Esports Entertainment Group Receives Additional $4.4M From Exercise of Warrants for a Total of Approximately $6.2M Since IPO

Esports Entertainment Group, Inc., a licensed online gambling company with a focus on esports wagering and 18+ gaming, is pleased to announce the receipt of approximately $4,375,000 from the exercise of warrants.

TOTAL WARRANT EXERCISE SINCE IPO TOTAL APPROXIMATELY $6.2 MILLION 

Investors participating in the Esports Entertainment Group’s public offering of securities, which was consummated on April 14, 2020 (the “April Offering”), exercised a total of 1,029,393 warrants at a price of $4.25 per share for gross proceeds of approximately $4,375,000 since May 22, 2020.

Combined with the Company’s press release on May 26, in which the Company announced the receipt of approximately $1,860,000 from the exercise of warrants, the Company has received an aggregate of approximately $6,235,000 as of June 8, 2020 from the exercise of warrants by investors participating in the Company’s IPO.

“Today’s announcement significantly bolsters our financial strength and resources necessary to execute our business plan,” said Grant Johnson, CEO of Esports Entertainment Group.  “The continued support and confidence of our valued shareholders is deeply appreciated as we aggressively pursue our growth strategy in 2020 and beyond.”

ABOUT ESPORTS ENTERTAINMENT GROUP:

Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in Malta and Curacao, Kingdom of the Netherlands and is able to accept wagers from over 149 jurisdictions including Canada, Japan, Germany and South Africa. Esports Entertainment offers fantasy, pools, fixed odds and exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company maintains offices in Malta. For more information visit www.esportsentertainmentgroup.com