Enthusiast Gaming Receives Conditional Approval to Graduate to the Toronto Stock Exchange

TORONTO, Dec. 18, 2019 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (TSXV: EGLX)(OTCQB: ENGMF)(FSE: 2AV) is pleased to announce that the Company has received conditional approval to graduate from the TSX Venture Exchange (“TSXV”) to the Toronto Stock Exchange (“TSX”). Enthusiast Gaming’s common shares will commence trading on the TSX under the same ticker symbol “EGLX”. The Company anticipates trading on the TSX will commence in January 2020.

According to the TMX Group, there are 1,933 companies listed on the TSXV⁽¹⁾ and only 21 graduated to the TSX year to date. In 2018, only 12 TSXV listed companies graduated to the TSX. Making the transition from being a TSXV listed company to a TSX listed company is an accomplishment for any public issuer, and it’s evident that only a small fraction of listed companies are able to make that transition. The up-listing will be a significant milestone for Enthusiast Gaming, and follows a number of important corporate actions since closing the merger between Enthusiast, Aquilini GameCo, and Luminosity Gaming in August 2019.

Final approval of the listing is subject to the Company fulfilling certain customary conditions required by the TSX. The Company will issue a statement once the TSX confirms the date on which trading on the TSX will commence. Upon satisfaction of the final listing requirements, the Company’s common shares will be delisted from the TSXV and commence trading on the TSX. Shareholders will not be required to take any action.

About Enthusiast Gaming 

Enthusiast Gaming (TSX.V: EGLX)(OTCQB: ENGMF)(FSE: 2AV) is building the world’s largest network of communities for gamers and esports fans. Already the largest gaming network in North America and the United Kingdom, the Company’s business is comprised of three main pillars: Media, Events and Esports. Enthusiast Gaming’s digital media platform includes 100+ gaming related websites and 900 YouTube channels which collectively reach 150 million visitors monthly. The media network generates over 30 billion ad requests and over 1 billion page views per month. Enthusiast’s esports division, Luminosity Gaming, is a leading global esports franchise that consists of 7 professional esports teams under ownership and management, including the Vancouver Titans Overwatch team and the Seattle-based Call of Duty team. Collectively, the integrated ecosystem reaches over 200 million gaming enthusiasts on a monthly basis. Enthusiast Gaming’s event business, owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.com) and the largest mobile gaming event in Europe, Pocket Gamer Connects. For more information on the Company, visit www.enthusiastgaming.com. For more information on Luminosity Gaming, please visit luminosity.gg.

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1. https://www.newswire.ca/news-releases/tmx-group-equity-financing-statistics-november-2019-839101763.html

CONTACT:

Alex Macdonald
CFO
(416) 623-9326

Julia Becker
Head, Investor Relations & Marketing 
(604) 785-0850 
[email protected]

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.