Non-Dilutive Cash Injection Following Minority Interest Asset Sale for $13 Million Enterprise Value
VANCOUVER, BC / ACCESSWIRE / July 19, 2024 / ESE Entertainment Inc. (TSXV:ESE)(OTCQX:ENTEF) ("ESE" or the "Company"), a gaming company that provides a range of services to leading video game developers and publishers, is pleased to provide an update to our shareholders, detailing the company's strategic direction and recent achievements.
Strategic Highlights and Future Objectives:
Non-Dilutive Cash Injection: Following the sale of our remaining minority interest asset, ESE has received a substantial non-dilutive cash injection, recapitalizing the treasury. This transaction not only improves ESE's cash position without causing dilution to shareholders but also reduces audit and operational costs associated with continuing to hold the asset.
Shareholder Value: With a capitalized treasury, ESE is in a stronger position to execute our strategic plans and focus on increasing value. We are dedicated to creating shareholder value through disciplined financial management and strategic investments in high-growth areas.
Focus on Innovation: ESE is now strategically positioned to become a global leader in gaming production, AI, AR, and VR technologies. We are committed to leveraging our industry expertise to push the boundaries of innovation and deliver cutting-edge solutions to our clients and partners.
Profitable Growth through M&A: Our primary focus moving forward is on profitable growth within the gaming and entertainmentsector. We are actively seeking mergers and acquisitions that align with our strategic objectives and enhance our profitability. This approach will help us scale efficiently while maintaining a strong financial foundation.
Operational Excellence: As we streamline our operations and focus on core business areas, we anticipate improved efficiency and cost-effectiveness. This operational excellence will be a key driver in achieving our long-term strategic goals.
Konrad Wasiela, CEO of ESE Entertainment, shared, "The recent sale of our minority interest asset provides us with a significant non-dilutive cash injection, positioning us for future growth. We are now focused on becoming a global leader in gaming production, AI, AR, and VR. Our commitment to profitable growth through strategic M&A and operational excellence will drive us forward."
"In this new phase, we aim to solidify our market presence and enhance shareholder value. Our capitalized treasury and strategic focus put us in an excellent position to achieve our objectives," added Wasiela.
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. |
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 business growth; ESE's plan to achieve its goals; potential and forward-looking initiatives for technology and the expected effects of same; ESE and its alignment with the Company's long-term vision; and more. 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.
For further information about ESE, please contact:
investors@esegaming.com
SOURCE: ESE Entertainment Inc.
