ESE signs letter of intent to acquire Frenzy, a European esports media company

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VANCOUVER, British Columbia, September 30, 2021 (GLOBE NEWSWIRE) – ESE Entertainment Inc. (“we“”, “ESE“, or the”Society“) (TSXV: ESE) (OTCQB: ENTEF) is pleased to announce that it has entered into a letter of intent (“Letter of Intent“) to acquire (the”Acquisitionâ€) Frenzy sp. zoo (“Frenzy“), a European esports media and technology company.

Frenzy is a media and production infrastructure company focused on the video game industry. The company creates and executes events, broadcasts and multimedia content for esports and games. It also operates professional mobile and automated television equipment, which enables it to produce reality shows from all regions of the world. Its main sources of income include television production, events and league organizations, as well as advertising campaigns. Frenzy is founded and majority owned by Piotr Zak, member of the supervisory board of Cyfrowy Polsat SA, one of the largest digital platforms in Europe and the largest in Central and Eastern Europe.

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Under the terms of the letter of intent, it is expected that ESE will acquire 100% of the issued and outstanding securities in the capital of Frenzy, with 50% of the purchase price paid in cash, and the balance paid in common shares of Frenzy. ‘ESE over a period of two years from closing, subject to achievement of revenue-based milestones after closing. The letter of intent also provides that key Frenzy personnel will continue to operate Frenzy’s business after the shutdown.

Konrad Wasiela, CEO of ESE, commented, “By finalizing the acquisition of the market-leading production and technology team of Frenzy, ESE will strengthen its global proposition and provide a fully supported 360 solution for the esports and games industry. ESE will be able to undertake projects on a global scale, regardless of their size, verticality or geography, and to execute them at the highest level on a global scale. This acquisition will also allow us to directly extend our relationship with media conglomerate Polsat, which provides an unprecedented infrastructure for scale, growth and bandwidth. We are delighted to retain Piotr Zak, the founder of Frenzy, to help take the business to the next level and provide strategic support through the Polsat Group. “

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Piotr Zak, founder and majority shareholder of Frenzy, commented, “I am very happy to announce that Frenzy has signed a letter of intent to join forces with ESE and contribute to its global and cohesive ecosystem. We have built a very solid brand and are expanding internationally. I believe that Frenzy, through its merger with ESE, will be able to grow even faster and consolidate its position in the dynamic and growing esports market.

The acquisition remains subject, among other things, to the satisfactory completion of due diligence by ESE, the conclusion of a definitive agreement between the parties and the approval of the TSX Venture Exchange.

About ESE
ESE is a European entertainment and technology company focused on games, particularly 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 e-commerce channels, esports teams, and gaming leagues. In addition to the Company’s organic growth opportunities, the Company is considering selective acquisitions that align with its goal of becoming a dominant global player in esports technology and infrastructure. | www.ese.gg

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Forward-looking statements
This press release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, that deal with activities, events, results, developments, performance or achievements that ESE anticipates or expects to occur or will occur in the future (in whole or in part) should be considered as prospective. information. This information may involve, without limitation, statements regarding: (i) the terms of the definitive agreement with Frenzy; (ii) the likelihood and timing of completion of the acquisition; and (iii) the expected benefits of the Acquisition for ESE and Frenzy. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “planned”, “estimates”, “forecasts”. “,” “Means”, “anticipates” or “believes” or variations (including negative variations) of these words and expressions, or statements made in the future or indicating that certain actions, events or results “may”, ” could â€,“ would â€,“ could â€or“ will â€(or other variations of the above) be taken, occur, be achieved or be realized. Forward-looking information is based on competitive, financial and economic data and operating plans, strategies or beliefs currently available as of the date of this press release, but involves risks, uncertainties, assumptions and others. known and unknown factors that may cause actual results. , the performance or achievements of ESE are materially different from the future results, performances or achievements expressed or implied by the forward-looking information. These 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, operating results, future capital (including the amount, nature and sources of their funding) and expenses. Any forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in SEE securities should be viewed as 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.
For more information on ESE, please contact:
Daniel Mogil, Investor Relations
[email protected]
647-492-1535

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