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BIRKIRKARA, Malta, May 03, 2019 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (GMBL:OTCQB) (or the “Company”), a licensed online gambling company with a specific focus on esports wagering and 18+ gaming, is pleased to announce that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed offering of its securities. Though the number and type of securities to be offered and the price range for the offering have not yet been determined, the proposed maximum aggregate offering is $11,500,000.
The Company expects to use the net proceeds from the proposed offering for the following purposes:
- In connection with obtaining our proposed license in, and establishing operations in Malta;
- To obtain an online gaming license from, and establish operations in, an Asian country to be selected;
- To develop and launch our skill-based video game tournaments for play on mobile devices;
- To develop and launch our skill-based video game tournaments for play on PCs and video game consoles;
- To upgrade sales and marketing capabilities
- To purchase from a related party a software license for our gambling platform; and
- Working capital and other general corporate purposes.
Joseph Gunnar & Co. and Dinosaur Financial Group will be co-underwriters for the proposed offering.
The offering of the Company’s securities will be made only by means of a prospectus.
When available, a copy of the preliminary prospectus related to the offering may be obtained from:
Esports Entertainment Group, Inc., 170 Pater House, Psaila Street, Birkirkara, Malta, Attn: Grant Johnson, CEO, by calling +356-2757-7000, or by emailing firstname.lastname@example.org;
Joseph Gunnar & Co., LLC, 30 Broad Street, 11th Floor, New York, NY 10004, by calling 212-440-9600, or by emailing [email protected];
Dinosaur Financial Group, LLC, 470 Park Avenue South, 9th Floor, New York, NY 10016, by calling 212-448-9944, or by emailing [email protected].
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
This press release is available on our Online Investor Relations Community for shareholders and potential shareholders to ask questions, receive answers and collaborate with management in a fully moderated forum at https://agoracom.com/ir/EsportsEntertainmentGroup
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About Esports Entertainment Group
Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds licenses to conduct online gambling and 18+ gaming on a global basis in Curacao, Kingdom of the Netherlands and the Kahnawake Gaming Commission in Canada. The Company maintains offices in Antigua, Curacao and Warsaw, Poland. Esports Entertainment common stock is listed on the OTCQB under the symbol GMBL. For more information visit www.esportsentertainmentgroup.com
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
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