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New Wave Esports Announces Closing of Talon Investment

TORONTO , Dec. 4, 2019 /CNW/ - NEW WAVE ESPORTS CORP. (the "Company") (NWES.CN), is pleased to announce that it has completed its previously announced strategic investment (the "Investment") in Talon Esports Limited ("Talon").

The Investment involved the purchase of 681,818 common shares in the capital of Talon (the "Talon Shares") at a price of US$0.44 per Talon Share , for an aggregate investment amount of US$300,000 , which represents approximately 6.5% of issued and outstanding Talon Shares, on an undiluted basis.   The Talon Shares form a portion of the overall holdings of the Company in Talon, in addition to 681,818 incentive options for advisory services exercisable into Talon Shares at an exercise price of US$0.44 per Talon Share until May 13, 2021 .

For additional information with respect to each of the Investment and the business of Talon, please refer to the Company's news release dated November 18, 2019 .

SOURCE New Wave Esports


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