Enthusiast Gaming Continues to Strengthen Balance Sheet Through C$6.8 Million Sale of Select Legacy Assets [Financial Post (Toronto, Ontario, Canada)]
Enthusiast Gaming Holdings Inc. (EGLX)
Company Research
Source: Financial Post
LOS ANGELES, Sept. 29, 2022 (GLOBE NEWSWIRE) — Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (NASDAQ:EGLX; TSX:EGLX), an integrated gaming entertainment company, today announced the sale of certain video game editorial websites (the “Website Assets”) for a purchase price of approximately C$6.8 million, representing a multiple of approximately 4.5x associated revenue. Between the sale and the Company's expanded credit facility announced on September 19, 2022, the Company has bolstered its balance sheet with over C$16.8 million of non-dilutive capital in recent weeks while reducing operating costs in the business. About Enthusiast Gaming Contacts Enthusiast Gaming Investor Relations: Eric Bernofsky, Chief Corporate Officer investor@enthusiastgaming.com Forward-Looking Statements Forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditio
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