Esports Entertainment Group Announces Private Placement of $35 Million Convertible Notes with $17.50 Conversion Price

 

Newark, New Jersey–(Newsfile Corp. – May 28, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (the “Company”) today announced that it has entered into a definitive agreement with an institutional investor for the sale of $35 million in principal amount of 8.0% senior convertible notes with a maturity date of two years following the date of issuance (“Notes”) in a private placement. The Notes are convertible into shares of common stock of the Company at a conversion price of $17.50 per share.

In connection with the private placement, the Company is issuing to the investor Series A warrants to purchase up to 2,000,000 shares of common stock and Series B warrants to purchase up to 2,000,000 shares of common stock. The Series A and Series B warrants have an exercise price of $17.50 and the Series A warrants are exercisable for four years following the date of issuance and the Series B warrants are exercisable for two years following the date of issuance. The Series B warrants are not exercisable until vesting under certain conditions. The Company has the right to call the Series A and Series B warrants, subject to the satisfaction of certain conditions for 30 consecutive trading days.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

The gross proceeds of the offering are expected to be approximately $35 million before deducting placement agent fees and other offering expenses. The Company plans to use the net proceeds of the offering primarily for working capital and acquisition related expenses. The offering is expected to close on or about June 1, 2021, subject to customary closing conditions.

The Notes and warrants (and shares of common stock underlying the Notes and warrants) are being offering in a private placement and have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements. Pursuant to a registration rights agreement, the Company has agreed to file a registration statement with the SEC registering the resale of the shares of common stock underlying the Notes and warrants issued in the private placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is an esports and iGaming company. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

Great Lakes Dredge & Dock CFO Mark Marinko makes a formal corporate presentation. Afterwards, he is joined by Noble Capital Markets Senior Research Analyst Poe Fratt for a Q & A session featuring questions asked by the live audience throughout the event. Research, News, and Advanced Market Data on FAT Information on upcoming live virtual roadshows About FAT (Fresh. Authentic. Tasty.) Brands FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns nine restaurant brands: Fatburger, Johnny Rockets, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises approximately 700 units worldwide. For more information, please visit www.fatbrands.com.

As People Make it Back to the Office, Restaurants See More Traffic

 

Restaurants Welcome Back to Work Traffic

The 2020 pandemic beat up many industries while causing others to rocket. Stock market investors endured sharp selloffs and, in many sectors, rapid recovery. Industries including hospitality and food were among the hardest hit as many restaurants saw their stocks crash during the Covid era. While some restaurants did what they could with either complete lockdowns, or a substantially reduced dining room capacity, and a low customer appetite for dining in, their business was still well-off the normal pace.

To make matters more trying for restaurants, the businesses in their neighborhood had employees working remotely — grocery store sales were up; lunchtime restaurant traffic was limited.  According to Sentieo, publicly traded restaurant chains saw an increase in the price of only 4% in all of 2020 as compared to an 18% total return on the S&P 500.

In 2021, things look much better for restaurants. As many states, counties, and towns began to ease the previous restrictions and capacity limits, restaurant stocks began to climb back up. By some measures, restaurant stocks already have a year-on-year increase of 51.7%. Clearly, we’re getting past the turning point of the post-Covid era. Can we expect more growth in the sector?

 

“We’re absolutely seeing an increase in lunchtime traffic as well as maintaining delivery and to-go business. We’re working on all cylinders right now.” – Andy Wiederhorn, CEO, FAT Brands

 

People are Doing What they Couldn’t do Before

Now at the tail-end of the Covid 19 era, authorities in the U.S. and many countries have begun to ease restrictions. People now do things they previously could not. For instance, they can now take their families to dinner, explore theme parks and spend in ways they were prevented from during the lockdown.

Earlier this year, investors began moving into recreational stocks like Disney (DIS). The result, between January 27 and March 8, DIS saw a 24% increase in market value before retreating. Full-service restaurants saw a similar spike as investors anticipated full dining rooms. People who had been restricting themselves to their homes now were expected to do things they were not.

Andy Wiederhorn, CEO of FAT Brands (FAT), responded to a listener question last week on lunchtime traffic. He was the guest at a Channelchek sponsored Virtual Roadshow.  Wiederhorn responded, “some restaurants are at 120% of sales pre-covid.”  Fat Brands is a restaurant franchising company that owns  the Fatburger, Johnny Rockets, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Yalla Mediterranean, Ponderosa, Bonanza, and Elevation Burger brands. As it relates to traffic, Mr. Wiederhorn added, “sales over the past month are reaching all-time highs with some of the brands.” He responded more directly, “ We’re absolutely seeing an increase in lunchtime traffic as well as maintaining delivery and to-go business. We’re working on all cylinders right now.”

 

Recreational Dining vs. Regular Dining Out

Employers and government workers worldwide are starting to call back their staff members. This is coming as many governments and business organizations look to resume full onsite operations by late June. This is welcome by most. According to a study by Morning Consult, 65% of remote workers are ready to return to their offices to start resume working as they did before.

This adds to the good news for restaurants that relied in large part on local businesses adding to their lunchtime customers. It takes the remote workers who were preparing lunch in their kitchen and places them back in the running to a fast service restaurant.

Throughout the COVID 19 crisis, fast food and partial service food outlets struggled to survive. Some of them were already set up for take-outs. However, there have already been large spikes in companies that cater to workers stopping in for lunch. For instance, Mac Donald’s stock is up by 11%, just as the entire market surges around the same percentage. We expect that with a massive return to work as we hope soon, the dining rooms of these restaurants will see more large crowds. This will, in turn, boost their revenues massively and improve the market in general.

 

Suggested Reading:

Space as a Lucrative Investment Space	FAT Brands Virtual Roadshow replay (May 2021)

Cannabis Customers Served by the “Ice Cream Truck” Delivery Model	Toilet Paper Sales Unravel as People are Flush with Paper Goods

 

Sources:

https://morningconsult.com/return-to-work/

https://channelchek.vercel.app/channelcast-detail/228

 

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Cleveland Cavaliers Team Up With Esports Entertainment Group to Become Official Esports Tournament Platform Provider in Multi-Year Deal

Newark, New Jersey and Cleveland, Ohio–(Newsfile Corp. – May 26, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) have announced a multi-year partnership with the Cleveland Cavaliers (“Cavs”) to be the NBA franchise’s official esports tournament platform provider. As part of the new multi-year agreement, the Company will operate three co-branded esports tournaments annually for the Cavs utilizing its Esports Gaming League (“EGL”) platform.

“Our EGL platform continues to gain strong traction among top-tier professional sports franchises,” said Grant Johnson, CEO of Esports Entertainment Group. “We are delighted to announce the Cavs as our first NBA team partnership. Our robust tournament platform will help the Cavs strengthen connections with their fans, while providing new avenues for engagement.”

As a proud partner of the Cavs, Esports Entertainment Group will receive courtside LED signage at all Cavs regular season home games during the upcoming 2021-2022 season and will be the presenting partner of an annual esports themed night. Esports Entertainment Group will leverage the Cavs ongoing digital marketing efforts spanning social, email, mobile, and online channels to promote the tournaments. The partnership also includes Cavs Legion GC, the team’s NBA 2K League affiliate, with brand exposure on the player’s physical jerseys and virtually in-game. Cavs Legion will also host an upcoming NBA 2K tournament operated by EGL.

“The growing popularity of esports provides a great opportunity for our team to create deeper connections and engagement with our fans,” said Matt O’Brien, Cleveland Cavaliers vice president, global corporate partnerships. “We think these tournaments will be very popular with our fans and a fun way to compete in an entertaining and social environment with gamers from across the world.”

“Working with the Cavs and other top teams in the NFL, NHL, and more provide a strong validation of the quality of our robust platform and its ability to meet the demanding needs of large-scale, high-profile deployments,” said Magnus Leppäniemi, President of Esports at Esports Entertainment Group.

EGL enables live and online events and tournaments where gamers can compete and enjoy a wide range of content relating to esports and video games on a proprietary technology platform. Services include full turnkey esports events, live broadcast production, game launches, and online branded tournaments.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is an esports and iGaming company. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

ABOUT CLEVELAND CAVALIERS

The Cleveland Cavaliers won the NBA Championship in 2016 while also taking the Eastern Conference crown in 2007, 2015, 2016, 2017 and 2018. The team plays at, and also operates, the newly transformed, publicly-owned Rocket Mortgage FieldHouse in downtown Cleveland, Ohio. The Cavaliers are regularly recognized for their extensive community support and engagement programs and contributions, workplace diversity and inclusion leadership, and an on-going economic impact that now registers in the billions of dollars locally. Dan Gilbert is Chairman of the Cleveland Cavaliers. Gilbert and his family of companies have now invested over $2.0 billion in Cleveland. Gilbert is also Founder and Chairman of Quicken Loans, Inc. the nation’s largest mortgage lender, and Founder and Chairman of Rock Ventures LLC, the umbrella entity for his portfolio of business and real estate investments. Len Komoroski is the Cavaliers and Rocket Mortgage FieldHouse CEO and Nic Barlage is the Cavaliers and Rocket Mortgage FieldHouse President of Business Operations. The Cavaliers team is led by General Manager Koby Altman and Head Coach J.B. Bickerstaff. The Cavaliers and Rocket Mortgage FieldHouse provide fans the best experience in the NBA with its extensive and stunning array of amenities and technology and signature, electrifying game presentation. The Cavaliers and Rocket Mortgage FIeldHouse are part of Rock Entertainment Group. The Group also includes the Cleveland Monsters of the AHL, the Canton Charge of the NBA G League, Cavs Legion of the NBA 2K League, Legion Lair Lit by TCP home of Cavs Legion in Cleveland, and Cleveland Clinic Courts – the Cavaliers’ training and development center in Independence, Ohio.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498

dave@redchip.com

Media & Investor Relations
Inquiries
Jeff@esportsentertainmentgroup.com

Cleveland Cavaliers
Zack Yohman
ZYohman@cavs.com
(216) 420-2837

Wednesday, May 26, 2021

Esports Entertainment Group, Inc. (GMBL)
A Backyard Acquisition of Bethard

Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company’s principal business operations include design, develop and test wagering systems.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Adds Sweden and Spain to its gaming business. The company announced plans to purchase Bethard, a sports betting operator in Sweden and Spain for $19.5 million and 12% of net gaming revenue for 2 years. The company generated $31 million in revenue in 2020. As such, we estimate that the net purchase price will be roughly $27 million to $30 million. The acquisition is viewed favorably.


Strategically important market.  Bethard offers an established gaming brand in the large Swedish esports market, providing significant cross selling opportunities for esports betting. Strategically important market. Bethard offers an established gaming brand in the large Swedish esports market, providing significant cross selling opportunities for esports betting …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Tuesday, May 25, 2021

Esports Entertainment Group, Inc. (GMBL)
Jersey Shores Up Its Gambling Strategy

Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company’s principal business operations include design, develop and test wagering systems.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Jersey accepts gaming license. The company received the long-awaited, approval from New Jersey Division of Gaming Enforcement of its gaming license. While the approval does not distinguish between sports and esports betting, the company entered its application with one of the largest states for gambling in an effort to become the preeminent platform for esports betting.


Next steps.  The company’s Vie gambling software platform will go through regulatory testing labs to determine if the software is compliant and meets regulatory standards. The testing could take approximately 3 to 10 weeks. Once the software is audited, the company could then be granted a transactional waiver. This will allow it to be in business and for customers to begin placing bets as soon as …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Namaste Technologies Announces Phyto Extractions Shatter Now Available Nationally For Medical Consumers

 

TORONTO, May 25, 2021 (GLOBE NEWSWIRE) — Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, is excited to announce that the Company’s subsidiary, CannMart Inc., holder of exclusive distribution rights to all Phyto Extractions™ products, is now distributing Phyto Extractions’ well known shatter products nationally for its medical consumers at CannMart.com, and distribution to recreational consumers via anticipated future sales to provincial monopoly wholesalers. This new launch will provide patients through CannMart.com the opportunity to purchase Phyto Extractions’ latest shatter product line in three strain varieties: Pink Kush, Blue Gorilla OG and D. Bubba, offering Canadians the opportunity of a renewed experience in the limited shatter offerings currently available in Canada. CannMart medical patients are easily able to purchase Phyto Extractions products from the comfort of their home and have them delivered directly to their door once they have received their medical document.

“We are pleased to offer cannabis consumers high quality shatter products from Phyto,” said Meni Morim, CEO of Namaste. “Shatter is a specialized subcategory of concentrate products, which is currently underserved, and has higher margins. The Phyto brand carries significant legacy cache when it comes to this subcategory, all combined, making this product expansion a compelling growth opportunity. While these products are available now for medical customers, we expect them to be available on the recreational market shortly. We have already received confirmations and approvals for SKUs in hand and purchase orders in process of finalization with certain provinces – all wanting this new product line available for their consumers.”

Phyto Extractions’ shatter is a well-known cannabis extract in its purest form, with over 70% THC, negligible CBD content, and a distinguishing effect that is said to outperform other extracts. Extracted with butane to preserve cannabis terpenes, both shatter’s fast-acting onset and natural derived terpenes that maintain and enhance the natural flavour of the extracted plant are unique selling points that are highly regarded by medical and recreational consumers. These products are anticipated to be available shortly via CannMart’s wholesale distribution channel in Alberta, Saskatchewan, Manitoba, British Columbia and Ontario to recreational customers, looking for a desirable experience with cannabis concentrates.

Producing pure extracts such as shatter, must be conducted in a controlled laboratory environment with strict safety measures. Phyto Extractions has recently upgraded its facility with the new ExtractionTek Solutions MeP XT70 hydrocarbon extraction system to ensure all shatter products are pure, safe and consistent with unmatched quality to maximize the consumer experience. For more information on how shatter is made, watch Phyto Extractions facility tour and shatter production process: https://youtu.be/bMz4V_WVoLI

About Phyto Extractions™

Phyto Extractions™ is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction and products, no cultivation), Sales (extracts, topicals, and edibles), and R&D through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc.

About Namaste Technologies Inc.

Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and US customers with access to hemp-derived CBD and smoking accessories. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.

Information on the Company and its many products can be accessed through the links below:

NamasteTechnologies.com

NamasteMD.com

Cannmart.com

For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: ir@namastetechnologies.com

Source: Namaste Technologies Inc

FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including, without limitation, statements related to distribution of products on cannmart.com and through CannMart provincial buyers are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, CannMart Inc.’s ability to finalize and fulfill purchase orders for shatter products, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: regulatory risk, risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom and risks specifically related to the Company’s operations. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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 or has in any way approved or disapproved of the contents of this press release.

Source: Namaste Technologies Inc.

 

Esports Entertainment Group to Add Swedish and Spanish-Licensed Gaming Business with Acquisition of Bethard

 

• Bethard, the B2C business of Gameday Group plc, generated $31M net gaming revenues in 2020

• GMBL raises Fiscal 2022 revenue guidance to $100M-$105M as result of the transaction

Newark, New Jersey–(Newsfile Corp. – May 25, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, today announced the signing of an agreement to acquire Gameday Group’s B2C business, operating under the ‘Bethard’ brand by Bethard Group Limited (“Bethard”), a fast-growing sports betting operator that generated $31 million in revenue in 2020. Under the terms of the agreement, EEG will pay EUR 16 mil ($19.5 mil) in cash and a 12% net gaming revenue share for two years. The acquisition is expected to close on July 1, 2021. As a result of transaction, Esports Entertainment Group is raising its fiscal 2022 revenue guidance to $100 million to $105 million.

“This is another great addition for Esports Entertainment Group that substantially increases our revenues, and available markets,” commented Grant Johnson, CEO of Esports Entertainment Group. “With this transaction, we expect to gain two new gaming licenses, including one in the strategically important Swedish market. At the completion of the license hand over we will have 6 tier one licenses.”

Bethard is an iGaming company that offers sports betting and casino games online. The company was founded in 2012 and consists of a team of passionate individuals who shares a vision of taking sports betting and casino to the next level. Bethard has a strong focus on responsible gambling with best-in-class compliance functions in order to act properly and in a sustainable way in regulated markets. The company is based in St. Julians, Malta.

According to ResearchAndMarkets.com, the global gaming market reached a value of $167.9 billion in 2020 and is forecasted to grow at a 9.2% CAGR through 2026, reaching $287.1 billion.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

 

Esports Entertainment Group to Add Swedish and Spanish-Licensed Gaming Business with Acquisition of Bethard

 

• Bethard, the B2C business of Gameday Group plc, generated $31M net gaming revenues in 2020

• GMBL raises Fiscal 2022 revenue guidance to $100M-$105M as result of the transaction

Newark, New Jersey–(Newsfile Corp. – May 25, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, today announced the signing of an agreement to acquire Gameday Group’s B2C business, operating under the ‘Bethard’ brand by Bethard Group Limited (“Bethard”), a fast-growing sports betting operator that generated $31 million in revenue in 2020. Under the terms of the agreement, EEG will pay EUR 16 mil ($19.5 mil) in cash and a 12% net gaming revenue share for two years. The acquisition is expected to close on July 1, 2021. As a result of transaction, Esports Entertainment Group is raising its fiscal 2022 revenue guidance to $100 million to $105 million.

“This is another great addition for Esports Entertainment Group that substantially increases our revenues, and available markets,” commented Grant Johnson, CEO of Esports Entertainment Group. “With this transaction, we expect to gain two new gaming licenses, including one in the strategically important Swedish market. At the completion of the license hand over we will have 6 tier one licenses.”

Bethard is an iGaming company that offers sports betting and casino games online. The company was founded in 2012 and consists of a team of passionate individuals who shares a vision of taking sports betting and casino to the next level. Bethard has a strong focus on responsible gambling with best-in-class compliance functions in order to act properly and in a sustainable way in regulated markets. The company is based in St. Julians, Malta.

According to ResearchAndMarkets.com, the global gaming market reached a value of $167.9 billion in 2020 and is forecasted to grow at a 9.2% CAGR through 2026, reaching $287.1 billion.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

 

Stem Holdings d/b/a Driven By Stem and Tinley Beverage Create Home Delivery Solution for Cannabis Beverages in California

 

LOS ANGELES, CA, BOCA RATON, FL, and TORONTO, May 25, 2021 (GLOBE NEWSWIRE) — Stem Holdings (OTCQX:STMH, CSE:STEM) (“Stem”) and The Tinley Beverage Company Inc. (“Tinley’s” and, together with Stem, the “Companies”) are pleased to announce the integration of Stem’s technology into Tinley’s website, enabling a fast home delivery solution for cannabis-infused beverages throughout the State of California.

Led by Adam Berk, who was the founder and CEO of the first patented online food ordering company in the U.S., Osmio, which became GrubHub, Stem’s licensed, proprietary home delivery network Budee^TM reaches 92% of California’s population for delivery within two (2) hours or by a scheduled time. Stem achieves this through their extensive network of employed home delivery drivers and licensed regional non-storefront retail storage facilities. The platform also offers robust white label e-commerce technology that enables customer ordering via third-party brands’ web sites. This technology, now integrated into Tinley’s own web site, enables consumers to select Tinley’s beverages on www.drinktinley.com and execute an order for delivery by Budee^TM on their website in an apparent seamless customer experience.

Stem’s statewide home delivery platform will be populated with Tinley’s flagship products, and Tinley’s will offer the option of participation in the Stem platform to the growing number of approved third-party brands that have their beverages manufactured at Tinley’s bottling facility in Long Beach, California. Stem’s white label e-commerce platform and home delivery network will constitute an additional value-added service available to approved third-party beverages manufactured at Tinley’s facility, allowing them to expand their home delivery footprint as an additional way of accessing consumers statewide.

Retail and home delivery options for cannabis-infused beverages are often constrained in California by space and other logistical limitations for beverage products at the retail and last-mile delivery levels. Stem’s platform enables seamless delivery from wholesale distribution to consumers’ homes for Tinley’s and other approved third-party manufacturing brands.

The Companies plan to collaborate further to create a variety of beverage-specific online portals that enable outreach and engagement with canna-curious consumers, who can be averse to smoking, and may not frequent dispensaries. With less than 15% of California’s adult population having consumed cannabis in the past year⁽¹⁾, the drink category offers the most natural avenue for this largely untapped consumer base, including beverage alcohol consumers, to transition into cannabis. These portals can employ targeted channel marketing and messaging, comparable to wine and spirit club sites, which the Companies believe are necessary for recruiting these new consumers.

“Home delivery is booming and is an increasingly important part of our growth strategy as well as those of our third-party manufacturing clients,” said Sven Stalley, General Manager of Tinley’s California. “Cannabis beverage consumers are often new or casual cannabis users that may not frequently visit dispensaries. They purchase for home delivery across more consumer categories than ever before, so this collaboration can help bridge the gap for new and mainstream alcohol consumers to build cannabis-beverage consumption into their personal and social use occasions.”

“Tinley’s growing lineup of Tinley’s and third-party beverages expands Stem’s access to a growing portfolio of high-quality drinks, as well as opportunities for working with these brands on collaborative, drink-specific marketing,” said Adam Berk, CEO of Stem Holdings. “Access to unique products and category-specific marketing was a key component of Osmio’s growth, and the opportunity to innovate and collaborate with Tinley’s enables us to employ similar tactics within the cannabis industry.”

About Stem Holdings

Stem Holdings is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens^TM, TravisxJames^TM, and Yerba Buena^TM flower and extracts; Cannavore^TM edible confections; Doseology^TM, a CBD mass-market brand launching in 2021; as well as DaaS brands Budee^TM and Ganjarunner^TM through the acquisition of Driven Deliveries. Budee^TM and Ganjarunner^TM e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).

About The Tinley Beverage Company and Beckett’s Tonics

The Tinley Beverage Company manufactures the Becketts Classics^TM and Beckett’s 27^TM line of non-alcoholic, terpene-infused spirits and cocktails. Beckett’s products are available in mainstream food, beverage and specialty retailers, as well as online across the United States. Cannabis-infused versions of these products are also offered in licensed dispensaries throughout California. Expansion to Canada is underway for both product lines. Tinley’s facility in Long Beach California contains the state’s most versatile and technologically-advanced cannabis-licensed beverage manufacturing equipment. Please visit www.drinkbecketts.com, www.drinktinley.com, Instagram @drinktinleys and @drinkbecketts for recipes, product information and home delivery options.

Forward-Looking Statements

This news release contains forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include financial projections and estimates, statements regarding plans, goals, objectives, intentions and expectations with respect to the future business, operations, expected expansion of distribution footprints and consumer access, the expected transition of consumers from alcohol to cannabis, the ability to achieve unique channel marketing and messaging, and phrases containing words such as “ongoing”, “estimates”, “expects”, or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions “will”, “may”, “could”, or “should” occur or be achieved, or comparable terminology referring to future events or results. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.

Products, formulations and timelines outlined herein are subject to change at any time.

Sources:

      (1)   Civilized. “10 States That Smoke the Most Weed” https://www.civilized.life/articles/10-states-that-smoke-the-most-weed/

For further information on The Tinley Beverage Company and Stem Holdings, please contact:

Stem Holdings
Investor Relations Contact:
KCSA Strategic Communications
Valter Pinto or Elizabeth Barker
+1 212.896.1254 or +1 212.896.1203
valter@kcsa.com or ebarker@kcsa.com

Media Contact:
Mauria Betts
Director of Branding and Public Relations
971.266.1908
mauria@stemholdings.com

The Tinley Beverage Company
Sven Stalley
(310) 507-9146
info@drinktinley.com
Twitter: @drinktinleys and @drinkbecketts
Instagram: @drinktinleys and @drinkbecketts
www.drinktinley.com

Namaste Technologies Announces Phyto Extractions Shatter Now Available Nationally For Medical Consumers

 

TORONTO, May 25, 2021 (GLOBE NEWSWIRE) — Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, is excited to announce that the Company’s subsidiary, CannMart Inc., holder of exclusive distribution rights to all Phyto Extractions™ products, is now distributing Phyto Extractions’ well known shatter products nationally for its medical consumers at CannMart.com, and distribution to recreational consumers via anticipated future sales to provincial monopoly wholesalers. This new launch will provide patients through CannMart.com the opportunity to purchase Phyto Extractions’ latest shatter product line in three strain varieties: Pink Kush, Blue Gorilla OG and D. Bubba, offering Canadians the opportunity of a renewed experience in the limited shatter offerings currently available in Canada. CannMart medical patients are easily able to purchase Phyto Extractions products from the comfort of their home and have them delivered directly to their door once they have received their medical document.

“We are pleased to offer cannabis consumers high quality shatter products from Phyto,” said Meni Morim, CEO of Namaste. “Shatter is a specialized subcategory of concentrate products, which is currently underserved, and has higher margins. The Phyto brand carries significant legacy cache when it comes to this subcategory, all combined, making this product expansion a compelling growth opportunity. While these products are available now for medical customers, we expect them to be available on the recreational market shortly. We have already received confirmations and approvals for SKUs in hand and purchase orders in process of finalization with certain provinces – all wanting this new product line available for their consumers.”

Phyto Extractions’ shatter is a well-known cannabis extract in its purest form, with over 70% THC, negligible CBD content, and a distinguishing effect that is said to outperform other extracts. Extracted with butane to preserve cannabis terpenes, both shatter’s fast-acting onset and natural derived terpenes that maintain and enhance the natural flavour of the extracted plant are unique selling points that are highly regarded by medical and recreational consumers. These products are anticipated to be available shortly via CannMart’s wholesale distribution channel in Alberta, Saskatchewan, Manitoba, British Columbia and Ontario to recreational customers, looking for a desirable experience with cannabis concentrates.

Producing pure extracts such as shatter, must be conducted in a controlled laboratory environment with strict safety measures. Phyto Extractions has recently upgraded its facility with the new ExtractionTek Solutions MeP XT70 hydrocarbon extraction system to ensure all shatter products are pure, safe and consistent with unmatched quality to maximize the consumer experience. For more information on how shatter is made, watch Phyto Extractions facility tour and shatter production process: https://youtu.be/bMz4V_WVoLI

About Phyto Extractions™

Phyto Extractions™ is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction and products, no cultivation), Sales (extracts, topicals, and edibles), and R&D through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc.

About Namaste Technologies Inc.

Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and US customers with access to hemp-derived CBD and smoking accessories. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.

Information on the Company and its many products can be accessed through the links below:

NamasteTechnologies.com

NamasteMD.com

Cannmart.com

For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: ir@namastetechnologies.com

Source: Namaste Technologies Inc

FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including, without limitation, statements related to distribution of products on cannmart.com and through CannMart provincial buyers are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, CannMart Inc.’s ability to finalize and fulfill purchase orders for shatter products, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: regulatory risk, risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom and risks specifically related to the Company’s operations. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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 or has in any way approved or disapproved of the contents of this press release.

Source: Namaste Technologies Inc.