VANCOUVER, BC / ACCESSWIRE / January 10, 2024 / ESE Entertainment Inc. ("ESE" or the "Company") (TSXV:ESE)(OTCQX:ENTEF), a global leader in gaming entertainment, is pleased to announce that the TSX Venture Exchange (the "Exchange") has accepted the Company's notice to implement a normal course issuer bid (the "NCIB") to purchase, for cancellation, up to 4,000,000 of its common shares (the "Shares"), representing approximately 4.9% of the Company's 81,052,663 current issued and outstanding common shares and approximately 6.9% of the 57,980,125 common shares currently comprising the Company's "Public Float".
The Company has received approval from the Exchange to commence the NCIB on January 12, 2024 and continue it until October 31, 2024, or earlier in the event that the Company has acquired the maximum number of Shares that may be purchased under the NCIB. The Company may also terminate the NCIB earlier if it feels it is appropriate to do so.
The NCIB will be made through the facilities of the Exchange and the purchase and payment for the Shares will be made in accordance with the Exchange requirements at the market price of the Shares at the time of acquisition. All Shares purchased by the Corporation under the NCIB will be cancelled.
The Company has engaged Research Capital Corporation to act as its agent to conduct the NCIB transactions. The Company's management believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the NCIB is in the best interests of the Company, a desirable use of its available cash, and will enhance shareholder value in general. To the knowledge of the Company, no director, senior officer or other insider of the Company currently intends to sell any shares under the NCIB.
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. 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. In this news release, statements respecting the NCIB and its impact on shareholder value in general, constitute forward-looking information. 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:
SOURCE: ESE Entertainment Inc.
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