ESE and Ekstraklasa to Organize EA SPORTS FIFA Tournament

Rhea-AI Summary

ESE Entertainment Inc. (TSXV: ESE, OTCQB: ENTEF) announced a Letter of Intent (LOI) with Ekstraklasa S.A. for the production of the EA SPORTS FIFA tournament, Ekstraklasa Games, for the 2022 and 2023 seasons. The tournament features professional and amateur esports players, streamed on Polsat Games TV. Frenzy, a subsidiary of ESE, will organize three live events and produce nine magazine episodes. ESE shareholders also approved key resolutions at the AGM, including the appointment of new directors and an auditor. This partnership enhances ESE's portfolio and strengthens its brand in esports.

Positive

• Executed a Letter of Intent with Ekstraklasa S.A. for Ekstraklasa Games, increasing brand visibility.
• Three live studio events and nine magazine episodes planned for 2022-2023, boosting engagement.
• Partnership with a tier-1 organization enhances Frenzy's portfolio and reputation.

Negative

• None.

VANCOUVER, British Columbia, Nov. 22, 2021 (GLOBE NEWSWIRE) -- ESE Entertainment Inc. (“ESE” or the “Company”) (TSXV: ESE) (OTCQB: ENTEF) is pleased to announce that its media company, Frenzy sp. z.o.o. ("Frenzy"), has executed a Letter of Intent (the “LOI”) with Ekstraklasa S.A. for the production of the EA SPORTS FIFA tournament, Ekstraklasa Games, for the 2022 and 2023 seasons.

The Ekstraklasa Games is a tournament in EA SPORTS FIFA, a video game developed by Electronic Arts Inc. (NASDAQ: EA), dedicated to both professional esports players associated with Ekstraklasa soccer clubs, as well as amateurs. The competition is therefore divided into two tiers: Pro and Open. The best players from both tiers will play in the grand finals and will have a chance to qualify for this season’s EA SPORTS Global Series Playoff.

For the two upcoming seasons, the Ekstraklasa Games will be broadcast live on the Polsat Games TV channel and internet. Under the terms of the LOI, three live studio events will be organized by Frenzy in each of the two contract years. Additionally, Frenzy will produce nine episodes of the Ekstraklasa Games Magazine that will highlight the main stage of competition. The second season - covering 2022/2023 - will take place under the assumption of Ekstraklasa S.A. signing a contract with the publisher of the game EA Sports.

The schedule of the Ekstraklasa Games Season IV is as follows:

• November 30^th - December 29^th, 2021: elimination stage (no broadcasts)
• January 4^th - March 2^nd, 2022: main stage (nine magazines)
• March 12^th - 27^th, 2022: play-offs (two live broadcasts)
• April 9^th - 10^th, 2022: grand finals (one live broadcast)

Marcin Kilar, Managing Director at Frenzy stated, “There is no EA SPORTS FIFA competition in Poland that is more important and interesting than the Ekstraklasa Games. I am very proud that Ekstraklasa S.A. has decided to trust Frenzy to bring such a valuable and unique event back in Polsat Games’ schedule. We are no strangers to virtual football and will produce broadcasts of quality that has never been seen before in the local markets.”

Marcin Mikucki, Communications, Marketing and Sales Director at Ekstraklasa S.A. commented: “Ekstraklasa Games makes its return to the Polsat Games schedule, and this guarantees production and broadcast on the highest level. Year by year the project is consistently growing, gaining more fans, participants, and partners. We are happy that together with Frenzy we can continue building the FIFA esports scene in Poland, while also engaging all Ekstraklasa clubs.”

Jędrzej Stęszewski, Director of Operations at ESE said: “We are honored that Ekstraklasa S.A. acknowledges highest production standards of Frenzy and has decided to renew cooperation. This multi-year contract with a tier-1 partner would not only enrich Frenzy’s portfolio but strengthens its brand internationally too.”

Results of ESE’s AGM

ESE also announces the results from its Annual General and Special Meeting of Shareholders held on Wednesday, November 17, 2021 (the “AGM”) in Vancouver, BC. Shareholders holding a total of 14,471,080 common shares were represented in person or by proxy at the AGM, representing 24.38% of the votes attached to all outstanding common shares of the Company as at the record date. Shareholders voted in favour of all the matters submitted before the AGM as set out in the Notice of Meeting and Information Circular dated October 13, 2021, including: (a) setting the size of the Board to five directors and electing the following as directors until the next annual shareholder meeting of the Company: Konrad Wasiela, Rob Kang, Raj Dewan, Ron Segev, and Rick Brace; (b) appointing Crowe MacKay, Chartered Professional Accountants, as the Company's auditor for the ensuing year; and (c) an ordinary resolution of disinterested shareholders approving a new Equity Incentive Plan.

About Frenzy
Frenzy, a subsidiary of ESE Entertainment Inc., is a media and production infrastructure company based in Poland, which is focused on the video game industry. The company creates and executes esports and gaming events, broadcasts, and media content. Frenzy also operates professional mobile, automated TV equipment, allowing it to produce reality shows from every part of the globe.

About Ekstraklasa S.A.
Ekstraklasa S.A. is a joint-stock company, established on June 14, 2005, thanks to terms agreed upon between Polish Football Association (PFA) and football clubs who were then part of the 1st league. Shareholders of the company are 18 clubs from the highest level and PFA. Ekstraklasa SA is the organizer of professional league called Ekstraklasa, which participants compete for Polish Football Championship. Ekstraklasa S.A. is also responsible for promoting the league and selling media and marketing rights. | www.ekstraklasa.org

About ESE
ESE is a Europe based entertainment and technology company focused on gaming, particularly on 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

Forward-Looking Statements
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: (i) the terms of, and the likelihood of entering into, the definitive agreement between Frenzy and Ekstraklasa S.A.; (ii) the format and timing of the Ekstraklasa Games; and (iii) the success of, and expected benefits to ESE and Frenzy resulting from, the Ekstraklasa Games. 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
647-492-1535

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59cb1c7c-7237-4b13-a60a-2db6ffc255c2

FAQ

What is the significance of the LOI between ESE and Ekstraklasa S.A. for ENTEF stockholders?

The LOI indicates a strategic partnership that could enhance ESE's brand and market position, potentially positively affecting ENTEF stock performance.

When will the Ekstraklasa Games take place?

The Ekstraklasa Games will occur over two seasons: the elimination stage from November 30 to December 29, 2021, and the main stage from January 4 to March 2, 2022.

How many events will Frenzy organize for the Ekstraklasa Games?

Frenzy will organize three live studio events for each of the two contract years under the LOI.

What was decided during ESE's recent AGM?

At the AGM, shareholders voted to set the board size to five directors, appointed an auditor, and approved a new Equity Incentive Plan.