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Millennial Esports Corp
Symbol GAME
Shares Issued 144,558,317
Close 2018-05-22 C$ 0.175
Market Cap C$ 25,297,705
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Millennial Esports talks up U.S. gambling ruling

2018-05-22 13:34 ET - News Release

Mr. Alex Igelman reports

MILLENNIAL ESPORTS GENERATING STRONG INTEREST IN ESPORTS RACING WITH GLOBAL COMPETITION MODEL

Millennial Esports Corp. has provided a corporate update covering the progress being made in growing the Gear.Club user base through global competitions, as well as potential opportunities to leverage the company's non-racing assets following the U.S. Supreme Court's decision to strike down the Professional and Amateur Sports Protection Act (PASPA). With interest in and downloads of Gear.Club growing in response to initiatives such as the recently completed DriveAnF1Car competition and the PASPA ruling making possible new applications for Millennial Esports' tournament platform, the company is currently pursuing strategic growth on multiple fronts.

"Right now is a transformative time for the company. Racing as an e-sport is a proven winner that is a perfect fit for a competition model and is loved by gamers and sponsors alike for its ability to provide thrills without violence," said Alex Igelman, chief executive officer of Millennial Esports. "Our Gear.Club mobile game continues to perform in line with expectations as we perfect our marketing, while our Eden Games division is on track developing world-class mobile titles for major brands as well as for ourselves. Strategically we are in a good position as the other assets we have built over the years are more valuable today after PASPA and we are looking at strategic alternatives that are focused on our pioneering presence in Las Vegas, Nev., the entertainment capital of the world."

Gamers chase the chance to drive an F1 car with Gear.Club

Thousands of gamers recently chased their dream of driving a Formula 1 car thanks to leading mobile racing game, Gear.Club. The game's DriveAnF1Car e-sports promotion was covered extensively across social media and even had its own feature on Sky News in the United Kingdom.

The top six gamers from the virtual competition will now head to the United Kingdom, where they will compete head-to-head in real racing cars for the chance to drive a Formula 1 car. The six winners will join Instagram and YouTube star Yannimize (also known as Yianni Charalambous), who recently won Gear.Club's social media influencer competition and told his 1.2 million followers all about it.

"Anybody can build a mobile racing game but few can build a great mobile racing game," said Mr. Igelman in discussing the growing popularity of Gear.Club amongst influencers and regular gamers alike. "The team at Eden Games has been building great games for 20 years and that experience shows in Gear.Club's cutting-edge graphics, realistic racing simulation and fully immersive environment."

Gamers from 158 countries competed in the Gear.Club DriveAnF1Car competition, completing a total of 128,394 virtual laps for the chance to graduate to the Bedford finals. The winner of the Bedford competition, along with Mr. Charalambous, the YouTube star, will drive a Williams FW33 F1 car in a once-in-a-lifetime experience held at Circuit Magny Cours -- the former home of the French Grand Prix.

"To be able to go from the couch to the cockpit of a Formula 1 car by playing Gear.Club on your phone is an incredible opportunity," said Darren Cox, chief marketing officer of Millennial Esports. "It is all part of our mission to provide gamers with the ultimate driving experience in both the virtual and real worlds."

Millennial Esports tournament platform offers proven value post-PASPA

In response to the Supreme Court's recent decision to strike down PAPSA, thereby giving individual states the right to legislate sports wagering, Millennial Esports is exploring possible new applications for the company's competitive tournament platform. As part of a repositioning of its assets in relation to the company's focus on e-sports racing, Millennial is also exploring strategic options for joint ventures, as well as sales and licencing opportunities, for the tournament platform and the arena, the firm's purpose-built Las Vegas e-sports arena.

"In order to allow us to be completely focused on e-sports racing moving forward, we are conducting a strategic review to extract value from our non-core assets that we have developed, updated and maintained over the years," said Mr. Igelman. "In light of the recent PASPA ruling we feel our proprietary tournament platform in particular possesses significant intrinsic value."

Having operated the tournament platform for close to five years, the company is confident it can be used by licensed operators or governments to offer their network the ability to play e-sports and other games that include the option to wager money against each other in many different formats, such as head to head, team versus team and ladders/tournaments. In addressing concerns that have been raised by some legislators regarding e-sports' susceptibility to manipulation, the company is now taking counsel from its blockchain advisory board as to how to best utilize blockchain technology to overcome issues facing regulators such as cheating, collusion and match fixing, with the aim of using blockchain innovation to maximize the value of the tournament platform.

About Millennial Esports Corp.

Millennial Esports is a vertically integrated mobile gaming publisher leading a revolution to fuse e-sports racing and professional motorsport through a global competition model. The company is utilizing its gaming franchises and intellectual property 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 -- Millennial Esports is uniquely positioned to become the market leader in e-sport racing.

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