13:05:49 EDT Sat 01 Apr 2023
Enter Symbol
or Name

ESE Entertainment Inc
Symbol ESE
Shares Issued 72,939,129
Close 2023-01-27 C$ 0.415
Recent Sedar Documents

ESE Entertainment closes $852,186 tranche of placement

2023-01-27 18:00 ET - News Release

Mr. Konrad Wasiela reports


ESE Entertainment Inc. has closed the third and final 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 $852,186, bringing the aggregate gross proceeds of the offering to $2-million.

Pursuant to the final tranche closing, the company issued an aggregate of 2,130,465 units. Each unit is composed 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 final tranche closing, the company paid certain finders cash finders' fees in aggregate of $21,153 and issued a total of 52,882 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.

Konrad Wasiela, chief executive officer of ESE Entertainment, announced: "In connection with this successful investment round, we have completed all of the cash payments under last year's acquisition of GameAddik and are now in a strong position to focus on organic growth. Due to ongoing projects in our technology and data business that have accelerated, we are focused on expanding organic operations, paving the way for long-term success. As we enter this next phase of our journey, I'm confident that our team is more than ready and equipped to drive our business forward."

The company intends to use the proceeds raised from the final tranche closing for business development and general corporate purposes. The final 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 final tranche closing were not subject to a hold period in accordance with applicable Canadian securities laws.

About ESE Entertainment Inc.

ESE Entertainment 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 Entertainment 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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