Non-Dilutive Cash Injection Following Minority Interest Asset Sale for $13 Million Enterprise Value
VANCOUVER, BC / ACCESSWIRE / July 19, 2024 / ESE Entertainment Inc. (TSXV:ESE)(OTCQX:ENTEF) ("ESE" or the "Company"), a gaming company that provides a range of services to leading video game developers and publishers, is pleased to provide an update to our shareholders, detailing the company's strategic direction and recent achievements.
Strategic Highlights and Future Objectives:
Non-Dilutive Cash Injection: Following the sale of our remaining minority interest asset, ESE has received a substantial non-dilutive cash injection, recapitalizing the treasury. This transaction not only improves ESE's cash position without causing dilution to shareholders but also reduces audit and operational costs associated with continuing to hold the asset.
Shareholder Value: With a capitalized treasury, ESE is in a stronger position to execute our strategic plans and focus on increasing value. We are dedicated to creating shareholder value through disciplined financial management and strategic investments in high-growth areas.
Focus on Innovation: ESE is now strategically positioned to become a global leader in gaming production, AI, AR, and VR technologies. We are committed to leveraging our industry expertise to push the boundaries of innovation and deliver cutting-edge solutions to our clients and partners.
Profitable Growth through M&A: Our primary focus moving forward is on profitable growth within the gaming and entertainmentsector. We are actively seeking mergers and acquisitions that align with our strategic objectives and enhance our profitability. This approach will help us scale efficiently while maintaining a strong financial foundation.
Operational Excellence: As we streamline our operations and focus on core business areas, we anticipate improved efficiency and cost-effectiveness. This operational excellence will be a key driver in achieving our long-term strategic goals.
Konrad Wasiela, CEO of ESE Entertainment, shared, "The recent sale of our minority interest asset provides us with a significant non-dilutive cash injection, positioning us for future growth. We are now focused on becoming a global leader in gaming production, AI, AR, and VR. Our commitment to profitable growth through strategic M&A and operational excellence will drive us forward."
"In this new phase, we aim to solidify our market presence and enhance shareholder value. Our capitalized treasury and strategic focus put us in an excellent position to achieve our objectives," added Wasiela.
ESE Entertainment Inc. Konrad Wasiela Chief Executive Officer and Director +1 (437) 826-4012
About ESE Entertainment Inc. ESE is a global technology company focused on gaming. The Company provides a range of services to leading video game developers, publishers, and brands by providing technology, infrastructure, and fan engagement services internationally. ESE also operates its own ecommerce channels, esports teams, and gaming leagues. |www.esegaming.com
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