The $400,000 loan is funded by two accredited investors and will be used to purchase 80 PCs.
Boca Raton, Florida, Nov. 19, 2021 (GLOBE NEWSWIRE) — Simplicity Esports and Gaming Company (OTCQB:WINR) (“Simplicity Esports”) announced that it has signed an equipment loan that will be used to purchase 80 new PCs. The loan is secured by the PCs, has a 10% interest rate, and is payable in 60 monthly installments of principal and interest.
Roman Franklin, CEO of Simplicity Esports, stated, “I am thrilled to continue upgrading our existing gaming stations across our footprint of esports gaming centers. NVIDIA 3090 graphics cards provide a best in class gaming experience for our customers, and are highly effective for mining cryptocurrencies, such as Ethereum. Based on current prices of Ethereum, the 3090’s should generate over $20,000 per month in gross revenue. We intend to continue upgrading the existing 450 gaming systems in our corporate owned gaming centers that currently include Xbox consoles, and PCs with 1660 Super, 2060, 2060 Super, and 2080 graphics cards.”
Simplicity Esports intends to list its common stock and warrants on The NASDAQ Capital Market. There is no guarantee that the open listing application will be approved by The Nasdaq Capital Market.
About Simplicity Esports and Gaming Company:
Simplicity Esports and Gaming Company (WINR) owns 17 esports gaming centers, and is the franchisor for 16 esports gaming centers that give the public an opportunity to experience gaming and esports in competitive and casual social settings, regardless of skill or experience. Simplicity Esports also owns a Riot Games League of Legends franchise and top Brazilian esports organization, Flamengo Esports. Simplicity and Flamengo branded teams compete in popular games such as League of Legends®, FreeFire®, Wild Rift®, and Heroes of the Storm®. Simplicity Esports is also in the process of designing, minting, and selling non-fungible tokens (NFTs) for the esports and gaming industries. Simplicity Esports also organizes and hosts various in-person events and play from home, online tournaments.
FreeFire®, Heroes of the Storm®, League of Legends®, and Wild Rift® are registered trademarks of their respective owners.
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’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2021 and our subsequent SEC filings, as amended or updated from time to time. Copies of Simplicity Esports’ filings with the SEC 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.
Simplicity Esports Contact:
Chief Executive Officer