Enthusiast Gaming

Canaccord Genuity Acts as Financial Advisor to Enthusiast Gaming on its C$20 Million Term Loan

Canaccord Genuity is pleased to announce that on July 12, 2024, its client Enthusiast Gaming Holdings Inc. ("Enthusiast Gaming" or the "Company") (TSX:EGLX) closed on a C$20 million, four-year non-revolving term loan (“Term Loan”) with lenders led by Beedie Investments Ltd. The Term Loan bears a fixed rate of 14.0% per annum calculated and payable monthly in arrears. In connection with the Term Loan, the Company announced the issuance of 37 million common share purchase warrants at an exercise price of $0.135, representing a 15.0% premium to the five consecutive trading day volume-weighted average price.

Proceeds from the Term Loan will be used by Enthusiast Gaming for growth capital and working capital purposes.

Enthusiast Gaming is a leading gaming media and entertainment company, building the largest platform for video game enthusiasts and esports fans to connect and compete worldwide. Combining the elements of its five core pillars: creators, content, communities, games, and experiences, Enthusiast Gaming provides a unique opportunity for marketers to create integrated brand solutions to connect with coveted Gen Z and Millennial audiences. Through its proprietary mix of digital media, content and gaming assets, Enthusiast Gaming continues to grow its network of communities, reflecting the scale and diversity of gaming enthusiasts today.

Since 2018, Canaccord Genuity has advised the Company on 12 completed transactions, spanning an extensive range of advisory and capital market mandates including two acquisitions, four equity raises, two debt raises, a TSX and Nasdaq IPO and a hostile defense, showcasing the wide range of expertise we bring as a firm and long-lasting relationships we build with our clients.