22:10:22 EDT Mon 27 Mar 2023
Enter Symbol
or Name

ESE Entertainment Inc
Symbol ESE
Shares Issued 72,545,504
Close 2023-01-03 C$ 0.35
Recent Sedar Documents

ESE closes $198,950 first tranche financing

2023-01-03 17:27 ET - News Release

Mr. Konrad Wasiela reports


ESE Entertainment Inc. has closed the first tranche of its previously announced non-brokered private placement financing of units of the company at a price of 40 cents per unit for gross proceeds of $198,950.

Pursuant to the first tranche closing, the company issued an aggregate of 497,375 units. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share at a price of 70 cents per warrant share for a period of 36 months from issuance.

In connection with the first tranche closing, the company paid certain finders cash finders' fees in aggregate of $9,972 and issued a total of 24,928 finder warrants to the finders. Each finder warrant is exercisable into one common share at the issue price for a period of 36 months from issuance.

The company intends to use the proceeds raised from the first tranche closing for instalment payments under an acquisition agreement and for business development and general corporate purposes. The first tranche closing was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions and therefore the securities issued through the first tranche closing to Canadian subscribers were not subject to a hold period in accordance with applicable Canadian securities laws.

About ESE Entertainment Inc.

ESE is a global technology company focused on gaming and e-sports. The company provides a range of services to leading video game developers, publishers and brands by providing technology, infrastructure and fan engagement services internationally. ESE also operates its own e-commerce channels, e-sports teams and gaming leagues. In addition to the company's organic growth opportunities, the company is considering selective acquisitions that align with its objective of becoming a dominant global player in e-sports technology and infrastructure.

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