Business
J55 Capital Corp. and Enthusiast Gaming Completes Merger with Aquilini GameCo and Luminosity to Form Global Esports and Gaming Leader
Combination creates leading publicly traded esports and gaming organization with $22 m...
About this update from Enthusiast Gaming Holdings Inc
[{"type":"text","content":"J55 Capital Corp. and Enthusiast Gaming Completes Merger with Aquilini GameCo and Luminosity to Form Global Esports and Gaming LeaderCombination creates leading publicly traded esports and gaming organization with $22 million in 2018 pro forma revenue on closing of the merger backed by $55 million in financing, with combined global audience reach of approximately 200 millionMerged assets and reach to include eight esports teams (including management of the Vancouver Titans Overwatch League franchise), 50+ esports influencers, 85+ gaming media websites, 900+ YouTube and Twitch channelsEnthusiast Gaming's extensive media network and gamer data, combined with Luminosity's championship calibre teams and brand equity, expected to drive further audience growth Strategically positioned to leverage Luminosity's robust esports brand and its audience through Enthusiast Gaming's monetization and ad tech platform Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - September 3, 2019) - J55 Capital Corp. (\"J55\") (TSXV: FIVE.P) and Enthusiast Gaming Holdings Inc. (\"Enthusiast\") (TSXV: EGLX) are pleased to announce that they, along with Luminosity Gaming Inc. (\"Luminosity Gaming\") and Aquilini GameCo Inc. (\"GameCo\"), have completed their previously announced transactions, as described below, resulting in the formation of the leading publicly traded esports and gaming media organization in North America. The merged entity, to be called Enthusiast Gaming Holdings Inc. (\"Enthusiast Gaming\"), is expected to commence trading on the TSX Venture Exchange (\"TSXV\") on or about September 9, 2019 under the symbol \"EGLX\".Menashe Kestenbaum, President of Enthusiast Gaming commented, \"Our vision when we founded Enthusiast was to build the largest, vertically integrated esports and gaming company in the world. The merger with Aquilini GameCo and Luminosity was a strategic decision that positions us as a dominant player in the gaming industry and unlocks access to Luminosity's 60 million dedicated esports fans and one of the largest esports franchises. I look forward to working with our new partners to continue to build and diversify Enthusiast Gaming across the esports, gaming and entertainment sectors.\"Enthusiast is party to a long-term management services agreement with the Vancouver Titans to manage the team which was founde...