ESE Leisure Inc. Broadcasts Fiscal 2021 Third Quarter Monetary Outcomes

VANCOUVER, British Columbia, Sept. 23, 2021 (GLOBE NEWSWIRE) — ESE Leisure Inc. (TSXV: ESE) (OTCQB: ENTEF) (the “Firm” or “ESE”) is happy to announce its unaudited interim consolidated monetary outcomes for the three and 9 months ended July 31, 2021. All quantities are acknowledged in Canadian {dollars} except in any other case indicated.

Third Quarter 2021 Monetary and Key Working Highlights:

  • Income of $4.23 million for the three months ended July 31, 2021 vs the three months ended July 31, 2020 income of $0.14 million.
  • Money steadiness elevated to $9.17 million and 0 debt.
  • Entered a content material manufacturing contract with Bitcoin Vault for a serious roll out of an esports and gaming expertise present, strengthening ESE’s presence within the international esports and gaming markets and increasing its manufacturing and media rights capabilities globally.
  • Raised gross proceeds of $8.6 million in a purchased deal public providing of models of the Firm from institutional traders at a value of $1.40 per unit. Every unit consists of 1 widespread share of the Firm and one widespread share buy warrant of the Firm, exercisable at $1.95 for 2 years from issuance, topic to an acceleration proper.
  • Entered right into a letter of intent to accumulate Digital Motorsports, an Eire-based supplier of superior simulation racing infrastructure, expertise and help. This acquisition was subsequently accomplished on September 14, 2021.
  • Enchancment in backside line, internet lack of $1.26 million vs a internet lack of $3.81 million within the earlier quarter.
  • Continued funding in platform improvement in addition to enchancment in back-office features.
  • Creating new software program and expertise for gaming and esports.

“After important progress within the ESE group, launching our acquisition Digital Motorsports and elevating $8.6 million to speed up enlargement, Q3 was a standout quarter for ESE Leisure,” commented Konrad Wasiela, CEO of ESE Leisure. “Within the coming months, we anticipate income progress and margin enlargement. We anticipate this progress to be pushed by momentum within the present enterprise, efficiency of the newly accomplished Digital Motorsports acquisition, direct gross sales to our rising pipeline of shoppers, and new enterprise from our scalable expertise and rising ecommerce platform. Additional, our acquisition pipeline is strong and our group is working tirelessly to search out and execute on potential accretive transactions to maximise shareholder worth.”

The monetary data included on this information launch must be learn along side the Firm’s unaudited interim consolidated monetary statements and associated administration’s dialogue and evaluation for the three and 9 months ended July 31, 2021, which can be found on the Firm’s web site at www.ese.gg and on SEDAR at www.sedar.com.

About ESE
ESE is a Europe primarily based leisure and expertise firm centered on gaming, notably on esports. The Firm gives a variety of companies to main online game builders, publishers, and types by offering expertise, infrastructure, and fan engagement companies internationally. ESE additionally operates its personal ecommerce channels, esports groups, and gaming leagues. Along with the Firm’s natural progress alternatives, the Firm is contemplating selective acquisitions that align with its goal of changing into a dominant international participant in esports expertise and infrastructure. | www.ese.gg

Ahead-Trying Data
This information launch comprises sure statements that will represent forward-looking data beneath relevant securities legal guidelines. All statements, aside from these of historic truth, which handle actions, occasions, outcomes, outcomes, developments, efficiency or achievements that ESE anticipates or expects might or will happen sooner or later (in complete or partly) must be thought of forward-looking data. Such data might contain, however isn’t restricted to, statements with respect to: anticipated income progress and margin enlargement and the drivers thereof. Typically, however not all the time, forward-looking data might be recognized by means of phrases comparable to “plans”, “expects”, “is predicted”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (together with destructive variations) of such phrases and phrases, or statements fashioned sooner or later tense or indicating that sure actions, occasions or outcomes “might”, “may”, “would”, “would possibly” or “will” (or different variations of the forgoing) be taken, happen, be achieved, or come to go. Ahead-looking data relies on at present out there aggressive, monetary and financial knowledge and working plans, methods or beliefs as of the date of this information launch, however contain identified and unknown dangers, uncertainties, assumptions and different elements that will trigger the precise outcomes, efficiency or achievements of ESE to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking data. Such elements could also be primarily based on data at present out there to ESE, together with data obtained from third-party trade analysts and different third-party sources, and are primarily based on administration’s present expectations or beliefs relating to future progress, outcomes of operations, future capital (together with the quantity, nature and sources of funding thereof) and expenditures. Any and all forward-looking data contained on this press launch is expressly certified by this cautionary assertion. Buying and selling within the securities of ESE must be thought of extremely speculative.

This press launch comprises future-oriented monetary data and monetary outlook data (collectively, “FOFI“) about ESE’s potential outcomes of operations, revenues and margins and elements thereof, all of that are topic to the identical assumptions, threat elements, limitations, and {qualifications} as set forth within the above paragraph. FOFI contained on this doc was accepted by administration as of the date of this doc and was supplied for the aim of offering additional details about ESE’s future enterprise operations. ESE disclaims any intention or obligation to replace or revise any FOFI contained on this doc, whether or not because of new data, future occasions or in any other case, except required pursuant to relevant regulation. Readers are cautioned that the FOFI contained on this doc shouldn’t be used for functions aside from for which it’s disclosed herein.

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.

SOURCE ESE Leisure Inc.
For additional details about ESE, please contact:
Daniel Mogil, Investor Relations
[email protected]
647-492-1535