious, and yet, unfortunately, nothing guarantees that there will be a Red Steel 3.” – Ubisoft statement

The only thing I am going to say about this is High Voltage claimed a miss communication when an site announced Conduit 2 being playable at E3. Guess what, Conduit 2 is playable at E3.

Link