2022-12-23 | NDAK:GMBL | Announcement | Daily News Byte

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St. Julian’s, Malta–(Newsfile Corp. – December 23, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL ) (NASDAQ: GMBLP ) (NASDAQ: GMBLV ) (NASDAQ: GMBLZ ) (or the “Company” or “EEG”) today announced the appointment of Alex Igelman as Chief Executive Officer (“CEO”) following the departure of Grant Johnson December 3, 2022, who served as president and CEO.

Mr. Igelman joins the company as CEO with more than 30 years of experience in the gaming industry. He is a gaming attorney and co-founder of FairP2P and Esports Capital Corp., entities that have been leaders in their respective sectors. Throughout his career, Mr. Igelman has worked in the gambling and gaming industry in various senior management positions. “We are excited to have Alex join the senior leadership team.” He brings a wealth of knowledge, experience and a fresh perspective as we move the company forward. We welcome Alex to the company,” said Jan Jones Blackhurst, Chairman of the Board of Directors.

“I am delighted at the opportunity to join the EEG at this important point in its journey and to work alongside someone as experienced and respected as the new Chair, Jan Jones Blackhurst.” The company is taking significant steps to improve its focus on creating a valuable esports brand and is initially looking inward at some of its key assets to drive this process. The company also has some valuable assets and relationships in the esports sector and there is a significant growing domestic esports betting market for the company to take a leading position in . The company will continue to structure its business and financial position to maximize shareholder value. I look forward to bringing my experience to the Company’s leadership and focus on implementing these transformative initiatives,” said Mr. Igelman.

In connection with the appointment of Mr. Igelman as CEO, on December 22, 2022, the Company entered into an employment agreement (“Agreement”), which provides for the granting of ordinary shares and stock options to Mr. Igelman on the effective date of the Agreement, or January 3, 2023. These stock awards are granted as equity incentive awards outside of the Esports Entertainment Group, Inc. Equity Incentive Plan. 2020 in accordance with NASDAQ Listing Rule 5635(c)(4). In accordance with the terms of the Agreement, subject to the commencement of his employment, the Company will assign Mr. Igelman an award of 2,500,000 common shares and 2,500,000 time stock options. Ordinary shares of Mr. Igelmans may not be sold or transferred until the six-month anniversary of the date of award. Stock options Mr. Igelman will vest in equal quarterly installments over a one-year period subject to his continued employment with the Company on the applicable vesting dates. Stock awards are subject to the terms of the award agreement setting forth the specific terms of the stock award.

About Esports Entertainment Group

Esports Entertainment Group (NASDAQ: GMBL ) (EEG) is a full-service esports and online betting company. Today, EEG focuses on three verticals: games, igaming and technology. EEG Games provides a wide range of services and infrastructure for businesses to engage esports and gaming communities around the world, including the Esports Gaming League (EGL), which hosts a community of more than 350,000 players on its own EGL.tv tournament platform. EEG iGaming includes numerous award-winning brands covering traditional online sportsbook betting needs as well as a multinational casino operator. EEG Technology is building next-generation platforms, features and services for millennials, Gen Z consumers and brands looking to connect with this demographic. EEG has offices in New Jersey, Estonia, the United Kingdom and Malta. For more information, visit www.esportsentertainmentgroup.com.

Forward-looking statements

The information contained in this document includes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “anticipates,” “projects,” “will,” “will continue,” “will likely result” and similar expressions. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results, activity levels, performance or achievements to be materially different from any future results, level of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could, and likely will, materially affect actual results, activity levels, performance or achievements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-K, as well as those discussed in other documents we file with the SEC, relating to our ability to continue as a going concern, our ability to regain compliance with the Nasdaq listing rules, our significant indebtedness and our obligations under our senior convertible notes. Any forward-looking statement reflects our current views regarding future events and is subject to these and other risks, uncertainties and assumptions regarding our business, results of operations, growth strategy and liquidity. We undertake no obligation to publicly update or revise these forward-looking statements for any reason, or to update for reasons that could cause actual results to differ materially from those projected in these forward-looking statements, even if new information becomes available in the future, unless required by law. The forward-looking statement safe harbor contained in the Private Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Investor Relations Inquiries

ir@esportsentertainmentgroup.com

To view the original version of this press release, visit https://www.nevsfilecorp.com/release/149383

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