Stockwatch

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

Balderson Subject: ESE Entertainment (TSXV: ESE) Word Document File: '\\swfile\EmailIn\20230215 141851 Attachment ESE NR - Clarifying NR re Fundamental and Loan Amendment (v2).docx' ESE Clarifies News Release Disseminated on February 15, 2023 Concerning Fundamental Research Coverage and Announces Loan Amendment VANCOUVER, British Columbia, February 15, 2023 -- ESE Entertainment Inc. ("ESE" or the "Company") wishes to clarify the disclosure made in its February 15, 2023 press release concerning Fundamental Research Corp. ("Fundamental") 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 also announces that it has amended the terms of an existing loan (the "Loan") in the principal amount of $500,000 (the "Amendment"). Pursuant to the terms of the Amendment, (i) the Loan was exchanged for a convertible debenture having a principal amount of $500,000 (the "Debenture"), and (ii) the lender was issued 1,144,578 common share purchase warrants (each, a "Warrant"). The Debenture will mature on August 5, 2023 (the "Maturity Date") and bears interest at a rate of 10% per annum. $475,000 of the principal amount of the Debenture may be converted at the election of the holder thereof into common shares of the Company (each, a "Common Share") at a conversion price of $0.415 per share at any time prior to the Maturity Date. Each Warrant will entitle the holder thereof to acquire one (1) Common Share at a price of $0.70 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. ESE Entertainment Inc. Konrad Wasiela Chief Executive Officer and Director +1 (437) 826-4012 About ESE Entertainment Inc. ESE is a global technology company focused on gaming and esports. 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 ecommerce channels, esports 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 esports technology and infrastructure. | www.esegaming.com CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that ESE anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements with respect to: the details of the services to be provided by Fundamental. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of ESE to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to ESE, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in the securities of ESE should be considered highly speculative. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE ESE Entertainment Inc. For further information about ESE, please contact: Daniel Mogil, Investor Relations investors@esegaming.com +1 (437) 826-4012