Enthusiast Gaming Announces Appointment of Interim Chief Executive Officer
08 Januar 2024 - 2:05PM
Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the
“Company”) (TSX: EGLX), the leading gaming and media company in
North America, today announced that Nick Brien has provided notice
of his resignation as Chief Executive Officer and director of the
Company, which resignation became effective upon acceptance of the
Board of Directors on January 8, 2024.
The Company has appointed the current Chairman
of the Board, Adrian Montgomery, as interim CEO. Mr. Montgomery
previously served as CEO of Enthusiast Gaming from its inception
until March of 2023, when he had led the Company through periods of
consistent and significant growth. The Board intends to commence a
search process to select a new CEO who will lead the Company into
its next phase of growth.
Michael Beckerman, Lead Director of Enthusiast
Gaming, said, “The Company is undergoing a critical transformation,
so finding the right leader to drive our organization forward is
imperative. As the prior long-term CEO and current Chairman, Adrian
has always demonstrated tremendous capital markets expertise and
successfully guided the Company to its position as the leading
gaming and entertainment company in North America. The Board of
Directors believes Adrian is the right person to lead the Company
through its transition, supported by a talented team. We appreciate
Nick's contributions and wish him well.”
Added Montgomery, “We are at a tremendous
inflection point and will not be distracted as we drive towards
profitability, pursuing our mission of connecting players, creators
and brands in the gaming and entertainment ecosystem. We have a
strong and diverse team, unrivaled scale in an attractive sector,
and a clear roadmap with a large opportunity in front of us. The
team is committed to Enthusiast Gaming and we are confident that we
are on the path to drive sustainable, profitable growth moving
forward.”
ContactsEnthusiast Gaming: Felicia
DellaFortuna, CFOInvestors: FNK IR, Matt Chesler, CFA –
investor@enthusiastgaming.comMedia: press@enthusiastgaming.com
About Enthusiast
GamingEnthusiast Gaming is the leading gaming media and
entertainment company in North America, building the largest
platform for video game enthusiasts and esports fans to connect and
compete worldwide. Combining the elements of its five core pillars:
creators, content, communities, games, and experiences, Enthusiast
Gaming provides a unique opportunity for marketers to create
integrated brand solutions to connect with coveted Gen Z and
Millennial audiences. Through its proprietary mix of digital media,
content and gaming assets, Enthusiast Gaming continues to grow its
network of communities, reflecting the scale and diversity of
gaming enthusiasts today.
Forward Looking Information
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 Gaming
anticipates or expects may or will occur in the future (in whole or
in part) should be considered forward-looking information. 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 statements in this news release include, but are
not limited to, statements regarding the Company’s search process
to identify a new permanent CEO and the Company’s future financial
performance.
Forward-looking statements are based on
assumptions and analyses made by the Company in light of its
experience and its perception of historical trends, current
conditions and expected future developments, including, but not
limited to, expectations and assumptions concerning interest and
foreign exchange rates; capital efficiencies, cost saving and
synergies; growth and growth rates; the success in the esports and
media industry; and the Company’s growth plan. While Enthusiast
Gaming considers these assumptions to be reasonable, based on
information currently available, they may prove to be incorrect.
Readers are cautioned not to place undue reliance on
forward-looking statements. In addition, forward-looking statements
necessarily involve known and unknown risks, including, without
limitation, risks associated with general economic conditions; the
timing and filing of the final base shelf prospectus and
corresponding Registration Statement; the potential offering of any
Securities by the Company; uncertainty with respect to the
completion of any future offering; the ability to obtain applicable
regulatory approvals for any contemplated offerings; the ability of
the Company to negotiate and complete future funding transactions;
adverse industry events; and future legislative, tax and regulatory
developments. Readers are cautioned that the foregoing list is not
exhaustive. For more information on the risk, uncertainties and
assumptions that could cause anticipated opportunities and actual
results to differ materially, please refer to the public filings of
Enthusiast Gaming which are available on SEDAR+ at
www.sedarplus.ca. Readers are further cautioned not to place undue
reliance on forward-looking statements as there can be no assurance
that the plans, intentions or expectations upon which they are
placed will occur. Such information, although considered reasonable
by management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement and reflect our
expectations as of the date hereof, and thus are subject to change
thereafter. Enthusiast Gaming disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
Neither the TSX Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Exchange) accepts responsibility for the adequacy or accuracy
of this release.
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