ESE Produces 23 days of National TV broadcasts for the Riot Games, League of Legends tournament: Worlds 2023
VANCOUVER, British Columbia, October 10, 2023 – 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, announces that its media production unit, will produce 23 days of live broadcasts for the League of Legends World Championship 2023 – Worlds 2023. League of Legends is one of the most popular video game titles in the world, produced by publisher Riot Games. The broadcast, complete with native commentary for European fans, will be conducted from a professional studio covering an area of 500 square meters. The most significant League of Legends matches can be followed through online platforms including Twitch and YouTube, as well as on television through Polsat Games.
ESE is responsible for selecting the commentary team, signal production, and transmission. During the 23 days of gameplay, viewers can also expect surprises, such as visits from well-known figures from the League of Legends world and interviews with special guests.
Worlds 2023 is considered the most important tournament of the League of Legends season, taking place this year in the South Korean cities of Busan and Seoul. The tournament is divided into 5 phases: Play-ins, Group Stage, Quarter-finals, Semi-finals, and Finals. 22 teams from around the world have qualified for the competition, vying for the title of world champion and a prize pool of $2.2 million US dollars.
“We are excited that Riot Games has once again entrusted us with this fantastic global production. An event of this caliber deserves world-class production, which is why all matches will be produced and broadcast from a large television studio covering an area of 500 square meters, space for commentators and content areas for interviews with invited guests.” said Konrad Wasiela, CEO of ESE Entertainment.
ESE Also Announces Option Grants
The Company announces that is has granted a total of 1,250,000 options (“Options“) to purchase common shares in the capital of the Company (“Common Shares“) to certain employees, consultants, officers and directors of the Company under its equity incentive plan (the “Plan”). The granted Options are exercisable at a price of $0.13 per share and expire five years from the date of grant. All of the Options vest on the date of grant.
Of the Options granted, 250,000 Options were granted to directors and officers of the Company. The Company relied on section 5.5(b) of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as the exemption from the formal valuation requirements of MI 61-101 and TSX Venture Exchange Policy 5.9 in respect of the Options grant to the directors and officers of the Company, as no securities of the Company are listed on a specified market as defined in MI 61-101. The Company relied on section 5.7(1)(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 and TSX Venture Exchange Policy 5.9 in respect of the Options grant to the directors and officers of the Company, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Options granted to the directors and officers of the Company exceeded 25% of the Company’s market capitalization.
ESE Entertainment Inc.
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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. Such information may involve, but is not limited to, statements with respect to: the growth of esports events division and offerings, and the benefits of ESE’s production of the tournament. 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, including that a binding agreement may not be entered into with respect to the Transaction, and that even if a binding agreement is entered into that the Transaction may not be completed. 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.
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