Beedie Investments Ltd. Announces Filing of Updated Early Warning Report in Relation to Enthusiast Gaming

Rhea-AI Summary

Beedie Investments Ltd. (EGLXF) announced an internal reorganization completed on December 23, 2025, that moved 42,504,187 Enthusiast Gaming warrants and related credit-agreement rights into newly formed subsidiaries under Beedie Capital Holdings.

Assuming full conversion of the 42,504,187 warrants, Beedie would own or control approximately 21.08% of Enthusiast Gaming on a partially diluted basis both before and after the reorganization. The securities were transferred at their original acquisition cost and are held for investment; future purchases or sales are possible.

Positive

• 42,504,187 warrants transferred to subsidiary
• Ownership preserved at ~21.08% on partially diluted basis
• Securities transferred at original acquisition cost

Negative

• Company may sell all or part of holdings in open market or privately
• Company may purchase additional shares, potentially increasing stake

News Market Reaction – EGLXF

-2.60%

1 alert

-2.60% News Effect

On the day this news was published, EGLXF declined 2.60%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Beedie Investments Ltd. ("Beedie Capital") announces it has completed an internal reorganization (the "Reorganization") of the holdings of Beedie Capital, pursuant to which: (i) Beedie Capital assigned and transferred 42,504,187 common share purchase warrants ("Warrants") in the capital of Enthusiast Gaming Holdings Inc. ("Enthusiast Gaming") to Beedie Capital Investments Ltd. ("Beedie Capital Investments"), and assigned and transferred its rights and obligations under a credit agreement dated July 12, 2024 (as amended) between Beedie Capital and Enthusiast Gaming to Beedie Capital Lending Ltd. ("Beedie Capital Lending"); and (ii) Beedie Capital assigned and transferred all of the outstanding shares of Beedie Capital Investments to Beedie Capital Holdings Ltd. ("Beedie Capital Holdings"), and assigned and transferred all of the outstanding shares of Beedie Capital Lending to Beedie Capital Holdings, resulting in each of Beedie Capital Investments and Beedie Capital Lending being a wholly-owned subsidiary of Beedie Capital Holdings. The aforementioned securities were valued at their original acquisition cost when transferred by Beedie Capital to Beedie Capital Investments and Beedie Capital Lending, respectively, as part of the Reorganization.

Each of Beedie Capital Investments, Beedie Capital Lending and Beedie Capital Holdings is a wholly-owned subsidiary of Beedie Capital.

Immediately prior to the completion of the internal Reorganization and assuming conversion in full of the 42,504,187 Warrants, Beedie Capital, directly or indirectly, would own or control a total of 42,504,187 common shares ("Common Shares") in the capital of Enthusiast Gaming, representing approximately 21.08% of the issued and outstanding Common Shares on a partially diluted basis.

Immediately following the completion of the internal Reorganization and assuming conversion in full of the 42,504,187 Warrants, Beedie Capital, indirectly through Beedie Capital Investments, would continue to own or control a total of 42,504,187 Common Shares, representing approximately 21.08% of the issued and outstanding Common Shares on a partially diluted basis.

All of the securities held by Beedie Capital in Enthusiast Gaming, including the Warrants, are being held for investment purposes. Beedie Capital may in the future take such actions in respect of its Enthusiast Gaming securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of Integra through open market purchases or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation, involving Enthusiast Gaming, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Beedie Capital may continue to hold its current positions.

A copy of the early warning report relating to the Warrants will be available under Enthusiast Gaming's profile on SEDAR+ at www.sedarplus.ca, and may also be obtained by contacting Beedie Investments Ltd. at 604-435-3321. Beedie Capital's head office is located at Suite 900 - 1111 West Georgia St. Vancouver, BC V6E 4M3.

Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278972

FAQ

What did Beedie Investments announce on December 23, 2025 regarding EGLXF holdings?

Beedie completed an internal reorganization moving 42,504,187 Enthusiast Gaming warrants into subsidiaries, preserving a ~21.08% partially diluted stake.

How many Enthusiast Gaming warrants does Beedie hold under EGLXF after the reorganization?

Beedie holds 42,504,187 common share purchase warrants, assumed convertible to the same number of common shares.

What percentage of Enthusiast Gaming does Beedie control on a partially diluted basis (EGLXF)?

Assuming full conversion of the warrants, Beedie would control approximately 21.08% of issued and outstanding common shares on a partially diluted basis.

Were the transferred Enthusiast Gaming securities revalued during the EGLXF reorganization?

No; the transferred securities were valued at their original acquisition cost as part of the reorganization.

Will Beedie (EGLXF) buy or sell Enthusiast Gaming shares after the reorganization?

Beedie stated it may buy additional shares or sell all or a portion of its holdings in the open market or via private transactions depending on market circumstances.

Where can investors find Beedie’s early warning report for EGLXF warrants?

A copy of the early warning report will be available under Enthusiast Gaming’s profile on SEDAR+ or by contacting Beedie Investments Ltd. at the provided phone number.