ESE Entertainment Announces Grant of Options

Rhea-AI Summary

ESE Entertainment (TSXV: ESE, OTCQB: ENTEF) has announced the grant of 250,000 stock options to director Ryan Vaupshas. The options allow for the purchase of up to 250,000 common shares at $0.07 per share, exercisable for three years from the grant date. The Options Grant requires TSX Venture Exchange approval and constitutes a related party transaction under MI 61-101, with the company utilizing exemptions from valuation and minority shareholder approval requirements.

Positive

• None.

Negative

• Potential dilution of shareholder value through 250,000 new stock options
• Low strike price of $0.07 per share indicates potential market weakness

VANCOUVER, BC, Feb. 6, 2025 /PRNewswire/ - ESE Entertainment Inc. (TSXV: ESE) (OTCQB: ENTEF) ("ESE" or the "Company") announces that, under its equity incentive plan, the Company has granted (the "Options Grant") 250,000 stock options (the "Options") to Ryan Vaupshas, a director of the Company, to purchase up to 250,000 common shares of the Company. Each Option is exercisable for three years from the date of grant at $0.07 per common share. The Options Grant is subject to the approval of the TSX Venture Exchange.

The Options Grant constitutes a related party transaction, as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), and the Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101, contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of the Options Grant.

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

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.

View original content:https://www.prnewswire.com/news-releases/ese-entertainment-announces-grant-of-options-302370602.html

SOURCE ESE Entertainment Inc.

FAQ

How many stock options did ESE Entertainment (ENTEF) grant in February 2024?

ESE Entertainment granted 250,000 stock options to director Ryan Vaupshas in February 2024.

What is the exercise price for ESE Entertainment's (ENTEF) February 2024 stock options?

The stock options have an exercise price of $0.07 per common share.

How long are ESE Entertainment's (ENTEF) February 2024 stock options valid?

The stock options are exercisable for three years from the date of grant.

Does ESE Entertainment's (ENTEF) stock option grant require regulatory approval?

Yes, the Options Grant is subject to TSX Venture Exchange approval.