TORONTO, ONTARIO, November 21, 2018– Enthusiast Gaming Holdings Inc. (“Enthusiast” or the “Company”) (TSXV: EGLX), a digital media company building the largest community of authentic gamers, announces that is has issued 25,000 options to purchase common shares of the Company (the “Options”) to each of Ben Colabrese, Independent Director and Chair of the Compensation Committee and Chris Frostad, Independent Director and Chair of the Audit Committee, for an aggregate of 50,000 options.
Each of the Options issued will be exercisable at $1.25. All Options granted to an executive, employee or management are pursuant to the Company’s Option Plan and shall vest and become fully exercisable as follows: one half (1/2) of the Options on the date of grant; and the final one half (1/2) of the Options on the date which is one year from the date the Options are granted.
Throughout his 35 year career, Chris Frostad has been instrumental in the development of a variety of high growth, early stage, public and private companies in the resource and technology industry. Chris is the founding Director, President and Chief Executive Officer of Purepoint Uranium Group. Most recently, he was a Director and CEO of Minera Alamos Inc., a gold and copper development company with mining projects in Mexico. Prior to 2005, Chris spent nearly two decades in the technology industry as CEO in Residence at Brightspark Ventures, a Toronto-based technology venture capital firm.
Ben Colabrese is the EVP, Finance at The Toronto Blue Jays, which is wholly owned by Rogers Communications. Ben has been with Rogers since 2015 where he held the roles of VP & GM of Mobilicity (which Rogers acquired in 2015), and SVP, Finance for the X1 Syndication Program. Previous to Rogers, Ben was the CFO of Pelmorex Media/The Weather Network. Prior to joining Pelmorex Ben was the VP, Corporate Development at Rogers from July 2005 to April 2013 where he was responsible for all M&A activity and completed over 30 transactions.
Founded in 2014, Enthusiast is the fastest-growing online community of video gamers. Through the Company’s unique acquisition strategy, it has a platform of over 70 owned and affiliated websites and currently reaches over 75 million monthly visitors with its unique and curated content. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (www.eglx.ca). Over 30,000 people attended EGLX in October 2018. For more information on the Company, visit www.enthusiastgaming.com.
Head, Investor Relations & Marketing
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 Enthusiast 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, comments with respect to strategies, expectations, planned operations and future actions of the Company. 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 Enthusiast to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Enthusiast, 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 the Company 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.
The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.