Simplicity Esports and Gaming Company Announces Retirement of 2,603,343 Shares of Common Stock

Boca Raton, Florida, June 11, 2019 (GLOBE NEWSWIRE) -- Simplicity Esports and Gaming Company (OTCQB: WINR) (“Simplicity Esports”), announced it has retired 2,000,000 shares of common stock which were issued to the founder of Smaaash Entertainment Private Ltd (“Smaaash”), but held in escrow, pending an exchange of Simplicity Esports’ shares for a larger equity stake in Smaaash. Although Simplicity Esports did not increase its equity ownership in Smaaash via completion of the share exchange, Simplicity Esports still owns 294,360 shares of Smaaash. Additionally, Simplicity Esports also retired 603,343 shares from treasury that were acquired as part of a forward purchase agreement with two institutional investors from the 2017 initial public offering.

For parties interested in pursuing a Smaaash franchise in North America, please contact Simplicity Esports using the number below.

About Simplicity Esports and Gaming Company:

Simplicity Esports and Gaming Company (OTCQB: WINR) is an established brand in the esports industry with an engaged fan base competing in popular games across different genres, including Apex Legends, PUBG, Gears of War, Smite, and multiple EA Sports titles. Additionally, the Simplicity Esports stream team encompasses a unique group of casters, influencers, and personalities, all of whom connect to Simplicity Esports’ dedicated fan base. Simplicity Esports also operates esports gaming centers that provide the public an opportunity to experience and enjoy gaming and esports in a social setting, regardless of skill or experience.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,”. Forward-looking statements are subject to numerous conditions, many of which are beyond Simplicity Esports’ control, including those set forth in the Risk Factors section of Simplicity Esports’ definitive proxy statement filed with the Securities and Exchange Commission (the “SEC”) on September 19, 2018, as the same may be amended or updated from time to time, including in Simplicity Esports’ Quarterly Report on Form 10-Q for the quarter ended February 28, 2019, as filed with the SEC on April 15, 2019. Copies are available on the SEC’s website at www.sec.gov. Simplicity Esports undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

CONTACT:

Simplicity Esports and Gaming Company

Roman Franklin

Roman@SimplicityEsports.com

561-819-8586

Source: Simplicity Esports and Gaming Company