ESE Produces Two Live LAN Finals for Riot Games' League of Legends and Electronic Arts’ FIFA23

Rhea-AI Summary

ESE Entertainment Inc. (TSXV:ESE, OTCQX:ENTEF) reported the successful production of live esports events, including the Ultraliga finals for League of Legends and the Ekstraklasa Games for FIFA23. The events, held in Poland on March 31 and April 1-2, attracted significant viewership, with over 400,000 views and a peak of nearly 37,000 during broadcasts on Polsat Games.

The company partnered with various organizations, including Riot Games and Electronic Arts, to deliver these events, generating over 2.3 million social media impressions. Additionally, ESE announced a debt settlement involving the issuance of 70,175 common shares at a deemed price of $0.57 per share to settle a CAD $40,000 debt.

Positive

• Success in producing major esports events, indicating strong operational capabilities.
• High viewership numbers, attracting over 400,000 views and nearly 37,000 peak viewers.
• Partnerships with notable companies like Riot Games and Electronic Arts enhancing industry reputation.
• Significant social media engagement with over 2.3 million impressions during the events.

Negative

• Issuance of common shares for debt settlement may lead to shareholder dilution.

VANCOUVER, BC / ACCESSWIRE / April 18, 2023 / ESE Entertainment Inc. ("ESE" or the "Company") (TSXV:ESE) (OTCQX:ENTEF) is pleased to announce the successful production of live esports events for the Ultraliga (League of Legends) and PKO BP Ekstraklasa Games (Electronic Arts (NASDAQ: EA) FIFA23) finals, delivered by its media production division, FRENZY sp. z.o.o. ("FRENZY").

On March 31^st, the finals of the regional League of Legends competition, Ultraliga, FRENZY's flagship product, were held at the Polsat studio in Warsaw, Poland, where the two best organizations in the region competed in front of a live audience.

On April 1^st and 2^nd, the Ekstraklasa Games finals were held, and the top FIFA23 players in the European region competed for the trophy. Both events were broadcast live on the Polsat Games linear TV channel and on the internet, allowing fans from around the world to tune in and watch.

Ekstraklasa Games was produced in partnership Ekstraklasa SA (Poland's top professional football league), Polsat Games, ESL FACEIT Group, Sportive, eMinePro, and PKO Bank Polski. Along with PKO Bank Polski, KFC, Prosto, PlayStation, and Plenti sponsored the event. Sport.pl and Gigasport were responsible for media and press coverage. Ultraliga was brought to life in partnership with Riot Games and Polsat Games. The project was sponsored by KitKat and Dr. Oetker.

Ultraliga and Ekstraklasa Games are considered to be the most important leagues in their respective games in the region, and this year's finals were particularly exciting. The Serbian organization Zero Tenacity won Ultraliga, while Kamil "Riptorek" Soszyński from Jagiellonia Białystok club won the Ekstraklasa Games tournament.

The three days of competition generated over 400,000 views with a peak viewership of nearly 37,000. Over the three days, FRENZY produced over 20 hours of live content in total. According to the Brand24 monitoring platform, the Ultraliga and Ekstraklasa Games brands generated over 2.3 million social media impressions during the three days of broadcasts.

Konrad Wasiela, CEO of ESE commented, "Our team at ESE Entertainment is pleased to have another successful partnership with two of the world's largest video game developers. Through this, we developed and executed two top tier gaming events, showcasing the ability for us to produce and distribute world-class content."

Shares for Debt Transaction

The Company announces that it has agreed to settle an outstanding debt (the "Debt Settlement") in the amount of CAD$40,000.00 (the "Debt") owing to a consultant for accounting services rendered to the Company. Through the Debt Settlement, the Company will issue an aggregate of 70,175 common shares of the Company at a deemed price of $0.57 per Common Share, with such shares to vest as follows: (i) 36,675 common shares to vest on issuance; (ii) 18,250 common shares to vest on April 30, 2023; and (iii) 18,250 common shares to vest on July 31, 2023. In addition to the vesting schedule, the shares issued pursuant to the Debt Settlement will be subject to a hold period of four months and one day from the date of issuance of the shares.

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. |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. 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. These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Although ESE believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. Such statements include statements with respect to the intended vesting dates for the Common Shares. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.

All of the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and ESE assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.

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.

For further information about ESE, please contact:

Daniel Mogil
investors@esegaming.com
+1 (437) 826-4012

SOURCE: ESE Entertainment Inc.

View source version on accesswire.com:
https://www.accesswire.com/749673/ESE-Produces-Two-Live-LAN-Finals-for-Riot-Games-League-of-Legends-and-Electronic-Arts-FIFA23

FAQ

What esports events did ESE Entertainment recently produce?

ESE Entertainment produced the Ultraliga finals for League of Legends and the Ekstraklasa Games finals for FIFA23.

What were the viewership numbers for the recent esports events?

The events generated over 400,000 views with a peak viewership of nearly 37,000.

How did ESE Entertainment settle its outstanding debt?

ESE settled a CAD $40,000 debt by issuing 70,175 common shares at a deemed price of $0.57 per share.

Who were the partners in the recent esports events produced by ESE?

ESE partnered with Riot Games, Electronic Arts, and several other organizations for the events.

What were the social media impressions generated during the esports events?

The events generated over 2.3 million social media impressions.