ESE Entertainment Inc. announced a non-brokered private placement of up to 5,000,000 units at an issue price of CAD 0.40 per unit for aggregate gross proceeds of up to CAD 2,000,000 on December 21, 2022. Each unit will be composed of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share at a price of CAD 0.70 per warrant share for a period of 36 months from the closing date of the transaction.

In connection with the transaction, the company may pay certain finders a cash commission and issue such finders non-transferable share purchase warrants, in accordance with TSX Venture Exchange policies. The first tranche of the transaction is expected to close on or around December 31, 2022. The transaction is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSXV.

All securities will not be subject to a hold period in accordance with applicable Canadian securities laws.