Ese Entmt - ENTEF STOCK NEWS

ESE Entertainment provided an operational update on its subsidiary Bombee Americas, highlighting significant achievements and financial growth. The company reported over $6 million in revenue in the past 12 months (unaudited) with positive gross margins. Notable projects include the CDL Major III 2024 in Toronto, which attracted over 10,000 live fans and 1,000,000 online viewers, and the ALGS Y4 Split 1 Playoffs in LA with 40 teams competing for a $2 million prize pool. Bombee Americas has partnered with major industry players including Activision Blizzard, RedBull, and Electronic Arts, providing comprehensive production services for gaming and esports events.

ESE Entertainment (TSXV: ESE, OTCQBSS: ENTEF) announces the acquisition of Bombee Americas, the North American division of Bombee Event Production AB. The acquisition strengthens ESE's position in gaming and entertainment sectors with Bombee's expertise in live productions and established relationships with Tier 1 clients including Activision Blizzard, RedBull, and Electronic Arts. The merger brings a robust project pipeline extending into 2025-2026, enhanced technology capabilities in AI, AR, and special effects, and expanded production capacity for large-scale events. Bombee's portfolio includes high-profile events like the Overwatch League Grand Finals 2023 and ALGS Split 1 Playoffs.

ESE Entertainment Inc. (TSXV: ESE) (OTCQB: ENTEF) has acquired Bombee Global Entertainment (Bombee Americas), the North American arm of Bombee Event Production AB. Bombee specializes in live production, special effects, broadcast, and event management for the gaming sector. The acquisition terms include:

1. $750,000 in cash paid on closing
2. $375,000 in cash to be paid after six months
3. $375,000 in cash to be paid after twelve months
4. 30,000,000 common shares of ESE at $0.10 per share

Bombee Americas' founders have signed three-year service agreements to ensure a smooth transition. The acquisition is subject to final approval from the TSX Venture Exchange.

ESE Entertainment Inc. (TSXV: ESE) (OTCQB: ENTEF), a gaming company providing services to leading video game developers and publishers, has appointed Ryan Maarschalk B.Sc, CPA, as a new Director. This announcement, made on September 13, 2024, marks a significant change in the company's leadership structure. While the press release does not provide detailed information about Maarschalk's background or the specific reasons for his appointment, the addition of a CPA to the board suggests a potential focus on financial oversight and strategic planning. This development could have implications for ESE's future direction and governance.

ESE Entertainment Inc. (TSXV:ESE)(OTCQX:ENTEF) has provided a corporate update highlighting strategic developments and future objectives. The company has received a non-dilutive cash injection following the sale of its remaining minority interest asset, valued at a $13 million enterprise value. This transaction has recapitalized ESE's treasury without diluting shareholders and reduced associated operational costs.

Key focus areas include:

• Becoming a global leader in gaming production, AI, AR, and VR technologies
• Pursuing profitable growth through strategic M&A in the gaming and entertainment sector
• Enhancing operational excellence and cost-effectiveness
• Creating shareholder value through disciplined financial management

CEO Konrad Wasiela emphasized that this cash injection positions ESE for future growth and solidifies its market presence in the gaming industry.

ESE Entertainment Inc. (TSXV:ESE)(OTCQX:ENTEF) has announced the sale of its remaining 30% interest in GameAddik to BPV Games Partnership for $4,030,925 in cash. This follows the previous sale of 70% interest in August 2023. The transaction, subject to regulatory approvals and shareholder consent, is expected to improve ESE's cash position without shareholder dilution.

The deal includes an additional payment of $548,159 on August 14, 2024, representing the second tranche of a holdback from the initial disposition. ESE plans to use the proceeds to settle liabilities, invest in core business operations, and explore strategic opportunities. The company's management, holding about 24% of outstanding shares, has unanimously approved the transaction.

ESE Entertainment (TSXV:ESE, OTCQX:ENTEF) has expanded its partnership with Bombee Global Entertainment for the Crescent Street Grand Prix Festival, occurring during the Montreal Formula 1 Grand Prix from June 6-9, 2024.

This historic festival will include live music, food and beverages, interactive exhibits, and special guest appearances. ESE supports Bombee with infrastructure, financing, and relationships, while Bombee handles event production.

ESE's CEO, Konrad Wasiela, emphasized the partnership's role in enhancing their capabilities and engaging with fans and stakeholders. Bombee's Director, Tamir Kastiel, highlighted the collaboration's goal of creating an immersive and memorable experience.

The festival aims to elevate the Grand Prix week, making it a must-attend event for motorsport enthusiasts.

ESE Entertainment, a gaming services company, announced it will produce and distribute the 2024 Mid-Season Invitational (MSI) for League of Legends, developed by Riot Games. The tournament will feature top League of Legends teams globally, competing in various stages, including play-ins, playoffs, and a grand finale. ESE will manage all aspects of the event, from selecting expert casters to creating the audiovisual setup, aiming to enhance viewer engagement using advanced broadcasting techniques. This collaboration marks a significant milestone for ESE, setting new standards for event production and fan engagement.

ESE Entertainment Inc. is producing the Teamfight Tactics esports tournament for Riot Games in June 2024. The popular auto-battler game has a large following, especially among mobile users. The tournament's success is attracting significant sponsorship and partnership interest from major brands. ESE's media production unit, Frenzy, will provide expert commentary, visuals, and marketing efforts for the event. CEO Konrad Wasiela expressed excitement about working with Riot Games and delivering top-tier production for the tournament.