09:22:08 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



ESE Entertainment Inc
Symbol ESE
Shares Issued 78,958,256
Close 2023-02-15 C$ 0.395
Market Cap C$ 31,188,511
Recent Sedar Documents

ESE hires Fundamental for three reports, amends loan

2023-02-15 17:51 ET - News Release

Mr. Konrad Wasiela reports

ESE CLARIFIES NEWS RELEASE DISSEMINATED ON FEBRUARY 15, 2023 CONCERNING FUNDAMENTAL RESEARCH COVERAGE AND ANNOUNCES LOAN AMENDMENT

ESE Entertainment Inc. wishes to clarify the disclosure made in its Feb. 15, 2023, news release concerning Fundamental Research Corp. initiating coverage of the company. The company would like to clarify that it has engaged Fundamental to prepare and publish three research reports on the company in exchange for total cash consideration of $30,000. The company and Fundamental act at arm's length, and, to the knowledge of the company, Fundamental has no interest, direct or indirect, in the company or its securities, or any right to acquire such an interest.

ESE has amended the terms of an existing loan in the principal amount of $500,000. Pursuant to the terms of the amendment: (i) the loan was exchanged for a convertible debenture having a principal amount of $500,000; and (ii) the lender was issued 1,144,578 common share purchase warrants. The debenture will mature on Aug. 5, 2023, and bears interest at a rate of 10 per cent per annum. The holder may covert, at the election of the holder thereof, $475,000 of the principal amount of the debenture into common shares of the company at a conversion price of 41.5 cents per share at any time prior to the maturity date. Each warrant will entitle the holder thereof to acquire one common share at a price of 70 cents per common share for a period of 24 months from the date of the amendment. The company did not receive any additional proceeds as a result of the amendment.

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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.