Business
Esports Entertainment Group Announces Filing of S-1 Registration Statement
Esports Entertainment Group Announces Filing of S-1 Registration Statement.
About this update from Esports Entertainment Group, Inc.
[{"type":"text","content":"\nBIRKIRKARA, Malta, May 03, 2019 (GLOBE NEWSWIRE) -- Esports Entertainment Group, Inc. (GMBL:OTCQB) (or the \"Company\"), a licensed online gambling company with a specific focus on esports wagering and 18+ gaming, is pleased to announce that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed offering of its securities. Though the number and type of securities to be offered and the price range for the offering have not yet been determined, the proposed maximum aggregate offering is $11,500,000.\n The Company expects to use the net proceeds from the proposed offering for the following purposes: In connection with obtaining our proposed license in, and establishing operations in Malta;To obtain an online gaming license from, and establish operations in, an Asian country to be selected;To develop and launch our skill-based video game tournaments for play on mobile devices;To develop and launch our skill-based video game tournaments for play on PCs and video game consoles;To upgrade sales and marketing capabilitiesTo purchase from a related party a software license for our gambling platform; andWorking capital and other general corporate purposes. Joseph Gunnar & Co. and Dinosaur Financial Group will be co-underwriters for the proposed offering. The offering of the Company’s securities will be made only by means of a prospectus. When available, a copy of the preliminary prospectus related to the offering may be obtained from: Esports Entertainment Group, Inc., 170 Pater House, Psaila Street, Birkirkara, Malta, Attn: Grant Johnson, CEO, by calling +356-2757-7000, or by emailing [email protected]; Joseph Gunnar & Co., LLC, 30 Broad Street, 11th Floor, New York, NY 10004, by calling 212-440-9600, or by emailing [email protected]; Dinosaur Financial Group, LLC, 470 Park Avenue South, 9th Floor, New York, NY 10016, by calling 212-448-9944, or by emailing [email protected]. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer t...