Cease Trade Order Issued for TGS Esports Inc.

TGS Esports Inc. (" TGS " or the " Company ") (TSXV: TGS) (OTCQB: TGSEF) (FRA: 5RH) announces that the British Columbia Securities Commission (the " BCSC ") has issued a Cease Trade Order (the " CTO ") as a result of the Company's failure to file its audited financial statements for its year ended June 30, 2021 and related management's discussion and analysis (collectively, the " Annual Filings ") by October 28, 2021 being the date that such filings were due under applicable Canadians securities law requirements.

TGS Esports Inc (CNW Group/TGS Esports Inc)

The cause of the delay is not material to the Company or its operations and is primarily due to the accounting treatment of the previously announced acquisitions of Pepper Esports, Volcanic Media, Even Matchup Gaming, and strategic investment in Mountain Side Games.

Revocation of the CTO is expected to occur shortly after the filing of the required Annual Filings, at which time TGS's common shares will resume trading on the TSX Venture Exchange.

A copy of the Order has been posted on the BCSC's website at: https://www.bcsc.bc.ca/enforcement/early-intervention/cease-trade-orders .

About TGS Esports Inc.

TGS partners with Fortune 500 brands, schools, and tournament organizers to build out their esports community via tournaments, broadcast production, and events. TGS has commercialized an esports solution that allows brands and gamers to interact on its end to end platform. The combination of TGS esports event expertise and next generation software creates an unparalleled esports experience that allows sponsors and brands to reach their desired gaming demographic.

On behalf of the Board of Directors
Spiro Khouri , CEO
TGS Esports Inc.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include the following: the anticipated timing for filing the Annual Filings; the anticipated timing of the BCSC's review in with respect to the revocation of the CTO; the anticipated timing of the revocation of the CTO; the unknown magnitude and duration of the effects of the COVID-19 pandemic on the Company and other risks that are customary to reviews of this nature. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.

Neither 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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cease-trade-order-issued-for-tgs-esports-inc-301416156.html

SOURCE TGS Esports Inc

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/November2021/04/c1283.html

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
NorthStar Gaming Chairman and CEO Michael Moskowitz.

NorthStar Gaming Leverages Content to Create Engaged, Active Players, CEO Says

NorthStar Gaming (TSXV:BET,OTCQB:NSBBF) is leveraging its rich, “compelling” content to better engage its customers, which ultimately leads to higher revenue, said the company’s chairman and CEO, Michael Moskowitz, following an earlier announcement that the company is rolling out enhancements to the Sports Insights content on its platform.

“From the time that we founded NorthStar Gaming, we took the view that providing compelling content would lead to higher engagement with our customers. And we're finding just that. We're planning to launch Sports Insights 2.0 in the first half of 2024 with redesigned sports and homepages, live scoreboards and tickers, live odds, trending topics and a greater tie in terms of the player journey and promotional offers that we provide to them,” he said.

Moskowitz noted that leveraging content helps attract new customers, with several media organizations using the company’s content on their own sites. “Ultimately, these articles and this content will help to create awareness around the NorthStar Bets brand and platform, and ultimately drive traffic to our site, which will convert into revenue.”

Keep reading...Show less
hand touching phone

Game-changing Prospects for the iGaming Market

iGaming has grown considerably in recent years. Driven by innovations in web technology and a changing regulatory landscape, online casinos and sportsbooks are more popular than ever.

To understand how the landscape may change moving forward, investors should assess how the industry has evolved in recent years.

Keep reading...Show less
smartphone on podium

Top Trends Shaping the Canadian iGaming Market

From emerging technologies to evolving regulations, the trajectory of iGaming has changed substantially in recent years as the market has experienced significant growth.

In 2022, Ontario's provincial government introduced game-changing legislation that established a regulatory framework for iGaming. Due to this legislation, regulated iGaming successfully displaced the unregulated market, according to Attorney General Doug Downey, creating over 1.6 million active player accounts across more than 70 operator websites as of April 2023 — just over one year following the change.

Ontario's regulation has also laid the groundwork for widespread change in the iGaming space across Canada. As iGaming continues to evolve, it's important to have a deeper understanding of both new and existing trends that will shape the industry's future, as well as regulations.

Keep reading...Show less
NorthStar Gaming Holdings

NorthStar Gaming Holdings


Keep reading...Show less
NorthStar Gaming Announces New Partnership Agreement with BettorView

NorthStar Gaming Announces New Partnership Agreement with BettorView

Partnership strategically positions NorthStar to reach consumers in restaurants and bars across Ontario

NorthStar Gaming Inc. (TSXV: BET) is proud to announce it has entered a partnership agreement with BettorView that will enable NorthStar to engage with consumers in restaurants and bars across Ontario. The partnership provides NorthStar with the opportunity to further expand player acquisition across both sports wagering and online casino in a frictionless and convenient manner.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×