Millennial Esports to Open New Market Opportunities through

Alex Igelman, Executive Chairman, forms strategic partnership with Spectrum Gaming Sports Group in new venture

TORONTO, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Millennial Esports Corp. ("Millennial" or the "Company") (TSX VENTURE:GAME) (OTCQB:MLLLF) announced today that the Company is to act as the operations and projects execution partner for synergistic projects that are sourced and developed by Spectrum Esports Advisors (“SEA”), a new strategic alliance between Spectrum Gaming Sports Group (SG ² ) and Millennial Esports’ Executive Chairman Alex Igelman.

“The Spectrum Gaming Sports Group has been a leader in the gaming consulting space for a number of years and considering the prevelance and growth of esports, this is a naturaI progression for them,” Igelman said. “With my 25-plus years in the gaming industry and the past five years focused on esports, I intend to leverage that unique viewpoint to provide another opportunity to build and utilize Millennial Esports’ infrastructure and brand.”

Working with Igelman will be Josh Faber, a widely recognized expert in pari-mutuel wagering and government affairs. Services that SEA will offer include market analysis, regulatory advisory services, advising on the development of tournaments and sports arenas, and the creation of competitive head-to-head platforms.

“Esports – and its potential to attract different demographic groups – will play a critical role in gaming’s future, and needs to be on the agenda for policymakers, operators, and others who are charting that future,” said Michael Pollock, managing director of Spectrum Gaming Group and a principal in SG ² .

“With esports of growing interest to casino operators, gaming suppliers, lotteries, and gaming regulators, I believe Millennial Esports is uniquely positioned as an industry leader to aid in the operations and logisitical implementation of key esports initiatives in gaming,” Igelman added.

SG ² ’s global team is presently working with governmental agencies, professional sports leagues, tribal and commercial casino operators, as well as sports-betting providers and other stakeholders to help them identify the opportunities and challenges presented by the ongoing expansion of sports betting across the United States, including esports.

Millennial Esports, which has operated and hosted thousands of online and LAN-based tournaments, is a pioneer in Esports in Las Vegas, having opened the entertainment mecca’s first purpose-built esports arena and studioin 2015. 

“We see the potential from the this alliance and are excited about the potential to use our knowledge, our intellectual property, and leadership position to help grow Esports throughout the world,” noted Steve Shoemaker, Chief Executive Officer of Millennial Esports.

Other Matters

The 5,000,000 stock options granted to Stephen Shoemaker which were previously announced have an exercice price of $0.14 for seven years from the date of the grant.  In addition, 1,000,000 stock options granted to Alex Igelman on January 12, 2018, 500,000 stock options granted to Ronald Spoehel on November 16, 2017 and 250,000 stock options granted to Seth Schorr on January 12, 2018 were cancelled, while Ronald Spoehel and Seth Schorr also exercised 750,000 and 500,000 options, respectively.

About Millennial Esports Corp. Millennial Esports Corp. (MEC) is a vertically integrated mobile gaming publisher leading a revolution to fuse Esports racing and professional motorsport through a global competition model. MEC is utilizing its gaming franchises and intellectual property (IP) to engage millions of new players. Combined with its virtual and live tournament platforms, gaming analytics capability, and motorsport IP - including World’s Fastest Gamer - MEC is uniquely positioned to become the market leader in Esports Racing.  

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon Millennial's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.

The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the esports industry generally; the ability of Millennial to implement its business strategies; competition; and other risks.

Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Millennial does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Millennial to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in disclosure documents of Millennial filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com . The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information .

Neither 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 .