TORONTO, ON, July 23, 2020 – Torque Esports Corp. (TSX-V: GAME) (OTCQB: MLLLF) (“Torque” or the “Company”) has received approval from the TSX Venture Exchange (“TSXV”) to recommence trading effective July 27, 2020.
On June 22, 2020, the Ontario Securities Commission (the “OSC”) issued a cease trade order (the “CTO”) against the Company for failure to file certain continuous disclosure documents. Subsequently, on June 23, 2020 the TSXV suspended trading of the Company’s shares. The Company is pleased to report that the CTO was revoked by the OSC on July 10, 2020, upon the Company having filed all outstanding documents.
Results of Annual and Special Shareholders Meeting
At an annual and special meeting of shareholders held on July 15, 2020 (the “Meeting”), Torque’s shareholders elected Tom Rogers, Lou Schwartz, Darren Cox, Steven Zenz, Hank Ratner, Bryan Reyhani and Peter Liabotis, as directors of Torque.
“We are especially excited with the latest addition to the Torque team, Hank Ratner,” said Torque Executive Chairman, Tom Rogers.
“Hank brings a wealth of sports, content, distribution and entertainment experience from his prior roles as President and CEO of The Madison Square Garden Company, Vice-Chairman of Cablevision, and COO of AMC Networks, and his guidance will be invaluable as Torque expands its footprint in the sports and esports sectors.”
At the Meeting, Torque’s shareholders also approved resolutions
(i) ratifying and confirming the Company’s Omnibus Incentive Plan,
(ii) approving a change of corporate name from “Torque Esports Corp.” to ” Engine Media Holdings, Inc.” or such other name as may be selected by the Board of Directors of the Company in its discretion;
(iii) authorizing an amendment to the articles of the Company so as to, if deemed advisable by the Board of Directors of the Company, consolidate the issued and outstanding common shares of the Company on the basis of one common share for a maximum of every fifteen (15) common shares issued and outstanding;
(iv) approving the continuance of the Company from Ontario to British Columbia; and
(v) appointing UHY McGovern Hurley LLP, Chartered Accountants, as auditors of the Company, the whole as outlined in Torque’s management information circular dated June 15, 2020.
About Torque Esports
Torque is focused on accelerating new, live, immersive esports and interactive gaming experiences for consumers through its partnerships with traditional and emerging media companies and providing online interactive technology platforms and monetization services. To date, Torque’s combined companies have clients comprising more than 1,200 television, print and radio brands including CNN, ESPN, Discovery / Eurosport, Fox, Vice, Newsweek and Cumulus; dozens of gaming and technology companies including EA, Activision, Blizzard, Take2Interactive, Microsoft, Google, Twitch and Ubisoft; and have connectivity into hundreds of millions of homes around the world through their content, distribution and technology.
Torque Esports brands and businesses include UMG, Stream Hatchet, Eden Games, IDEAS + CARS, The-Race.com, WTF1, and Allinsports - for more information visit: www.enginegaming.com; Frankly and its wholly-owned subsidiary Frankly Media LLC, which provides a complete suite of online content and monetization solutions - for more information visit: www.franklymedia.com; and WinView, Inc., a Silicon Valley-based company, a pioneer in mobile gaming and interactive second screen viewing and the owner of a portfolio of foundational patents in the field of interactive media - for more information visit: www.winview.tv.
For more information, visit www.enginegaming.com
Cautionary Statement on Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (together, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information contained in this news release include, but are not limited to, statements relating to the Torque’s filing of a listing application with NASDAQ and its plans to file a Form 40-F with the United States Securities and Exchange Commission and any regulatory or other approvals required in connection therewith, Torque’s expectations for growth in its operations and business and Torque’s plans for submission of resolutions for shareholder approval. In respect of the forward-looking information contained herein, Torque has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time, including assumptions as to obtaining required regulatory approvals. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.
The forward-looking information contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Torque does not assume any obligation to update or revise any forward-looking information, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.