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Enthusiast Gaming $EGLX.ca Announces Merger With #Aquilini GameCo and #Luminosity to Form Global Esports and Gaming Leader $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

Posted by AGORACOM-JC at 10:03 AM on Friday, May 31st, 2019
  • Combination to create leading publicly traded esports and gaming organization with $22 million in pro forma revenue and $36 million in cash on closing of the merger, with combined global audience reach of approximately 200 million
  • Merged assets and reach to include seven esports teams (including management of the Vancouver Titans Overwatch League franchise), 40 esports influencers, 80+ gaming media websites, 900+ YouTube and Twitch channels
  • Enthusiast Gaming’s extensive media network and gamer data, combined with Luminosity’s championship calibre teams and brand equity, expected to drive further audience growth 
  • Strategically positioned to leverage Luminosity’s robust esports brand and its audience through Enthusiast Gaming’s monetization and ad tech platform

TORONTO, May 31, 2019 (GLOBE NEWSWIRE) — Enthusiast Gaming Holdings Inc. (TSXV: EGLX) (“Enthusiast Gaming” or the “Company”) is pleased to announce that it has entered into an arrangement agreement (the “Arrangement Agreement”) dated May 30, 2019 with J55 Capital Corp. (TSXV: FIVE) (“J55”) and Aquilini GameCo Inc. (“GameCo”), a private Canadian company to form the leading publicly traded esports and gaming media organization in North America.

Menashe Kestenbaum, CEO of Enthusiast Gaming commented, “Our vision has always been to build the largest, vertically integrated esports and gaming company in the world. The merger with Aquilini GameCo and Luminosity was a strategic decision that positions us as a dominant player in the gaming industry and unlocks access to Luminosity’s 50 million dedicated esports fans and one of the largest esports franchises. Through our successful monetization strategy, we will gain extremely valuable knowledge and information on the demographic that will revolutionize the advertising opportunities we can offer to brands and sponsors.” 

The Transaction

Under a court approved arrangement (the “Arrangement”), J55 will acquire all of the outstanding common shares of Enthusiast Gaming (the “Enthusiast Common Shares”) in exchange for common shares of J55 (the “J55 Common Shares”) on the basis of 4.22 (post consolidation) J55 Common Shares for each one Enthusiast Gaming Common Share (the “Exchange Ratio”). 

The Arrangement constitutes a merger of Enthusiast Gaming and J55 on a fully diluted basis, after giving effect to the transactions described below.

Immediately prior to the completion of the Arrangement, J55 will complete the acquisition of GameCo (the “GameCo Transaction”). The GameCo Transaction will be completed pursuant to the terms and conditions of an amalgamation agreement (the “Amalgamation Agreement”) between J55 and GameCo, pursuant to which immediately prior to the completion of the Arrangement, J55 will acquire all of the outstanding securities of GameCo which shall constitute J55’s Qualifying Transaction (as defined in the policies of the TSXV). On closing of the Qualifying Transaction, all of the issued and outstanding securities of GameCo will be exchanged for corresponding securities of J55 as follows:

  • each of the common shares of GameCo (the “GameCo Shares”) will be cancelled and, in consideration therefor, each GameCo shareholder will receive one (post consolidation) J55 Share at a deemed price of $0.30 per J55 Share for each one GameCo Share held;
     
  • each of the warrants to purchase GameCo Shares (the “GameCo Warrants”) will be exchanged for warrants to purchase the corresponding number of (post consolidation) J55 Shares on the same terms as those contained in the GameCo Warrants, and each such GameCo Warrant shall be cancelled; and
     
  • each of the options to purchase GameCo Shares (the “GameCo Options”) will be exchanged for options to purchase the corresponding number of (post consolidation) J55 Shares on the same terms as those contained in the GameCo Options, and each such GameCo Option shall be cancelled.

In connection with closing of the GameCo Transaction, J55 intends to consolidate its outstanding J55 Common Shares on the basis of 1.25 pre-consolidation shares for every one post-consolidation share prior to the completion of the GameCo Transaction.

The aggregate of approximately 324,357,495 (post consolidation) J55 Shares is expected to be issued at a deemed price of $0.30 per share pursuant to the GameCo Transaction. Further, J55 has agreed that, to satisfy an obligation of GameCo under an existing media services agreement and as such J55 will issue that number of J55 Shares as is equal to $59,063 at a price per J55 Share to be determined at a later date in accordance with said agreement. J55 intends to rely on Section 2.11 of National Instrument 45-106 – Prospectus Exemptions for an exemption from the prospectus requirements under applicable securities laws in connection with the issuance of the aforementioned securities.

The GameCo Transaction will be a Non-Arm’s Length Qualifying Transaction under the policies of the TSXV and a related party transaction for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) because J55 and GameCo have certain directors, officers and significant shareholders in common. As such, J55 is required to hold a shareholders’ meeting (the “J55 Meeting”) to obtain approval of the GameCo Transaction by the disinterested shareholders of J55. As of the date of this news release, the date for the J55 Meeting has not been established and the disinterested shareholder approval has not been obtained.

The directors, officers and significant shareholders which J55 and GameCo have in common are as follows: Francesco Aquilini is a director and significant shareholder of J55 and a director (and chairman of the board) and significant shareholder of GameCo; Adrian Montgomery is a director, officer and significant shareholder of both J55 and GameCo; and Roberto Aquilini is a significant shareholder of both J55 and GameCo. The interested directors, namely Francesco Aquilini and Adrian Montgomery, have abstained from voting on approval of the GameCo Transaction by the board of directors of J55, and the interested shareholders, namely Francesco Aquilini, Adrian Montgomery and Roberto Aquilini, will be excluded from voting on approval of the GameCo Transaction at the J55 Meeting. These interested shareholders collectively own approximately 63% of the issued and outstanding J55 Shares as follows: Francesco Aquilini – 4,001,000 shares (21.1%); Adrian Montgomery – 3,999,500 shares (21.1%); Roberto Aquilini – 3,999,500 shares (21.1%). The interested directors have also abstained from voting on approval of the GameCo Transaction by the board of directors of J55.

Pursuant to the Amalgamation Agreement, J55 and each of Francesco Aquilini, Adrian Montgomery, John Veltheer, Alexander Helmel, and Roberto Aquilini (the “Supporters”), have entered into support and voting agreements (the “Support Agreements”). The J55 Shares held by the Supporters collectively represent approximately 79% of the issued and outstanding J55 Shares. The Support Agreements provide that, among other things, the Supporters, in their capacity as J55 Shareholders, (i) will irrevocably support the GameCo Transaction, and, to the extent permitted by applicable laws, vote all of their J55 Shares in favour of the proposed J55 Shareholders’ resolution seeking approval of the GameCo Transaction (the “J55 QT Resolution”) and against any resolution submitted by any J55 Shareholder that is inconsistent with the J55 QT Resolution and (ii) will not sell, assign, transfer or otherwise convey any of the J55 Shares held by the Supporters other than pursuant to the GameCo Transaction.

Immediately prior to the closing of the GameCo Transaction, GameCo will complete its acquisition (the “Luminosity Acquisition”) of Luminosity Gaming Inc. (“Luminosity Canada”) and Luminosity Gaming (USA), LLC (“Luminosity USA”, which together with Luminosity Canada is herein referred to as “Luminosity Gaming” and together with J55 and GameCo, “Luminosity”). The Arrangement, the GameCo Transaction and the Luminosity Acquisition are collectively referred to in this press release as the “Transactions”.

Luminosity Gaming is a globally recognized esports organization operating in North America and based in Toronto, Canada. Luminosity Gaming provides management and support services to players involved in professional gaming and is also the manager of the Vancouver Titans franchise in the Overwatch League.  Upon closing of the GameCo Transaction, Luminosity Gaming intends to enter into a long-term management services agreement with the Vancouver Titans to continue management of the team, as well as a long term services support agreement with Vancouver Arena Limited Partnership (“VALP”) pursuant to which VALP will provide Luminosity Gaming with a broad range of marketing and business support services (as further described below).

Steve Maida, Founder and President of Luminosity Gaming commented, “We are incredibly excited about the merger with Enthusiast Gaming.  Pairing our collective following of over 50 million with their 150 million monthly visitors presents significant growth opportunities with respect to content, partnerships, advertising, events and more.”

The combined company that will result from the completion of the Transactions will be renamed “Enthusiast Gaming Holdings Inc.”. Subject to TSXV approval, the common shares of the combined company will trade on the TSXV, under the symbol “EGLX”.

The Arrangement is subject to receipt of various approvals including the approval of the Ontario Superior Court of Justice (Commercial List), the approval of the TSXV and Enthusiast Gaming and J55 shareholder approval, as well as the closing of the other Transactions and the satisfaction of certain other customary closing conditions. Closing of the Arrangement is expected to occur by the third quarter of 2019.

Transaction Highlights

The Arrangement is expected to provide significant strategic and financial benefits to Enthusiast Gaming including:

  1. Creates Leading, Diversified Gaming and Esports Organization: Management believes that the pro forma combined company will boast one of the largest media reach amongst gaming and esports organizations at approximately 200 million, across seven esports teams (including management of the Vancouver Titans Overwatch League franchise), 40 esports influencers, 80+ gaming media websites, 900+ YouTube and Twitch channels. The combined business generated pro forma revenue of $22 million and estimated $36 million in cash on closing of the merger.

  2. Strategically Positioned to Leverage Luminosity’s Robust esports brand: Through its monetization and ad tech platform, Enthusiast Gaming will utilize Luminosity and its significant reach in growing communities of like-minded fans, to produce engaging advertising experiences. Further, GameCo’s relationship with the NHL’s Vancouver Canucks and Rogers Arena, located in Vancouver Canada, will provide Enthusiast Gaming with access to new sponsors looking to reach the gaming and esports markets.
     
  3. Expected Margin Improvement: A combination of the net funds from the Private Placement (as discussed below) and cash-on-hand may be used to repay all or part of the Sims Resource Deferred Payment.  The Sims Resource Deferred Payment is approximately US$14.0 million and when fully repaid will add approximately US$2.5 million of EBITDA to the combined company, by reducing an expense allocation.

  4. Enhanced Capital Market Profile: The closing of the Transactions will create a leading publicly listed esports and gaming organization, as measured by revenue and market capitalization.  

Arrangement Summary

The Arrangement will be effected by way of a statutory plan of arrangement pursuant to the Business Corporations Act (Ontario) and will require the approval of (i) 66⅔% of the Enthusiast Gaming Common Shares cast at the annual and special meeting of Enthusiast Gaming shareholders (the “Enthusiast Meeting”), (ii) if required, a majority of the votes cast at the Enthusiast Meeting by Enthusiast Gaming shareholders excluding votes attached to Enthusiast Gaming Common Shares held by persons described in items (a) through (d) of section 8.1(2) of MI 61-101, and (iii) 50% +1 of the J55 Common Shares cast at the J55 Meeting. The directors and officers of Enthusiast Gaming who, in the aggregate, hold 13% of the outstanding Enthusiast Gaming Common Shares, have entered into voting and support agreements pursuant to which they have agreed to vote their Enthusiast Gaming Common Shares in favor of the proposed Arrangement. The directors, officers and significant shareholders of J55 who, in the aggregate, hold approximately 79% of the outstanding J55 Common Shares, have entered into voting and support agreements pursuant to which they have agreed to vote their J55 Common Shares in favor of the proposed Arrangement at the J55 Meeting.

A management information circular setting out the terms of the Arrangement, as well as further information regarding the Arrangement and the combined company, will be circulated to all Enthusiast Gaming shareholders in connection with the Enthusiast Meeting as soon as possible.  A management information circular setting out the terms of the GameCo Transaction and the Arrangement, as well as further information regarding the Transactions and the combined company, will be circulated to all J55 shareholders in connection with the J55 Meeting as soon as possible. Further details regarding the dates and locations of the Enthusiast Meeting and the J55 Meeting will be provided once determined.

The board of directors of Enthusiast Gaming has determined that the proposed Arrangement is in the best interests of Enthusiast Gaming shareholders, having taken into account advice from its financial advisors, and has unanimously approved the Arrangement and recommended that Enthusiast Gaming shareholders vote in favor of the Arrangement. The board of directors of Enthusiast received a fairness opinion from Haywood Securities Inc. to the effect that the consideration to be paid to the Enthusiast Gaming shareholders pursuant to the Arrangement is fair, from a financial point of view, to the Enthusiast Gaming shareholders.

In addition to shareholder approvals, the Arrangement will be subject to the completion of the GameCo Transaction and the Luminosity Acquisition and the satisfaction of other customary conditions. The Arrangement Agreement includes customary provisions, including covenants from Enthusiast Gaming to J55 not to solicit other acquisition proposals and the right for J55 to match any superior proposals. A customary termination fee may be payable by Enthusiast Gaming to J55 in certain circumstances.

Under the terms of the Transaction, Enthusiast Gaming shareholders will exchange each of their Enthusiast Gaming Common Shares for 4.22 (post consolidation) J55 Common Shares. Following the completion of the Arrangement, J55 will change its name to “Enthusiast Gaming Holdings Inc.” and will maintain its listing on the TSXV while the Enthusiast Gaming Common Shares will be delisted from the TSXV.  Holders of Enthusiast Gaming options, warrants and convertible debentures will continue to be entitled to exercise such convertible securities pursuant to the terms and conditions of their original certificates. Upon exercise of any such convertible securities, holders will be entitled to receive that number of J55 Common Shares they would have received had they exercised such securities immediately prior to the completion of the Arrangement.

Additional Information Regarding GameCo and Luminosity Gaming

On February 14, 2019, GameCo entered into a share purchase agreement (the “Luminosity SPA”) pursuant to which GameCo agreed to acquire Luminosity Gaming from its sole shareholder, Steve Maida, for consideration, including the payment of $1.5 million by GameCo to Mr. Maida and the issuance of 60 million GameCo common shares (at a deemed issued price of $0.30 per share) and the issuance of a $2.0 million unsecured promissory note, which is repayable immediately upon completion of the GameCo Transaction. As noted above, the Luminosity Acquisition is expected to close immediately prior to the completion of the GameCo Transaction and the Arrangement.

Luminosity Gaming is currently the manager of the Vancouver Titans, which was founded in 2018 and recently commenced its first season of competition in the Overwatch League, an esports competition with 20 teams across six countries and three continents, all centered on the popular first-person shooter game Overwatch. Upon closing of the GameCo Transaction, Luminosity Gaming intends to enter into a long-term management services agreement with the Vancouver Titans to continue management of the team, as well as a long term services support agreement with VALP pursuant to which VALP will provide Luminosity Gaming with a broad range of marketing and business support services, including corporate partnership and selling support, retail support, brand association and marketing support (to be provided by Canucks Sports and Entertainment), esports planning and execution, digital and social media support and back office support.

The following table provides select financial information for GameCo and Luminosity:

       
  GameCo
Aug 29, 2018* –
Dec 31, 2018
(Audited) 		 Luminosity
Year Ended
Dec 31, 2018
(Unaudited)		 
Total revenue$– $3,879,608 
Total assets$5,865,179 $869,764 
Total liabilities$421,538 $381,009 
Net income (loss)$(384,105)$425,964 

    *The date of incorporation of GameCo.

Management Team and Board of Directors

The senior management team and the board of directors of the combined company will draw from the extensive experience and expertise of both companies. The senior management will consist of:

Chief Executive Officer: Adrian Montgomery
President: Menashe Kestenbaum
President of Esports: Steve Maida
President of EGLive: Corey Mandell
Chief Operating Officer and SVP Finance: Eric Bernofsky
Chief Financial Officer: Alex Macdonald
Chief Information Officer: Meir Bulua

The board of directors of the combined company will initially consist of seven directors, including three nominees of Enthusiast including Menashe Kestenbaum and Alan Friedman and one to be named and three nominees of J55 including Francesco Aquilini, Adrian Montgomery and Steve Maida, and one independent nominee to be agreed upon by both Enthusiast and J55. Francesco Aquilini will serve as the Chair of the board.

Private Placement, Loan and Subscription Receipt Offering

Concurrent with the announcement of the Arrangement, GameCo has entered into a bought deal private placement agreement (the “Private Placement”) with a syndicate of underwriters (the “Underwriters”) led by Canaccord Genuity Corp. (“Canaccord”), whereby the Underwriters have agreed to purchase for resale to substituted purchasers $10.0 million of convertible debentures at par (the “Debentures”) of GameCo, which will effectively convert into J55 Common Shares at a (post consolidation) conversion price of $0.45 per J55 Common Share, for aggregate gross proceeds of $10.0 million (the “Private Placement”). The Debentures will have a maturity date of June 30, 2020 and will automatically convert into common shares of GameCo upon closing of the Arrangement. If the Debentures have not automatically converted to GameCo common shares by the maturity date, then the principal will be repayable on the maturity date as well as interest on the basis of 8.0% per annum. The net proceeds from the Private Placement will be used by GameCo to extend a $10.0 million bridge loan (the “Bridge Loan”) to Enthusiast Gaming which Enthusiast Gaming may use to repay all or part of certain amounts owed in connection with the acquisition of 100% of the assets of The Sims Resource (the “Sims Resource Deferred Payment”) and/or to fund working capital and/or other general corporate purposes. All principal and unpaid interest under the Bridge Loan will be due and payable by Enthusiast Gaming to GameCo on the earlier of (a) June 20, 2020, and (b) the closing of a change of control transaction (which includes the closing of the Arrangement).

On March 20, 2019, GameCo completed a $25,000,200 subscription receipt offering (the “Subscription Receipt Offering”) pursuant to which it issued an aggregate of 83,334,000 subscription receipts (each, a “Subscription Receipt”) at an issue price of $0.30 per Subscription Receipt. Canaccord served as the sole agent for the Subscription Receipt Offering. Each Subscription Receipt is automatically converted into one common share of GameCo for no additional consideration upon satisfaction of certain escrow release conditions (collectively, the “Escrow Release Conditions”), including: (a) the execution of a definitive agreement (the “GameCo Transaction Agreement”) between J55, a wholly-owned subsidiary of J55 and GameCo in connection with the GameCo Transaction; (b) the execution of the Luminosity SPA and the satisfaction or waiver of all the conditions precedent in the Luminosity SPA to the satisfaction of Canaccord; (c) the receipt of all regulatory, shareholder and third party approvals required in connection with the GameCo Transaction and the Luminosity Acquisition; and (d) GameCo not being in breach or default of any of its covenants or obligations under the agency agreement and the subscription receipt agreement entered into in connection with the Subscription Receipt Offering. Upon the closing of the GameCo Transaction, GameCo common shares issued on conversion of the Subscription Receipts will be exchanged for post-consolidation J55 Common Shares in accordance with the terms of the GameCo Transaction Agreement. 

Advisors

Haywood Securities Inc. is acting as Enthusiast Gaming’s financial advisor, and Stikeman Elliott LLP and Minden Gross LLP are acting as Enthusiast’s legal advisors in connection with the Arrangement. Clark Wilson LLP is acting as J55’s legal advisor in connection with the Transactions. Canaccord Genuity Corp. is acting as GameCo’s exclusive financial advisor, and Norton Rose Fulbright LLP is acting as GameCo’s legal advisor in connection with the Transactions.

Capitalization of the Combined Company

Upon completion of the Transactions, it is expected that there will be 557 million common shares of the combined company issued and outstanding as well as options and warrants to acquire a further aggregate of 109 million common shares. Furthermore, upon completion of the Arrangement the then outstanding common shares of the combined company will be held as follows:

  • 15.2 million shares (2.7%) held by former shareholders of J55;
  • 246.9 million shares (44.3%) held by former shareholders of GameCo (inclusive of the conversion of the Subscription Receipts);
  • 60 million shares (10.8%) held by former shareholders of Luminosity;
  • 213.1 million shares (38.2%) held by former shareholders of Enthusiast Gaming; and
  • 22.2 million shares (4.0%) held by former holders of the Debentures assuming conversion at a price of $0.45.

In addition, it is expected that there will be outstanding combined company convertible securities which will be redeemable for, or convertible into, an aggregate of 25 million common shares of the combined company.

About Enthusiast Gaming

Founded in 2014, Enthusiast Gaming is the largest vertically integrated video game company and has the fastest-growing online community of video gamers. Through the Company’s organic and acquisition strategy, it has amassed a platform of over 150 million monthly visitors across its network of websites and YouTube channels. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.ca) with approximately 55,000 people attending in 2018. For more information on the Company, visit www.enthusiastgaming.com.

CONTACT INFORMATION:
Investor Relations:
Julia Becker
Head of Investor Relations & Marketing
[email protected]
(604) 785.0850

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact are forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend”, “estimate” or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements with respect to the completion of the Transactions and the timing for its completion; the satisfaction of closing conditions which include, without limitation (i) required shareholder approval, (ii) necessary court approval in connection with the plan of arrangement, (iii) receipt of any required approvals, (iv) certain termination rights available to the parties under the Arrangement Agreement, (v) obtaining the necessary approvals from the TSXV, (vi) other closing conditions, including compliance by the parties with various covenants contained in the Arrangement Agreement, (vii) statements with respect to the effect of the Transaction on the parties; and (viii) statements with respect to the anticipated benefits associated with the Transactions.

Forward-looking statements are based on certain assumptions regarding Enthusiast, GameCo, J55 and Luminosity, including the completion of the Transactions, anticipated benefits from the Transactions, and expected growth, results of operations, performance, industry trends and growth opportunities. While Enthusiast, GameCo, J55 and Luminosity consider these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

The assumptions of Enthusiast, GameCo, J55 and Luminosity, although considered reasonable by them at the time of preparation, may prove to be incorrect. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations and other risks. Among other things, there can be no assurance that the Transactions will be completed or that the anticipated benefits from the Transactions will be achieved. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of Enthusiast and J55 which are available on SEDAR at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Enthusiast, GameCo, J55 and Luminosity disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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Posted in Enthusiast Gaming Holdings Inc. | Comments Off on Enthusiast Gaming $EGLX.ca Announces Merger With #Aquilini GameCo and #Luminosity to Form Global Esports and Gaming Leader $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

Enthusiast Gaming $EGLX.ca – Why Investors Should Be Looking at the #Esports Industry $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

Posted by AGORACOM-JC at 3:30 PM on Thursday, May 30th, 2019

SPONSOR: Enthusiast Gaming Holdings Inc. (TSX-V: EGLX) Uniting gaming communities with 80 owned and affiliated websites, currently reaching over 75 million monthly visitors. The company exceeded 2018 target with $11.0 million in revenue. Learn More

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EGLX: TSX-V
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Why Investors Should Be Looking at the eSports Industry

  • eSports audience size is also increasing, as more and more fans tune in to watch amateur and professional gamers compete. The fanbase has already grown massive, with an estimated 25.7 million eSports viewers in the US alone last year.
  • By 2022, analysts expect there to be nearly 300 million frequent viewers of eSports around the world, while 347 million people are forecast to be occasional viewers.

Kristen Moran

Video games aren’t just for teenagers anymore. In fact, the electronic sports (eSports) industry has grown substantially in recent years, bringing in $865 million USD worldwide in 2018, and is expected to surpass $1.48 billion USD in revenue by 2020, representing a CAGR of 32%.

The eSports audience size is also increasing, as more and more fans tune in to watch amateur and professional gamers compete. The fanbase has already grown massive, with an estimated 25.7 million eSports viewers in the US alone last year. By 2022, analysts expect there to be nearly 300 million frequent viewers of eSports around the world, while 347 million people are forecast to be occasional viewers.

Investors looking for the next big thing after the cannabis and cryptocurrency booms should definitely consider investing in companies that are involved in the burgeoning eSports industry. From eSports game developers and publishers to digital media platforms and eSports tournaments, there are ample opportunities to cash in on the growing eSports industry.

Investing in the eSports Industry

eSports involve multiplayer video games that are played competitively by both professional and amateur gamers for spectators. These can be first-person shooter games (FPS), real-time strategy (RTS) games, multiplayer online battle arena (MOBA) games, sports games, card games, strategy games, or fighting games.

Although the eSports industry is dominated by well-known game publishers like Tencent Holdings Ltd. (OTCPK:TCTZF) and Sony (NYSE:SNE), there are a few up-and-comers offering promising products to the market.

Source: https://microsmallcap.com/investors-esports-industry/

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Posted in Enthusiast Gaming Holdings Inc. | Comments Off on Enthusiast Gaming $EGLX.ca – Why Investors Should Be Looking at the #Esports Industry $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

Tartisan #Nickel $TN.ca – The biggest themes in global natural resources today #Nickel #Cobalt #Lithium $ROX.ca $FF.ca $EDG.ca $AGL.ca $ANZ.ca

Posted by AGORACOM-JC at 9:00 AM on Thursday, May 30th, 2019

SPONSOR: Tartisan Nickel (TN:CSE)  Kenbridge Property has a measured and indicated resource of 7.14 million tonnes at 0.62% nickel, 0.33% copper. Tartisan also has interests in Peru, including a 20 percent equity stake in Eloro Resources and 2 percent NSR in their La Victoria property. Click her for more information

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TN: CSE
Fact Sheet
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The biggest themes in global natural resources today

  • Ongoing trend towards the electrification of vehicles will likely benefit lithium and other metals such as copper, nickel and cobalt
  • This is a significant change and is being driven by better technology, legislative restrictions on pollution in cities and consumer demand for more environmentally-acceptable transport

Alex Cowie

The global natural resources sector, including mining and energy, as well as agriculture, is about four times bigger than the entire Australian equity market. Sifting through this massive and diverse universe for opportunities is Daniel Sullivan, Co-Head of Global Natural Resources at Janus Henderson Investors.

In our recent Q&A, Daniel explains why he thinks this sector will undergo more change in the next 20 years than the last century and talks through the big themes investors should have on their radar, including the seismic shifts taking place in energy. 

Daniel also looks at where the rejuvenated mining sector could go next and shares some of his thoughts on lithium, coal, gold, LNG, as well as renewable energy and agricultural commodities. 

Read on for this fascinating discussion that goes well beyond the local resource themes to reveal a truly global perspective on this vast and rapidly evolving global industry.  

Q: Please explain what you do in your role as though someone at a dinner party asked you. What are some of the most enjoyable aspects of your work?

When people ask me what I do for a living, I tell them that I invest in companies around the world in the mining, energy and agriculture sectors on behalf of investors. To bring natural resources into a more relatable context, I ask them to look around – at the clothes they are wearing, the phone in their pockets, the food on their dinner plate and even the building over their head and to understand that every component of every item was derived from natural resources. 

Natural resources underpin our society – and for me, that makes the sector a fascinating place to invest. Ours is a sector with an enormous variety of companies, with constant changes in market dynamics across the three sub-sectors giving us a lot to work with and to think about.

Q: What is the big opportunity in your investible universe that the market has not fully appreciated?

We believe the long-term demand for metals, energy and agricultural output will remain strong as the world continues to grow and urbanise; billions of people’s needs must be catered for.

The next twenty years will see more change than was witnessed over the past century, with access to vast numbers of young people and technology available to help solve incredibly complex problems. The companies in our investment space that align to these changes are likely to grow at much higher rates than their peers and become more highly valued over time. This has begun in earnest in the past few years and appears to be accelerating. Rapid change is being discussed in the largest resource companies in the world and this will likely continue to gain momentum.

Q: Agriculture has seen some major developments in genomics, why is this an interesting theme to watch?

The sequencing of the wheat genome will prove to be a major breakthrough for food production in more challenging agricultural areas, boosting incomes and development for many people.

The interaction of genetics, climate, fertiliser and crop protection to deliver better quality produce and improved farmer/supplier economics is always being played out. Corteva Agriscience, the agricultural company being spun out from the merger of Dow and DuPont is an interesting example of a specialist company in this area.

Q: Changing dietary habits of the surging Asian middle class is often cited as a driver for increased protein production. Is this an area you see good opportunities, and if so, how can investors play this?

While China has the world’s largest rates of pork production and consumption, they are largely self-sufficient, meaning there is limited opportunity. That said, we have invested in the leading producers of high quality agricultural products, including milk powder, berries, apples and salmon, which have seen strong growth resulting from the Asian middle class thematic.

Looking at the upstream opportunities from this theme, our investments in seed and fertiliser companies benefitted from the boom in soybean production in Brazil and the US. Over the past 10 years, China has been a major soybean importer.

Q: On a sector basis, mining saw the strongest dividend growth of all last calendar year, with the local big miners BHP and RIO certainly reminding us that miners can actually generate a yield too. Has this return to form of resource stocks as income stocks been a big factor in your investment strategy, and what are you expecting over the medium term in this regard?

The mining sector is currently in a very favourable position, having come through the five-year downturn with reduced capital and operating costs and much lower debt. As a result, in the upturn of the past three years, cash flows have been very significant. Coupled with the sale of non-core assets, cash returns to shareholders have been high. Many of these businesses are in great shape operationally and financially. We expect that they will remain disciplined with capital allocation and continue to drive high returns back to shareholders. This is likely to result in a re-rating from investors.

Q: I understand you have some exposure to the lithium majors. How big an opportunity do you think the battery minerals thematic will be in reality over the next 3-5 years, and where in the supply chain will the best opportunities be?

The ongoing trend towards the electrification of vehicles will likely benefit lithium and other metals such as copper, nickel and cobalt. This is a significant change and is being driven by better technology, legislative restrictions on pollution in cities and consumer demand for more environmentally-acceptable transport. However, we do expect progress to be a little stop-start and significant demand changes may not occur until post-2025.

Q: How does the M&A current in play among the global gold majors mean for the rest of the sector, and what does it tell us about the current state of the industry?

The major gold producers have generally been poor performers and have failed to deliver the significant cash returns seen in the major diversified companies. The recent spate of mergers has been disappointing as they have generally been conducted at low or no premium. Despite being on the right side of the Barrick-Randgold, Newmont-Goldcorp and Barrick-Newmont merger proposals, these have not generated significant performance for our strategy. Where we have historically seen better opportunities has been in explorer-developers, with significant value generation through resource discovery and the successful progression through to development.

Q: Given the recent reversal in Fed policy, it is easy to take a positive view on the gold price from here; do you have a view on gold, and does it influence your strategy?

As a team we tend not to have a strong view on commodity prices – and this includes gold – but we do acknowledge there is a monetary and safety aspect to gold that could see significant price appreciation in crises or monetary realignment. Having said that, there has been no significant value generated from these themes and we are much more interested in real companies operating on the ground to find and develop quality gold mines.

Q: Given the chronic underinvestment in exploration and development assets by the majors since the GFC, how big an opportunity is there in investing in quality juniors, and in which sector are you seeing the best opportunities in this regard?

Part of the problem with a significant downturn is the withdrawal of capital from many junior companies. Many of the promising projects of the past five years were shut down and are only now re-emerging with some small capital raisings recommencing this year. Exploration and development are long term cycles, often seven years or more, so the world has lost a cycle of projects in this downturn. We do need to be mindful of liquidity and this means being cautious in taking on juniors.

Q: What was your take on the recent banning of Australian coal imports at some Chinese ports, and how big a potential risk do you think it is for the majors; i.e.: should we expect more of this?

China is very complex and the interplay between policy, demand, pricing and preferences can be hard to understand. Of their total demand for coal, imported coal is a small component. They have also pivoted very strongly to liquefied natural gas (LNG) imports over the last two years. Across 2018, the markets worked through the tariff disputes, continued economic maturation and more recently, the Lunar New year periods, each of which reduces activity and demand growth.

Q: What is the most interesting theme in energy (including sustainable energy) right now? Please explain why it matters.

For the world’s largest energy companies, gas has become the transitional fuel. This has been seen with major LNG projects built and planned by all the large companies. There has also been a pivot to electricity and trading, and we saw a general sell down away from oil sands. 

The true pivot to renewables will be difficult for companies of this size, but they are increasing investment into wind and solar projects. More interesting are the smaller companies that are still discovering and developing high quality, low cost and growth projects. We have a favourable view of the long term growth of renewable energy and the storage of electricity, but these opportunities are not as common in listed markets.

Q: While Australia only makes up a small part of your investable universe, what do you see as the globally significant themes within the Australian resources sector?

It’s true that our global natural resources investable universe is many times the size of the Australian resources sector, in fact, the market cap of the global resources sector is about four times the market cap of the entire Australian equity market. That said, Australia has a very strong mining heritage and has also grown its energy industry in recent years to become the world’s second largest LNG exporter after Qatar. With a good entrepreneurial culture in Perth, Australia continues to contribute to mineral exploration and development of global significance. With the recent lithium demand growth and price boom, Western Australia has delivered six new mining developments.

Q: What was the last thing you read that really blew you away, and why?

To get a sense of the potential changes that might be just around the corner you should watch Tony Seba, presenting on “Clean Disruption of Energy and Transportation”. 

A similar thought-provoking article is “This is how big oil will die” 

Source: https://www.livewiremarkets.com/wires/the-biggest-themes-in-global-natural-resources-today

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Good Life Networks $GOOD.ca Increases Revenue by 249% to $4.6 Million for Q1 2019 $TTD $RUBI $AT.ca $TRMR $FUEL

Posted by AGORACOM-JC at 8:24 AM on Thursday, May 30th, 2019
  • Gross Profit increases by 245% to $1,544,961 in comparison to Q1 2018. Gross Margin for Q1 2019 remain stable at 33%(increase of 14% from Q4 2018) compared to 34% reported for Q1 2018
  • Letter Of Intent signed to acquire mPlore, leader in mobile ad technology and MOU signed with Globex to launch account receivable securitized token

Vancouver, British Columbia–(May 30, 2019) – Good Life Networks Inc. (TSXV: GOOD) (FSE: 4G5) (“GLN“, or the “Company“), a programmatic advertising technology company, today announced that it has filed its Q1 2019 financial statements and management’s discussion and analysis for the period ending March 31, 2019, available for viewing on www.sedar.com. All figures are expressed in Canadian dollars unless otherwise stated.

Jesse Dylan, CEO of GLN, commented, “I am very pleased with our financial results for the first quarter. We are diligently focused on executing our growth strategy and we continue to review accretive acquisition opportunities to scale the business and deepen our reach within the CTV and mobile space.” He continued, “We expect similar quarterly performance growth as recorded in previous years 2017, and 2018. This means that Q1 performance is a good indicator that we are on track to meet our 2019 performance objectives.”

First Quarter and Recent Company Highlights:

During the first quarter ending March 31, 2019, GLN achieved the following milestones:

  • Appoints Stephen Tapp and Todd Finch as Advisors to the Company
  • Signs Memorandum of Understanding with Globex to launch its account receivable securitized token
  • Expands reach in mobile advertising with a binding Letter of Intent to acquire mPlore, a leading mobile ad technology company
  • GLN property, 495 Communications, increases Roku channel development by 40%
  • Completed 495 integration, and doubles client base

Financial Highlights:

  • Revenue of $4,617,564 during the three months ended March 31, 2019 was a 249% increase compared to $1,322,139 recorded during the three months ended March 31, 2018;
  • Gross Profit increases by 245% to $1,544,961 in comparison to Q1 2018. Gross margin for Q1 2019 increased to 33%, which is a 14% sequential increase from Q4 2018 (and stable compared to 34% during the three months ended March 31, 2018);
  • Comprehensive loss for the three months ended March 31, 2019 was $1,510,680 compared to comprehensive loss of $2,948,479 during the three months ended March 31, 2018;
  • Adjusted EBITDA loss for the three months ended March 31, 2019 was $153,525 compared to an EBITDA loss for the three months ended March 31, 2018 was $366,534

Reconciliation of Adjusted EBITDA

Adjusted EBITDA is a non-IFRS financial measure that we calculate as income (loss) before income taxes excluding depreciation and amortization, stock-based compensation expense, interest expense, and gain or loss on financial instruments and foreign exchange.

Adjusted EBITDA is a measure used by management and the Board to understand and evaluate our core operating performance and trends. This measure differs from contribution in that adjusted EBITDA includes additional operating costs, such as general and administration expenses and marketing, but excludes funding interest costs.

The following table presents a reconciliation of adjusted EBITDA to loss before income taxes, the most comparable IFRS financial measure for each of the periods indicated:

  
 Three Months Ended March 31,
Adjusted EBITDA20192018
 $$
Comprehensive Income (Loss) for the Period(1,510,680)(2,948,479)
Reporting currency translation adjustment373,317–
Listing fee–2,318,018
Acquisition-related expenses8,500–
Gain (Loss) on forgiveness of debt23,120(26,535)
Foreign exchange expense128,003(22,594)
Fair value of change of derivative liability–(234,000)
Share-based compensation153,014488,830
Amortization319,9222,084
Interest expense196,16856,142
Accretion expense155,111–
Adjusted EBITDA(153,525)(366,534)
   

Conference Call Details

GLN will be hosting a conference call beginning at 9:00am EST (6:00am PST), today, May 30th to discuss the results.

Conference Call Access

To access the conference call by phone, please dial the following numbers.

Canada/USA TF: 1-800-319-4610
International Toll: +1-604-638-5340
Germany TF: 0800-180-1954
UK TF: 0808-101-2791

Callers should dial in five to 10 minutes prior to the scheduled start time and ask to join the Good Life Networks call. We encourage you to access the webcast and presentation material that will be published in the Investors section of GLN’s website at https://glninc.ca/overview/

The GLN Story

GLN’s patent pending technology is the engine that sits between advertisers and publishers. A highlight of GLN’s tech is that it does not collect PII (Personal Identifiable Information). Built for cross device video advertising: Mobile, In-App, Desktop and CTV (Connected Television) the GLN Programmatic Video Advertising Platform has among the lowest fraud rates of similar vendors in the industry. Advertisers make more money by reaching their target audience more effectively. GLN makes money by retaining a percentage of the advertiser’s fee.

GLN is headquartered in Vancouver, Canada with offices in Newport Beach and Santa Monica California, New York and UK and trades on the TSXV under the stock symbol “GOOD” and The Frankfurt Stock Exchange under the stock symbol 4G5. For further information on the Company, visit www.glninc.ca

CONTACT

Investor Relations
[email protected]

Jesse Dylan, CEO
604 265 7511

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements:

Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of GLN. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding management’s expectations with respect to the Company’s future performance growth and achievement of its future performance objectives. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Important factors that may cause actual results to vary include without limitation, risks relating to, the stability of the industry in which the Company operates, the Company’s ability to continue to achieve its performance objectives, the Company’s ability to sustain and support its performance growth, changes in legislation and general economic conditions or conditions in the financial markets.

In making the forward‐looking statements in this news release, the Company has applied several material assumptions, including without limitation that GLN’s operations will generate the anticipated results as per management’s expectations and that the Company’s performance will grow at the same rate as it has in 2017 and 2018.

GLN does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in GLN’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45150

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Esports Entertainment Group $GMBL – Gamers Fight for Rights as Billion-Dollar #Esports Market Matures $TECHF $ATVI $TTWO $GAME $EPY.ca $FDM.ca $TNA.ca

Posted by AGORACOM-JC at 2:17 PM on Wednesday, May 29th, 2019
SPONSOR: Esports Entertainment $GMBL Esports audience is 350M, growing to 590M, Esports wagering is projected at $23 BILLION by 2020. The company has launched VIE.gg esports betting platform and has accelerated affiliate marketing agreements with 190 Esports teams. Click here for more information
GMBL: OTCQB

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Gamers Fight for Rights as Billion-Dollar Esports Market Matures

By Eben Novy-Williams

While there’s disagreement over how big a problem this is, there’s consensus that esports organizations have too much power.

“Orgs have strong counsel with 30-page agreements that have all sorts of terms in them, and often on the other side you’ve got a teenager, or early 20s, who’s probably never read a contract before,” said Gordon, whose firm represents both players and organizations. “It’s really weighted against the player.”

As some esports leagues push to make themselves more and more like traditional sports leagues, the industry may need to decide whether its players will get the benefits of traditional sports stars (unions, collective bargaining and rigid salary structures) or whether it will mirror more the music and entertainment world, where young creators often sign away a large bulk of their rights and income on their way up.

Finding Agents

One major concern in esports: Teams often serve as management for their players. Trink said that earlier this year, while FaZe Clan was trying to reach a new agreement with Tenney, it began encouraging those on its roster to find outside representation. He said it’s better for the players and better for the organization to help avoid situations like the one they’re in now.

That’s part of what Trink called the new-era contract. In addition to helping gamers find agents or managers, the team is rethinking revenue splits. Instead of teams getting 80% of brand deals that it brings to a player, Trink said the team now takes 20%. (The $60,000 that FaZe claims to have made from Tenney came from 20% cuts off two different brand deals.)

FaZe Clan is also getting more granular on revenue details. Instead of simply taking a cut of Twitch revenue, FaZe Clan is separating out different streams. It no longer takes a percentage of donations or subscriptions that its gamers earn from Twitch, which for top streamers can be tens of thousands of dollars each month.

“We feel that is too personal and that we shouldn’t take that money,” Trink said.

Proving Themselves

Only so much change can come from the teams themselves. In the future, gamers may need fully independent unions, similar to those in the NFL or NBA, and a collectively bargained salary structure.

But as in pro sports, up-and-coming gamers will have to demonstrate that they deserve lucrative contracts, said Bryce Blum, founding partner at ESG Law.

“An unproven player in esports, like the majority of rookies in traditional sports, isn’t worth a massive deal,” he said. “They need to get their foot in door and prove their worth on the first contract in order to improve their value in the marketplace.”

Source: https://www.bloomberg.com/news/articles/2019-05-29/gamers-fight-for-rights-as-billion-dollar-esports-market-matures

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ThreeD Capital Inc. $IDK.ca – Debunking the Top 5 #Blockchain Myths $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 11:47 AM on Wednesday, May 29th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

Idk large
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Debunking the Top 5 Blockchain Myths

Satoshi Nakamoto’s seminal paper “Bitcoin: A Peer-to-Peer Electronic Cash System,” published in 2009, which took cues from “How to Time-Stamp a Digital Document,” published by Stuart Haber and W. Scott Stornetta in 1991, sparked a feeding frenzy of accolades for blockchains which inscribed an urban legend about trusted public decentralized blockchains, a historical departure from the mediation of brokers and third parties. The first paper sought to create trust in digital currencies by solving the decades-old “double spend” problem associated with digital currencies with applied cryptography and the second by preventing the tampering of digital documents with time stamping.

The information, documents, transactions or digital coins are mathematically protected with hard-to-crack hash functions that create a block and interconnect it to previously created blocks. To validate the new chain of blocks, it is then broadcasted and shared, to a distributed network of computers, to collectively agree about the authenticity of the transactions, using additional mathematics of a consensus algorithm. The entire cryptographic proof of transactions is stored as an immutable record on a distributed and shared ledger, or the blockchain. “In effect, this is triple entry accounting which includes the two entries of the transacting parties and a third record for the public, registered on a public distributed ledger, which cannot be tampered with,” Ricardo Diaz, the Charlotte, North Carolina-based founder of Blockchain CLT and management consultant for commercialization of enterprise blockchains, told us.

Rising from the trough of disillusionment, the myths around public centralized blockchains have been reexamined and we will now assess the controversy. (Blockchain is being used for much more than just cryptocurrency. Learn more in Why Data Scientists Are Falling in Love with Blockchain Technology.)

Myth #1: Private permissioned blockchains cannot be secure.

Private permissioned blockchains are a contradiction in terms and public blockchains are the only secure and viable option. Public blockchains gain trust by consensus, which is not possible when private blockchains need permission for a small group of people.

In actual implementations, centrally controlled private or federated permissioned blockchains, albeit distributed, are common. Federated blockchains focus on specific verticals such as R3 Corda for banks, EWF for energy and B3i for insurance companies. The motivation to keep a blockchain private is confidentiality and certainty of regulatory compliance as in banking, unique needs such as in renewable energy where small producers need to connect with consumers, or the fear of cost overruns or underwhelming performance of unproven technologies as in insurance.

The jury is still out whether private blockchains will last beyond their pilot programs. TradeLens is one private blockchain which IBM created with Maersk, the largest container company in the world. According to press reports, the project has gotten off to a slow start as other carriers, which could be potential partners, have expressed skepticism about the benefits they will realize from joining.

Steve Wilson, VP and Principal Analyst at Constellation Research, cautioned against a rush to judgment. “IBM is moving slowly because it is bringing together a group of partners who have not worked together before. They are also transitioning from a world where trades were mediated by brokers to an unfamiliar world of direct trading. The trade documentation is convoluted, and IBM is trying to avoid errors,” he told us.

Fundamentally, Wilson does not see a well-defined use case for public blockchains. “Public blockchains overlook the plain fact that any business solution is inseparable from people and processes. The double spend problem does not exist when transactions in physical worlds are tracked at each stage,” he concluded.

By contrast, private blockchains, such as Corda in financial services, are solving real problems. “The supervision of private blockchains by credible stewards narrows down the problem of trust. Private blockchain realize efficiency gains from a common and secure distributed ledger which takes advantage of the cryptography, time-stamping, and smart contracts which were prototyped in public blockchains,” Wilson explained.

Myth #2: Hybrid blockchains are an incompatible mix of private and public.

Public, permissionless decentralized blockchains and private centrally controlled permissioned blockchains are mutually exclusive. They seek to create a trustworthy environment for transactions in entirely different ways which are not compatible. It is not possible to have a combination of the private and the public in a single secure chain.

Hybrid combinations emerge as the market matures and dispel the skepticism about the early forms of new technologies. Just like the precursors to the internet were intranets and extranets which evolved into the internet with sites searchable with browsers; the cloud followed a similar path and hybrid clouds are widely accepted these days.

In the crypto community, there are two camps: the public, permissionless blockchains and private, permissioned blockchain. According to Diaz:

The private blockchain side has historically presumed to require miners and a cryptocurrency financial incentive to validate the blockchain was unnecessary. Today, new blockchain projects support private and public distributed ledger technologies. Ternio.io, an enterprise blockchain platform, leverages Hyperledger Fabric (a permissioned blockchain technology) AND Stellar (a permissionless blockchain). Veridium.io, a carbon credit marketplace blockchain project, also has a similar DLT architecture.

Diaz also noted:

Jaime Dimon, CEO of JPMC, who dismissed bitcoin as a fraud, has not only invested in building a popular, secure, private blockchain called Quorum, but also introduced an enterprise stable coin (a type of cryptocurrency token) called the JPM Coin. It was built using the Ethereum blockchain code base, a public blockchain protocol, and the privacy technology from ZCash, another public but more secure blockchain protocol. Security on Quorum is reinforced by secure enclave technology which is hardware-based encryption.

Quorum is not a hybrid blockchain that has public and private blockchains working together, but it incorporates the code from public blockchains and cryptocurrencies that are normally integral to public blockchains. It creates a fork on Ethereum to create a private blockchain. There are other hybrid blockchains in which private and public blockchains play complementary roles.

Hybrid blockchains have a compelling value that is driving skeptical enterprise clients to progress from private blockchains to hybrid ones that incorporate public blockchains and token economics on an as-needed basis. The bridges between the private and the public chains in the hybrid blockchain ensure that the security is not compromised, and intruders are disincentivized by requiring them to pay to cross the bridge.

Hybrid crypto networks of the future will be more secure than anything the internet, Web 2.0, has today. Diaz explained:

Crypto mesh networks that are supported by crypto routers, like the wireless router in your home, will only process transactions that are cryptographically secured not only with blockchain technology but also true crypto economics. Imagine a crypto router or device that requires a small amount of cryptocurrency to process a transaction like an email between two parties. This one key difference will drastically impact hackers across the planet who are used to freely hacking computers and networking them together to launch a massive denial of service attack on some business. On the Decentralized Web, Web 3.0, the hacker would have to pay upfront for his/her bot army to launch the same attack. That is token economics crushing a major cybersecurity issue.

Myth #3: Data is immutable in any circumstance.

A cornerstone of public blockchains is the immutability of the pool of the data for all transactions that it stores.

The reality is that public blockchains have been compromised either by an accumulated majority, also known as a “51% attack” of the mining power by leasing equipment rather than purchasing it, and profit from their attacks or by bad code in poorly written smart contracts.

Rogue governments are another cybersecurity risk. “Private individuals respond to incentives for keeping the data honest. My worry is governments who have other non-economic objectives immune to financial incentives,” David Yermack, Professor of Finance at the Stern Business School in New York University, surmised.

Public blockchains have to come to grips with the fact that human error is possible despite all the vetting — it happens in any human endeavor. Immutability breaks when corrections are made. Ethereum was split into Ethereum Classic and Ethereum following the DAO attack which exploited a vulnerability in a wallet built on the platform.

“The Bitcoin blockchain network has never been hacked. The Ethereum blockchain has suffered attacks but the majority of them can be attributed to bad code in smart contracts. Over the last two years, an entirely new cybersecurity sector has emerged for the auditing of smart contract code to mitigate the common risks of the past,” Diaz told us. Auditing of software associated with blockchains, including smart contracts, helps to plug the vulnerabilities in supporting software that exposes blockchains to cybersecurity risks. (For more on blockchain security, see Can the Blockchain Be Hacked?)

Myth #4: Private keys are always secure in the wallets of their owners.

Blockchains rely on public key infrastructure (PKI) technology for security, which includes a private key to identify individuals. These private keys are protected by cryptography and their codes are not known to anyone except their owners.

The reality is that in 2018 over $1 billion in cryptocurrency was stolen.

The myth about the privacy and security of private keys rests on the assumption that they cannot be hacked. Dr. Mordechai Guri of the Ben-Gurion University in Israel demonstrated how to steal private keys when they are transferred from a safe location, unconnected with any network, to a mobile device for usage. The security vulnerability is in the networks and associated processes.

“Today there are many best practices and technologies that reduce the risk of this perceived weakness in basic cryptography to protect private keys. Hardware wallets, paper wallets, cold wallets and multi-signature (multi-sig) enabled wallets all significantly reduce this risk of a compromised private key,” Diaz informed us.

Myth #5: Two-factor authentication keeps hot wallets secure.

My private keys are safe on a crypto exchange like Coinbase or Gemini. The added security of two-factor authentication (2FA) these sites provide in their hot wallets can’t fail.

A crypto hot wallet cybersecurity hack that is becoming more and more common is called SIM hijacking, which subverts two-factor authentication. Panda Security explains how hackers receive verification passcodes by activating your number on a SIM card in their possession. This is usually effective when someone wants to reset your password or already knows your password and wants to go through the two-step verification process.

“If you must purchase cryptocurrency through a decentralized or centralized crypto exchange, leverage a third-party 2FA service like Google Authenticator or Microsoft Authenticator, NOT SMS 2FA,” Diaz advised.

Conclusion

Distributed ledger technologies and blockchain technologies are evolving, and the current perceptions about their risk are more muted as new innovations emerge to solve their inadequacies. Although it is still early days for the crypto industry, when Web 3.0 and decentralized computing become more mainstream, we will live in a world that will put more trust in math and less in humans.

Source: https://www.techopedia.com/debunking-the-top-5-blockchain-myths/2/33796

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Good Life Networks $GOOD.ca to Report First Quarter Earnings Results May 30, 2019 $TTD $RUBI $AT.ca $TRMR $FUEL

Posted by AGORACOM-JC at 8:12 AM on Wednesday, May 29th, 2019
  • Will release its first quarter financial and operating results at 7:50am EST (4:50am PST) Thursday, May 30, 2019. GLN will then host a conference call beginning at 9:00am EST (6:00am PST) to discuss the results.

Vancouver, British Columbia–(May 29, 2019) – Good Life Networks Inc. (TSXV: GOOD) (FSE: 4G5) (“GLN“, or the “Company“), a Vancouver-based programmatic advertising technology company, will release its first quarter financial and operating results at 7:50am EST (4:50am PST) Thursday, May 30, 2019. GLN will then host a conference call beginning at 9:00am EST (6:00am PST) to discuss the results.

Conference Call Access

To access the conference call by phone, please dial the following numbers.

Canada/USA TF: 1-800-319-4610
International Toll: +1-604-638-5340
Germany TF: 0800-180-1954
UK TF: 0808-101-2791

Callers should dial in five to 10 minutes prior to the scheduled start time and ask to join the Good Life Networks call. We encourage you to access the webcast and presentation material that will be published in the Investors section of GLN’s website at https://glninc.ca/overview/

The GLN Story

GLN is a patent pending machine learning programmatic video advertising technology company that does not collect PII (Personal Identifiable Information). GLN has the ability to transact on millions of online video ads daily 3 times faster than IAB (Interactive Advertising Bureau) standards. GLN is headquartered in Vancouver, Canada with offices in the US and UK and trades on the TSX Venture Exchange under the stock symbol “GOOD” and The Frankfurt Stock Exchange under the stock symbol 4G5.

Addressable Market: The total media ad spend worldwide will rise 7.4% to $628.63 billion in 2018, according to “Global Ad Spending: The eMarketer Forecast for 2018.” Digital media will account for 43.5% of that investment, thanks to rising global ecommerce spending and shifting viewership from traditional TV to digital channels. By 2020, digital’s share of total advertising will near 50%.

CONTACT:

Investor Relations
[email protected]

Jesse Dylan, CEO
604 265 7511

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45098

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Enthusiast Gaming $EGLX.ca Partners With #Ubisoft Canada to Host Rainbow Six Canada Nationals at EGLX $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

Posted by AGORACOM-JC at 8:09 AM on Wednesday, May 29th, 2019
  • Partnered with Ubisoft Canada to host the Rainbow Six Canada Nationals and bring the Ubisoft show floor activation to Enthusiast Gaming Live Expo (EGLX) in October 2019.
  • Rainbow Six Canada Nationals will kick off in June 2019 and conclude in a live finals at EGLX in October 2019

TORONTO, May 29, 2019 — Enthusiast Gaming Holdings Inc. (TSXV: EGLX) (OTCQB: EGHIF), (“Enthusiast Gaming” or the “Company”), the largest publicly traded video game media and esports company in North America, is excited to announce that through its subsidiary, Enthusiast Gaming Live Inc, it has partnered with Ubisoft Canada to host the Rainbow Six Canada Nationals and bring the Ubisoft show floor activation to Enthusiast Gaming Live Expo (EGLX) in October 2019.

Ubisoft is one of the world’s leading game publishers, responsible for creating acclaimed video game franchises including: Assassin’s Creed, Far Cry, Just Dance, Prince of Persia, Rayman, Raving Rabbids, and Tom Clancy’s. The esports tournament is a unique team-based competitive first-person shooter experience with high-level gamers playing Rainbow Six, a popular Ubisoft video game.

Presented by Ubisoft Canada and powered by Enthusiast Gaming, the Rainbow Six Canada Nationals will kick off in June 2019 and conclude in a live finals at EGLX 2019 on October 20, in downtown Toronto at the Metro Toronto Convention Centre.

The strategic partnership is in collaboration with Waveform Entertainment Inc., a leading esports operator and tournament producer, which Enthusiast invested in earlier this year. The partnership includes the full broadcast and live final production and tournament management. In addition, Ubisoft Canada will bring its Ubisoft Canada showfloor activation to EGLX 2019.

“We are excited to partner with Ubisoft Canada on the second season of the Rainbow Six Canada Nationals. Ubisoft Canada is a leader in the Canadian gaming publisher landscape, so bringing the finals to EGLX, Canada’s largest video game expo, is the perfect collaboration. Partnering with one of the largest game publishers and a fellow Canadian gaming titan speaks to the immense growth of EGLX and we look forward to putting on another amazing show in 2019” commented Menashe Kestenbaum, CEO of Enthusiast Gaming.

Tickets to EGLX 2019 will be on sale this summer. More information can be found at eglx.ca. To learn more about sponsorship or exhibit space at EGLX 2019, reach out to [email protected].

Canadian Rainbow Six Siege players can register their team for the Canada Nationals today and find more information about the tournament at r6canadanationals.com.

About Ubisoft

Ubisoft is a leading creator, publisher and distributor of interactive entertainment and services, with a rich portfolio of world-renowned brands, including Assassin’s Creed, Just Dance, Tom Clancy’s video game series, Rayman, Far Cry and Watch Dogs. The teams throughout Ubisoft’s worldwide network of studios and business offices are committed to delivering original and memorable gaming experiences across all popular platforms, including consoles, mobile phones, tablets and PCs. For the 2017-18 fiscal year Ubisoft generated sales of €1,732 million. To learn more, please visit www.ubisoft.com.

About Waveform Entertainment

Waveform Entertainment Inc. is a leading Canadian broadcast and production agency
specialized in the gaming and esports industry. Founded in 2018, Waveform has been on the
leading edge of live event production and broadcast for several years and services clients all
around the world. In April 2019, Enthusiast acquired a 20% interest in Waveform. Learn more about Waveform at www.waveform.gg.

About Enthusiast Gaming

Founded in 2014, Enthusiast Gaming is the largest vertically integrated video game company and has the fastest-growing online community of video gamers. Through the Company’s organic and acquisition strategy, it has amassed a platform of over 150 million monthly visitors across its network of websites and YouTube channels. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.ca) with approximately 55,000 people attending in 2018. For more information on the Company, visit www.enthusiastgaming.com.

CONTACT INFORMATION:

Investor Relations:
Julia Becker
Head of Investor Relations & Marketing
[email protected]
(604) 785.0850

This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Enthusiast anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, comments with respect to strategies, expectations, planned operations and future actions of the Company. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Enthusiast to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Enthusiast, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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Posted in Enthusiast Gaming Holdings Inc. | Comments Off on Enthusiast Gaming $EGLX.ca Partners With #Ubisoft Canada to Host Rainbow Six Canada Nationals at EGLX $EPY.ca $FDM.ca $WINR $TCEHF $ATVI $TNA.ca

Good Life Networks $GOOD.ca – #Mobile #advertising #adtech trends to watch in 2019 $TTD $RUBI $AT.ca $TRMR $FUEL

Posted by AGORACOM-JC at 9:00 PM on Tuesday, May 28th, 2019
SPONSOR: Good Life Networks (GOOD:TSX-V) Video advertising is the future! Company’s A.I. makes 80,000 calculations / second, targeting 750 million users to deliver higher prices and volume. Company announced FY2018 trailing pro forma of ~ $48,000,000 with Adjusted EBITDA of $7,100,000 Click here for more information.
GOOD: TSX-V

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Mobile advertising trends to watch in 2019

  • In the US, digital ad spends recently passed $100 billion due to dominant increases in mobile advertising and video ad spend.

Christian Hargrave

PubMatic released its first Quarterly Mobile Index (QMI) of 2019. The report includes key trends, providing both advertisers and publishers with insights around mobile advertising, leading to smarter programmatic strategies and future mobile opportunities.

In the US, digital ad spends recently passed $100 billion due to dominant increases in mobile advertising and video ad spend. As mobile advertising continues to evolve, it’s imperative for advertisers and publishers to both understand and prepare for these changes.

PubMatic’s Q1 2019 QMI report reveals the top four trends to watch:

Due to Video, Mobile Ad Spend Accelerates – The promise of 5G has the potential to bring powerful and interactive content and experiences, changing the way and speed at which video is consumed.

Mobile In-App Header Bidding Still Needs Time to Grow – Despite recent popularity and publishers’ pressure to optimize mobile in-app header bidding, lack of knowledge has led to new obstacles in adoption.

Safety Practices Take Center Stage as Fraud Rises – The majority of additional programmatic display dollars over the next year will go to private setups like PMPs. 
  
The Opportunity for Growth in APAC is Massive – Marketers in APAC are becoming more knowledgeable in programmatic strategies, illuminating the need to adopt automated ad strategies in other parts of the world.

For the first time, consumption across mobile devices will overtake television, as video viewing habits continue to impact the fight for attention. This has led marketers to spend $29 billion globally on mobile video advertising. The appearance of 5G makes focusing on mobile all the more important, as the expectations arise that consumers, advertisers and publishers will see a dramatic change in how video is consumed. This will lead to more seamless, complex video ad experiences for mobile users.

“Mobile advertising continues to see monumental increases in spending, while still making strides towards greater transparency and returns, which is hugely important for publishers and advertisers. That said, the industry is only now learning how to properly take advantage of in-app header bidding, which has led to more obstacles,” explained Paulina Klimenko, SVP, Corporate Development and GM, Mobile at PubMatic. “In order to find success, app publishers should consider the differences in header bidding between desktop and in-app and how the implementation efforts will impact their dev teams.”

Despite mobile advertising’s massive growth, spend within Android apps is down 17% year-over-year, while iOS has seen an increase of 68%. Most recently, Google blacklisted 6 apps from a major app developer for large-scale fraud, reflecting a trend of ad fraud schemes targeting GooglePlay apps. To avoid fraudulent apps and sophisticated invalid traffic impressions, marketers’ tactics have shifted inventory to in-app PMPs.

Programmatic, the automated buying and selling of digital media, is an intrinsic aspect of the advertising industry in North America and Europe, but there’s still room for growth in the Asia-Pacific (APAC) region. As mobile connectivity and mobile phone users has grown in APAC, the region’s advertisers and agencies are seeing the benefits in targeting mobile-first consumers through automated buying, though at roughly different paces.  With 359 million new mobile users coming in the next half decade, there is a greater urgency to adopt automated ad buying strategies in other parts of the world. Source: https://appdevelopermagazine.com/mobile-advertising-trends-to-watch-in-2019/

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CLIENT FEATURE: Star Navigation $SNA.ca – Providing Real-Time Patient Information and Flight Tracking

Posted by AGORACOM-JC at 3:24 PM on Tuesday, May 28th, 2019

RECENT HIGHLIGHTS

ANNOUNCED MEDEVAC AGREEMENT WITH AMS HELI DESIGN

  • Entered into a long-term agreement with AMS Heli Design of Denison, Texas
  • Parties are now offering the STAR-ISAMM™ System as part of the Helicopter Emergency Medical Services configuration
  • STAR-ISAMM™ interfaces with existing bio-medical equipment aboard a medical evacuation and transport helicopter or airplane
  • Securely transmits the patients’ vital signs and other critical information directly to receiving hospital physicians through SATCOM or GSM, while at the same time providing tracking and location of the vehicle.

Watch Our Recent Interview

FULL DISCLOSURE: Star Navigation Systems Group Ltd. is an advertising client of AGORA Internet Relations Corp.

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Posted in AGORACOM Client Feature, All Recent Posts, Star Navigation Systems (SNA: CSE) | Comments Off on CLIENT FEATURE: Star Navigation $SNA.ca – Providing Real-Time Patient Information and Flight Tracking

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