File: '\\swfile\EmailIn\20240301 130452 Attachment NR - MCTO announcement.docx'

1391-1057-9465, v. 3

ESE ENTERTAINMENT ANNOUNCES MANAGEMENT CEASE TRADE ORDER

VANCOUVER, British Columbia, March 1, 2024 - ESE Entertainment Inc. (TSXV: ESE) (OTCQX: ENTEF) ("ESE") or the "Company") announces that the British Columbia Securities Commission has granted the Company a temporary management case trade order ("MCTO") under National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"), which prohibits trading securities of the Company by certain individuals until such time as the Required Filings (defined below) and all continuous disclosure requirements have been filed by the Company and the MCTO has been lifted.

The Company was unable to file its audited financial statements for the year ended October 31, 2023, and the related management's discussion and analysis and Chief Executive Officer and Chief Financial Officer certificates for this period (collectively, the "Required Filings") before the February 28, 2024 filing deadline (the "Filing Deadline").

The Company's failure to file its Required Filings by the Filing Deadline is due to delays obtaining the financial information of the Company's Polish subsidiary, Frenzy, and delays in the Company's auditors receiving the necessary financial information and documentation related to the same. The Company's auditors and management are working closely with the Frenzy team to obtain the required information and supporting documentation to complete the audit as soon as possible. The Company anticipates that it will be in a position to file the Required Filings on or about March 31, 2024. The MCTO will be in effect until the Required Filings are filed.

While the MCTO is effective, all management, officers and directors of the Company will be prohibited from trading in the Company's securities, but the general public, who are not insiders of the Company, will continue to be able to trade in the Company's listed securities.

The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed. The Company will provide updates as further information relating to the Required Filings becomes available. The Company intends to satisfy the provision of the alternative information guidelines set out in sections 9 and 10 of NP 12-203 as long as the Required Filings are outstanding.

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. 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. | 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 Company's compliance with the alternative information guidelines set out in sections 9 and 10 of NP 12-203, and the completion of the Required Filings and the timing thereof. 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:

investors@esegaming.com