10:23:17 EDT Sun 12 May 2024
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East Side Games Group Inc
Symbol EAGR
Shares Issued 81,536,394
Close 2023-08-24 C$ 0.48
Market Cap C$ 39,137,469
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East Side Games Group reduces staff by 20%

2023-08-24 16:19 ET - News Release

Mr. Jason Bailey reports

ESGG ANNOUNCES RESTRUCTURING TO LEANER AND MORE ADAPTABLE ORGANIZATION

East Side Games Group Inc. has unveiled a strategic restructuring plan aimed at realigning the company's priorities to ensure a more robust and successful future.

In an effort to evolve and adapt to a changing mobile game landscape, East Side Games Group is implementing a series of strategic shifts to bolster its position in the market. This realignment is designed to transform East Side Games Group into a leaner, stronger and more focused company, well equipped to tackle the challenges and opportunities that lie ahead. The restructuring has resulted in a reduction of 20 per cent of the studio's work force unrelated to the continuing core business of East Side Games Group.

"We firmly believe that the steps we are taking now are crucial for the long-term success of ESGG. While this decision was not made lightly, it is a necessary one as we work to create a leaner and more adaptable organization," said Jason Bailey, chief executive officer of East Side Games Group.

ESGG is grateful for the continued support of its stakeholders and partners as it embarks on this transformative journey. The company remains dedicated to its mission of delivering engaging games in the mobile game sector.

About East Side Games Group Inc.

East Side Games Group (formerly operating under the name Leaf Mobile Inc.) is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. The company's studio groups' entrepreneurial culture is anchored in creativity, execution and growth through licensing of the company's proprietary Game Kit software platform, which enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP (intellectual property) mobile games that include Bud Farm Idle Tycoon, Cheech & Chong Bud Farm, Trailer Park Boys Grea$y Money, RuPaul's Drag Race Superstar, The Office: Somehow We Manage, Star Trek: Lower Decks -- The Badgey Directive, and Doctor Who: Lost in Time.

East Side Games Group is headquartered in Vancouver, Canada, and its games are available around the world on the App Store and Google Play.

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