Esports Leisure Group Announces Pricing of $7.5 Million Community Providing of Common Stock and Warrants

Hoboken, New Jersey–(Newsfile Corp. – September 15, 2022) – Esports Leisure Group, Inc. (NASDAQ: GMBL) (the “Corporation”) currently introduced the pricing of its formerly declared underwritten public featuring of 30,000,000 shares of widespread inventory and accompanying warrants to purchase 30,000,000 shares of common stock. Each share of frequent stock is remaining bought collectively with just one prevalent warrant at a blended efficient presenting price of $.25. The typical warrants will be quickly exercisable at a selling price of $.25 for each share of typical inventory and will expire five a long time from the day of issuance. The shares of frequent stock and the accompanying typical warrants can only be purchased alongside one another in the supplying, but will be issued independently and will be right away separable upon issuance. Esports Enjoyment Group has granted the underwriters a 45-day option to buy up to an additional 4,500,000 shares of popular inventory and/or added warrants to invest in up to 4,500,000 shares of prevalent inventory.

Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as reserve-running managers for the supplying.

The gross proceeds of the offering are predicted to be around $7.5 million right before deducting underwriting bargains and commissions and approximated providing bills. This providing is anticipated to near on or about September 19, 2022, subject to customary closing circumstances. Esports Amusement Team intends to use the net proceeds from this presenting for doing the job capital and to repay a part of its superb senior convertible notice.

A registration assertion relating to these securities has been submitted with the U.S. Securities and Trade Fee (SEC) and grew to become successful on February 5, 2021. The giving is being designed only by means of a prepared prospectus and prospectus health supplement that will variety a part of the registration assertion. A ultimate prospectus complement and the accompanying prospectus relating to the giving will be submitted with the SEC and will be offered on the SEC’s internet site at www.sec.gov. Alternatively, when obtainable, digital copies of the remaining prospectus nutritional supplement and the accompanying prospectus may perhaps be received from Maxim Team LLC, 300 Park Avenue, 16th Flooring, New York, New York 10022, at (212) 895-3745.

This press launch shall not represent an offer to market or a solicitation of an present to purchase, nor shall there be any sale of these securities in any state or jurisdiction in which these offer you, solicitation or sale would be illegal, prior to registration or qualification less than the securities regulations of any these types of state or jurisdiction.

About Esports Enjoyment Group

Esports Amusement Team (NASDAQ: GMBL) (EEG) is a whole-assistance esports and on the internet betting organization. EEG focuses on three verticals: Online games, iGaming, and Engineering. EEG Games supplies a extensive array of services and infrastructure for corporations to have interaction esports and gaming communities all-around the planet together with Esports Gaming League (EGL), which hosts a local community of much more than 350,000 gamers on its proprietary match platform EGL.tv set. EEG iGaming includes a number of award-profitable brand names covering conventional on line sports activities ebook wagering wants as nicely as a multinational on line casino operator. EEG Engineering builds following-technology platforms, attributes, and expert services for Millennials, Gen Z buyers, and makes wanting to join with these demographics. EEG has workplaces in New Jersey, Estonia, the British isles and Malta. For additional information and facts, pay a visit to www.esportsentertainmentgroup.com.

Forward-Hunting Statements

The details contained herein consists of ahead-searching statements. These statements relate to long run functions or to our long term economical general performance, and require acknowledged and not known pitfalls, uncertainties and other factors that may induce our real results, levels of activity, performance, or achievements to be materially unique from any foreseeable future results, ranges of action, functionality or achievements expressed or implied by these ahead-looking statements. You really should not put undue reliance on forward-looking statements considering the fact that they entail recognized and unknown threats, uncertainties and other components which are, in some instances, past our regulate and which could, and most likely will, materially have an affect on genuine success, ranges of activity, effectiveness or achievements. Any forward-on the lookout statement reflects our present-day views with regard to upcoming activities and is issue to these and other challenges, uncertainties and assumptions relating to our operations, outcomes of operations, progress technique and liquidity. We believe no obligation to publicly update or revise these ahead-searching statements for any rationale, or to update the causes actual outcomes could differ materially from individuals expected in these forward-hunting statements, even if new information gets to be readily available in the long term. The secure harbor for forward-on the lookout statements contained in the Securities Litigation Reform Act of 1995 shields providers from legal responsibility for their ahead-wanting statements if they comply with the specifications of the Act.

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