Mr. Konrad Wasiela reports
ESE ENTERTAINMENT PRODUCES BROADCAST FOR THE LEAGUE OF LEGENDS CHAMPIONSHIP
ESE Entertainment Inc.'s media production unit, Frenzy, has produced a broadcast of the final season of the LEC (League of Legends EMEA Championship) tournament. This competition is in the video game League of Legends, which is developed by video game publisher Riot Games. Over the course of eight days of competition, the top six teams from the Europe, the Middle East and Africa regions competed for a prize pool totalling $160,000 (U.S.). The broadcast was available on Twitch and YouTube, as well as on Polsat Games TV. Additionally, it was showcased in several Multikino cinemas (Vue Entertainment), where viewers had the opportunity to watch the final showdown between teams G2 Esports and Fnatic. The broadcast of the final matches generated nearly one million views and 380,000 total watched hours.
The LEC represents the most significant League of Legends competition in the Europe, the Middle East and Africa regions, drawing significant attention each year. This year, 2023, was particularly notable due to changes in the competition format, now consisting of three splits (winter, spring and summer) and a final split. The broadcasts that ESE produced during all of the seasons garnered a total of nearly nine million views and over 3.7 million watched hours, demonstrating a strong interest in the game League of Legends and the high-quality production by ESE.
Konrad Wasiela, chief executive officer of ESE Entertainment, commented: "Our recent production for the LEC is a testament to our ability to capture and engage a substantial audience. The nearly one million views and 380,000 watched hours generated from the final matches alone are indicative of the robust interest and engagement we can foster. Our focus continues to be on becoming a recognized global leader in technology and entertainment, and a key component is driving strong viewer metrics. These not only reflect our capability in delivering compelling content but also create a solid foundation for attractive advertising and sponsorship opportunities that can add higher margins to our growth trajectory."
ESE Entertainment announces option grants
ESE also announces that is has granted a total of 1.7 million options to purchase common shares in the capital of the company to certain employees, consultants, officers and directors of the company under its equity incentive plan. The granted options are exercisable at a price of 15.5 cents per share and expire five years from the date of grant. All of the options vest on the date of grant.
Of the options granted, 850,000 options were granted to directors and officers of the company. The company relied on Section 5.5(b) of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions as the exemption from the formal valuation requirements of MI 61-101 and TSX Venture Exchange Policy 5.9 in respect of the options grant to the directors and officers of the company, as no securities of the company are listed on a specified market as defined in MI 61-101. The company relied on Section 5.7(1)(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 and TSX Venture Exchange Policy 5.9 in respect of the options grant to the directors and officers of the company, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the options granted to the directors and officers of the company exceeded 25 per cent of the company's market capitalization.
About ESE Entertainment Inc.
ESE is a global technology company focused on gaming. 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.
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