TORONTO, April 23, 2018 (GLOBE NEWSWIRE) -- Millennial Esports Corp. ("Millennial" or the "Company") (TSX VENTURE:GAME)(OTCQB:MLLLF), a mobile video game publisher focused on Esports and Racing, is pleased to announce that the Company has entered into an agreement for a US$10 million revolving multi-draw credit facility (“Credit Facility”) with Eastmore Global Ltd., with the initial drawdown under the facility being US$1,100,000.
Credit Facility Details
Millennial noted the new Credit Facility will be available to the Company on agreed upon terms including, but not limited to, the following:
Broadening Institutional Interest and Share Consolidation Strategy Update
The Company also noted that its strategy with respect to any potential future stock consolidation is to optimize the balance of its share price and number of shares outstanding to enable a broad range of investors and new institutions to acquire the company’s shares. While it has submitted a proposal to shareholders for such flexibility, the Company reiterated it has no present intention to undertake a stock consolidation.
About Millennial Esports Corp.
Millennial Esports Corp. (MEC) is a vertically integrated mobile gaming publisher leading a revolution to fuse esports racing and professional motorsport through a global competition model. MEC is utilizing its gaming franchises and intellectual property (IP) to engage millions of new players. Combined with its virtual and live tournament platforms, gaming analytics capability, and motorsport IP - including World’s Fastest Gamer - MEC is uniquely positioned to become the market leader in Esport Racing.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Director, Communication Strategy
CEO and Director