Enthusiast Gaming Announces it Has Received a Commitment of $5.0 Million for Convertible Debenture Units
TORONTO, Oct. 24, 2018 (GLOBE NEWSWIRE) — Enthusiast Gaming Holdings Inc. (“Enthusiast” or the “Company”) (TSXV: EGLX), a digital media company building the largest community of authentic gamers, is pleased to announce a non-brokered private placement of convertible debenture units (the “Units”) for total gross proceeds of $5 million (the “Offering”). In connection with the Offering, the Company has received a commitment for the full amount of $5 million. Canaccord Genuity Corp. (“Canaccord Genuity”) is acting as advisors to the Company with respect to the Offering. The net proceeds from the Offering are anticipated to be used for working capital purposes, general corporate purposes, and potential acquisitions.