VANCOUVER, BC, March 2, 2021 /CNW/ - TGS Esports Inc.
("TGS" or the "Company") (TSXV: TGS) (FRA: 5RH) a
company that partners with Fortune 500 brands, schools, and
tournament organizers to build out their esports community via
tournaments, broadcast production and events, is pleased to provide
the following corporate update alongside the release of its Q2
financials:
- The company generated $150,876 in
revenue between October and December
2020 with a gross margin of 81%.
- TGS completed a strategic $2,000,000 financing, which was upsized due to
strong investor demand. The funds will be used to accelerate growth
in 2021.
- TGS has hired Gopal Patel, who
previously worked with Canucks Sports and Entertainment, to develop
the companies' sales strategies in the traditional sports and
sponsorship market.
- TGS has significantly grown its white-label and sponsorship
business and is working with companies including Shaw, Telcel,
Norquest College, Monstercat, Ubisoft, HyperX, and Redbull,
interacting with over 25,000 players in over 40 events in the last
three months.
- TGS completed the acquisition of Pepper Esports, a next
generation esports platform that makes it possible to create and
manage player communities, spectators, sponsors, and brands—all in
one place.
- TGS completed the acquisition of Volcanic Media, a company at
the forefront of scholastic esports in Canada which has created an inter-district
high school esports league and scholarship program for players
within the league—both firsts of their kind in Canada.
- TGS completed a strategic investment in Mountainside Games, a
BC based organization that focuses on tournaments and content
within the Super Smash Bros community. MSG creates unique Super
Smash Bros content including Smash Talk, an online show available
via YouTube.
TGS continues to build a business leadership role in esports
with the strategic acquisitions of Pepper Esports and Volcanic
Media. With the completion of TGS's $2,000,000 financing and the growth of the sales
team, the company is aggressively executing on its sales strategy
to help Fortune 500 brands expand their reach into the 18-34 year
old esports audience by providing them with world class esports
experiences.
"COVID has forced many large brands to rethink their digital
strategies, and esports events are fast becoming one of the most
desirable ways for Fortune 500 brands to engage with new
audiences." said Spiro Khouri, CEO
of TGS. "We are seeing an incredible growth in demand for custom
tailored esports experiences from these brands, and we are uniquely
positioned to service this multibillion-dollar market."
TGS is also pleased to announce a new investor focused website,
http://investtgs.com, which will provide investors with the latest
news and information about the company.
The company has hired Gopal Patel
as VP of Business Development and Strategy. Gopal has over a decade
of experience developing strategic partnerships for some of
Canada's top organizations,
including MLSE (Toronto Maple Leafs, Toronto Raptors, Toronto FC)
and most recently Canucks Sports and Entertainment, where he lead
partnerships for the Vancouver Canucks and then Esports and Gaming,
specifically the Vancouver Titans and the Seattle Surge. He has
built partnerships with over 150 of North
America's top brands, for 12 properties, across 10 sports
and gaming leagues.
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"
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,
including with respect to: the use of the proceeds of the Offering
and resale restrictions on securities issued pursuant to the
Offering. 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: that the proceeds of the Offering may
be used for purposes other than those stated herein and the unknown
magnitude and duration of the effects of the COVID-19 pandemic on
the Company and other risks that are customary to transactions 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.
SOURCE TGS Esports Inc
