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TORONTO, July 16, 2019 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (TSXV: EGLX) (OTCQB: EGHIF), (“Enthusiast” or the “Company”), the largest publicly traded video game media and esports company in North America, is pleased to announce it has engaged international investor relations firm MZ Group (“MZ”) to lead a comprehensive strategic investor relations and financial communications program across the United States and in other key markets.
MZ will work closely with Enthusiast’s management and investor relations to develop and execute a complete capital markets strategy designed to increase the company’s visibility throughout the investment community. MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors. MZ has global offices including New York, Chicago, Minneapolis, San Diego, Austin, Aliso Viejo, Taipei, and São Paulo. Additionally, MZ Group was recently ranked the No. 1 consultancy in Latin America and No. 7 in the world in business communication.
Julia Becker, Enthusiast’s Head of Investor Relations and Marketing commented, “Enthusiast has continued to execute on its successful Canadian Investor Relations strategy. Without much visibility and coverage in the US and other key markets, the Company has been able to raise funds and build a solid foundation of investors. As Enthusiast completes its merger and becomes the largest global publicly traded esports company, it is the perfect time to widen our global coverage and investor base. We look forward to working closely with MZ and utilizing their US and global expertise to assist with the execution of our global corporate strategy.”
With over 75% of its visitors based in the US, Enthusiast continues to execute on its North American expansion plan. Implementing a strategic Investor Relations program and shareholder communications plan across the United States and other key markets, is an important next step for the Company to build credibility and awareness. The engagement of MZ is representative of Enthusiast’s commitment to becoming an industry leader in the North American gaming and esports market.
The recently announced merger with Aquilini Gameco and Luminosity will significantly expand Enthusiast’s global audience reach to over 200 million gaming enthusiasts while providing the company with $22 million in pro forma revenue and $36 million in cash on closing of the merger. This merger will also increase the company’s total assets by including seven esports teams, 40 esports influencers, 80+ gaming websites and over 900 YouTube and Twitch channels.
About MZ Group
MZ North America is the U.S. division of MZ Group, a multinational company and one of the world’s largest independent investor relations and corporate communications firms. MZ, founded in 1999, combines capital markets intelligence, global investor targeting, IR technology, corporate governance, media and corporate communication and IR consulting, providing comprehensive programs that successfully build and manage shareholder value. With a team of highly experienced senior professionals and an integrated service portfolio, MZ ensures that companies are provided with the right tools and strategies to interact effectively with the investment community and the media, successfully conveying the investment message. MZ's market intelligence, advisory and tactical support activities for investor relations and corporate communications programs are underpinned by a comprehensive IT infrastructure, allowing companies to rapidly achieve global standards of best practices. For more information, please visit www.mzgroup.us.
About Enthusiast Gaming
Founded in 2014, Enthusiast Gaming is the largest vertically integrated video game company and has the fastest-growing online community of video gamers. Through the Company’s organic and acquisition strategy, it has amassed a platform of over 150 million monthly visitors across its network of websites and YouTube channels. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.ca) with approximately 55,000 people attending in 2018. For more information on the Company, visit www.enthusiastgaming.com.
Head of 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.