• Thu. Sep 22nd, 2022

Fashion League Partners with Concept Art House to Create First Web3, Female-Centric Gaming Experience Caters to Gen Y, Z Gaming, Metaverse Adopter Demographic – Investing News Network


Aug 11, 2022

Animoca Brands, Riot Games, YGG, Unity Make Up Advisory Board
Fashion League the first free web3 play-and-own game designed to create a mobile fashion empire, today announced that they are partnering with Concept Art House (CAH), a leading publisher for some of the world's most recognizable NFTs and video game art, to create animation, characters and NFTs for a new era in fashion-and-own gaming that is launching in beta end of this year and going live in Q1 2023.
The interactive RPG game experience will allow users to build their own virtual brand and become the star of their respective fashion empire by building and expanding their own clothing store and becoming virtual 3D fashion designers with the chance to even become NFT creators.
According to the 2021 Mobile Game Taxonomy Report , female gamers are more likely to play games on mobile as 60% of new players joining are women. In addition, 49% of gamers are women and there is close to a 50/50 split among male and female NFT holders aged 18-35.  Fashion League will strive to provide the next era for fashion and design, serving as a platform for brands to display their products to an avid and loyal consumer base; and reward NFT owners and token holders, creating a virtual commercial hub.
"Fashion League brings co-creation to a whole new level and wraps it in a fun and creative game where everyone can build their own virtual brand and become the owner of their digital assets. This is the perfect way to bring Web3 mass adoption forward. We are very excited that we are doing this together with CAH," said Theresia Le Battistini , CEO and founder of Fashion League.
"The statistics speak for themselves. Women will be a major force in bringing all that Web3 has to offer to life, and Fashion League has zoned in on the perfect audience with a first-to-market experience that we are thrilled to be a part of," said James Zhang , CEO of Concept Art House.
Fashion League will release playable and tradable NFTs launching this fall and ongoing NFT ownership benefits include:
An Advisory Board made up of industry leaders in fashion, gaming and crypto will provide strategic counsel to help advance Fashion League's mission to be the preeminent web3 fashion experience – where gamers, fashion enthusiasts and brands mesh to define a metaverse centered around fashion and brand. The Board members are Beryl Li , YGG ; Zanna Rassi , Milk Makeup & E! News ; Charles Tigges , Unity ; Thomas Vu , former Riot Games , and Robby Yung , Animoca Brands .
Fashion League presents a new era of fashion gaming in the metaverse and brings its users a unique virtual experience. This play-and-earn game simulates a mobile fashion shop where players can build and expand their own clothing store and become virtual 3D fashion designers. Users can design, sell, trade and rent their creations to other players, participate in design competitions and create their own fashion NFTs. Virtual money is earned through the different game modes and can be converted into crypto during conversion events. To learn more, visit https://playfashionleague.io join their Discord and follow Fashion League on Instagram and Twitter.
Since 2007, Concept Art House (CAH) has provided art and support for many of the top gaming and entertainment companies in the world. It has shipped over 1,000 games and collectibles with the world's most influential brands. With those deep roots in gaming, including franchises such as ROBLOX and Fortnite, CAH has evolved to focus solely on NFTs and has successfully pivoted to play a major role in the creation of web3 and the metaverse ecosystem. To that end, CAH has created NFTs for Frank Miller's Sin City, UFC, the International Olympics Committee (IOC), the NFL, and Gucci. CAH is headquartered in San Francisco with offices in Shanghai and Chengdu . Its partners and investors include Dapper Labs, Gala Games , and Animoca Brands.
Website: www.conceptarthouse.com
Twitter: www.twitter.com/conceptarthouse
Instagram: www.instagram.com/conceptarthouse
Facebook: www.facebook.com/Conceptarthouse
Media Contacts
Fashion League: Mary Victoria Moreno, maryvictoria@angle42.co
Concept Art House : Matt Yemma , myemma@peaksstrategies.com
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East Side Games Group (TSX: EAGR) (OTC: EAGRF) (" ESGG " or the " Company "), Canada's leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC's critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.
Watch the launch trailer here .
the office (CNW Group/East Side Games Group)
" The Office: Somehow We Manage offers players the chance to immerse themselves in iconic moments from the series and connect with their favorite characters like never before," said Darcy Taylor , Chief Executive Officer of ESGG. "Fans of The Office will absolutely feel the nostalgia through this new game."
" The Office: Somehow We Manage reimagines the cast as vibrant, animated characters for the first time, bringing a fresh new experience to The Office fans everywhere," said Jim Molinets , SVP of Production, Universal Games and Digital Platforms. "The game will transport players into well-known and hilarious episodes that have resonated with so many over the years and let them 'clock in' even more time with their favorite Dundler Mifflin employees."
The Office: Somehow We Manage will allow fans to relive memorable moments from the show like they've never seen them before – animated, all while tapping their way to record profits to save the Scranton Branch from downsizing. Featuring accessible gameplay for all types of players, this narrative idle tapper will give players the chance to unlock and upgrade iconic characters and their desks all the while participating in monthly special events for additional in-game rewards.
Tap, upgrade, and build desks for favorite characters from the hit NBC comedy The Office , including Prison Mike, Farmer Dwight, Pretzel Day Stanley, and of course, Three Hole Punch Jim, all appearing in animated form for the first time.
Click through memorable episodes in this free-to-play game, like "The Dundies" and "Dinner Party." Take a seat in Michael's office, get in line for Pretzel Day, or spend the weekend at Schrute Farms. Oh, and watch out for Kevin's famous chili! Additional episodes from all nine seasons of the show will be added to the game on a regular basis.
In-game events will introduce new versions of characters and more memorable moments, along with weekly and monthly special events inspired by elements from the show.
Manage Dunder Mifflin Scranton with the help of the whole branch! Get new leads and tap away as the in-game rewards start rolling in. Just make sure Michael doesn't spend the surplus on a new plasma TV!
Players can now run the world's best mid-size regional paper company branch in The Office: Somehow We Manage , available now on iOS and Android.
Visual assets for the game, including key art and logos, can be found in the online press kit .
East Side Games Group (formerly operating under the name "LEAF Mobile Inc.") is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: Archer: Danger Phone, Bud Farm Idle Tycoon, Cheech & Chong Bud Farm , The Goldbergs: Back to the 80s, It's Always Sunny: The Gang Goes Mobile and Trailer Park Boys Grea$y Money , RuPaul's Drag Race Superstar and T he Office: Somehow We Manage .
We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. For further information, please visit: www.eastsidegamesgroup.com and join our online communities at LinkedIn , Twitter , Facebook , and Instagram .
Additional information about the Company continues to be available under its legal name, LEAF Mobile Inc., at www.sedar.com .
Produced by Universal Television in association with Deedle-Dee Productions and Reveille Productions, The Office is a groundbreaking mockumentary television series that follows the daily lives of the employees of the Scranton branch of Dunder Mifflin, a fictional paper company. All nine seasons of the Emmy® Award-winning series are available exclusively on Peacock.
Peacock is NBCUniversal's streaming service. Peacock delivers a world-class slate of exclusive originals, on-demand libraries of hit TV shows, plus critically acclaimed films from the vaults of Universal Pictures, Focus Features, DreamWorks Animation, Illumination and Hollywood's biggest studios. In addition, Peacock taps into NBCUniversal's unmatched ability to deliver a broad range of compelling topical content across news, sports, late-night, Spanish-language and reality. NBCUniversal is a subsidiary of Comcast Corporation.
Universal's Games and Digital Platforms group leverages the vast portfolio of IP and characters from NBCUniversal. The Games and Digital Platforms group is a business unit of Universal Brand Development, which is chartered with globally expanding the company's intellectual properties, franchises, characters and stories through innovative physical and digital products, content, and consumer experiences. The company's extensive portfolio includes properties created by Universal Pictures, Illumination, DreamWorks Animation and NBCUniversal Television and Streaming. Universal Brand Development is part of NBCUniversal, a subsidiary of Comcast Corporation. www.universalbranddevelopment.com .
Forward-looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
east side games logo (CNW Group/East Side Games Group)
SOURCE East Side Games Group

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– Asetek reported second-quarter revenue of $16.9 million compared with $23.2 million in the same period of 2021. First-half 2022 revenue was $30.8 million compared with $48.2 million in the same period of 2021. The change in both periods mainly reflects fewer shipments of Gaming and Enthusiast products.
Gross margin was 42% for the second quarter and 40% in the first half of 2022 compared with 42% and 43% in the same periods of 2021. Second quarter margin improved from the first quarter due to the mix of product shipments and reduced cost prices. Margin for the first half was impacted by higher component costs due to continued shortages, changes to exchange rates, increased shipping costs from supply chain disruptions and changed product mix.
"We have taken steps to reduce costs and drive efficiencies in response to a prolonged challenging business climate for the Gaming & Enthusiast business and reduced short-term demand visibility amid rising inflation and interest rates, as reflected in the recent suspension of our full-year guidance," said André Sloth Eriksen, CEO and founder of Asetek.
"While the launch of our SimSports products has been impacted by the same challenges combined with inability to meet early demand because of Chinese lockdowns , we continue to receive strong feedback from the sim racing community, reflected in incoming orders. We aim to widen our product program with new launches in 2022 and 2023 and remain confident in the long-term growth potential as gamers and enthusiasts continue to demand new, improved equipment and experiences within traditional gaming and sim racing," Sloth Eriksen continued.
Operating income was $0.1 million and adjusted EBITDA was $1.3 million in the second quarter of 2022, compared with operating income of $1.9 million and adjusted EBITDA of $3.2 million in the second quarter of 2021. First-half 2022 operating loss was $1.8 million and adjusted EBITDA was positive $0.4 million , compared with operating income of $5.4 million and adjusted EBITDA of positive $7.9 million in the same period of 2021.
At June 30, 2022 , Asetek had working capital of $11.8 million , of which $11.4 million was cash and cash equivalents. Long-term debt totaled $1.1 million . During the first half of 2022, the Company invested $7.0 million in property and equipment, including development of a new headquarters facility, and $2.0 million in capitalized costs for the development of new products. The Company drew $4.4 million on a construction credit line in the first half.
To reduce costs and drive efficiencies, the Company recently reduced headcount with an expected annual cost reduction of $4 to $5 million with full effect during the second half of 2022. Total reductions across all business lines amount to 52 employees the past year.
The Company announced that both Asus and EVGA will integrate Asetek's high performance liquid cooling technology into new products utilizing NVIDIA's latest Ampere GPU architecture. ASUS' new ROG Strix LC GeForce RTX 3090 Ti OC edition graphics card and EVGA's new GeForce RTX 3090 Ti FTW3 ULTRA HYBRID GAMING graphics card each provide extreme performance and near-silent operation for competitive gamers and enthusiasts.
In March, the Company began shipping orders for the first of its SimSports products – Invicta Sim Racing Pedals, along with its RaceHub software for quick and easy adjustments and calibration. This initial offering, which has received highly positive reviews, provides competitive SimSports gamers with full immersion and the feeling of a real racecar. In April, the Company introduced its new high-performance Forte Throttle and Brake Pedal Set for immersive racing at a lower price point. SimSports revenue totaled $1.0 million in the second quarter of 2022.
During the quarter, the Company formed a collaboration with Formula One racer Kevin Magnussen as a brand ambassador for Asetek SimSports. The Company also announced a sponsorship agreement with GetSpeed Race Team, a top contender in the 24-hour Nürburgring race.
The Company has temporarily shifted development resources from Gaming & Enthusiast to drive SimSports product development with the aim to introduce new products later in 2022.
Rising inflation and interest rates have recently added to the continued impact of pandemic lockdowns, supply chain disturbances and general geo-political tensions, delaying a normalization of the business climate. The effects are reduced discretionary consumer spending with decreased demand for the Company's Gaming & Enthusiast products. In addition, the Company is experiencing reduced visibility, caused by significantly increased volatility, in the forecasts provided by OEM customers for the second half of the year.
Due to the increased uncertainty, the Company has suspended its revenue and operating income guidance for 2022, beyond that revenue and operating income will likely be below previously communicated expectations. Previous guiding framed a revenue development in the range between a 5% decrease and 15% increase, and operating income in the range from – $1 to +$5 million. The Company will resume guidance when it has a more certain basis for providing full-year expectations.
Conference call and webcast today, Thursday, 11 August at 2:00 PM CEST
CEO André Sloth Eriksen, COO John Hamill and CFO Peter Dam Madsen will present the Company's results at 2:00 PM CEST and invites investors, analysts and media to join the presentation. The presentation is expected to last up to one hour, including Q&A, and can be followed via live webcast or conference call.
Webcast – audio and slide presentation:
Please join the results webcast via the following link: https://streams.eventcdn.net/asetek/2022q2
Conference call – audio only:
Please dial in 5-10 minutes prior using the phone numbers:
+45 3271 4988
+47 2198 4292
United Kingdom
+44 (0) 203 059 58 69
+49 (0) 69 566 037000
United States of America
+1 760 294 1674
The second quarter 2022 earnings release, the half-year report and presentation will be made available online at www.asetek.com and www.newsweb.no , as well as through news agencies. A recorded version of the presentation will be made available at www.asetek.com approximately two hours after the presentation has concluded.
The conference call lines will be opened for participants to ask question at the end of the presentation. Questions can also be submitted through the online webcast during the presentation.
For questions or further information, please contact:
CEO and Founder André S. Eriksen, +45 2125 7076, email: ceo@asetek.com
CFO Peter Dam Madsen , +45 2080 7200, email: investor.relations@asetek.com
About Asetek:
Asetek (ASTK.OL), a global leader in mechatronic innovation, is a Danish garage-to-stock-exchange success story. Founded in 2000, Asetek established its innovative position as the leading OEM developer and producer of the all-in-one liquid cooler for all major PC & Enthusiast gaming brands. In 2013, Asetek went public while expanding into energy-efficient and environmentally friendly cooling solutions for data centers.  In 2021, Asetek introduced its line of products for next level immersive SimSports gaming experiences. Asetek is headquartered in Denmark and has operations in China , Taiwan and the United States .
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Asetek Q2 2022 Report
Asetek Q2 2022 Presentation
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Today, Sensorium is premiering the world's first in-engine metaverse streaming channel . Designed to introduce people to the vastness of the Sensorium Galaxy metaverse, now only accessible in Beta mode, this 247 livestream experience showcases a series of exclusive Empyreal Parties featuring the company's original AI artists.
Sensorium releases world's first metaverse streaming channel. (PRNewsfoto/Sensorium Corporation)
Accessible from any web browser, the first Empyreal Parties take viewers on tour to the Meteor Vortex, a far-off location in the metaverse where AI-driven DJs Natisa Sitar, Kàra Màr, and Ninalis host original performances.
Last year, Sensorium pioneered the development of virtual artists powered by artificial intelligence with the debut of Kàra Màr's " Anthropic principle " music album — the first-ever created entirely by an AI-driven character and made available on Apple Music, Spotify, and SoundCloud. The generative music engine behind Sensorium Galaxy virtual artists allows them to create distinctive tracks combining 60+ genres.
Aside from their ability to generate high-quality music, all virtual performers combine genetic algorithms and reinforcement learning, enabling them to interact with the audience by establishing surprisingly natural, fully unscripted conversations through the Sensorium Galaxy Mobile App. The company's virtual beings are already regularly featured at some of the world's most influential conferences and festivals — from WebSummit to SXSW and Sonar — and were tested with intricate dialogs by journalists from VentureBeat and PC Gamer.
Following the Meteor Vortex event, two other Empyreal Parties will be released, displaying the volcanic surface of PRISM world and the visually appealing interiors of Sensorium Starship. Every new party is an opportunity for people to preview a full-fledged version of the metaverse without needing a VR headset. In addition to the browser version, the audience will soon be able to tune in to Empyreal Parties via Sensorium mobile app.
With the global launch of Sensorium Galaxy's VR mode, metaverse users will gain access to the shows of chart-topping artists like David Guetta , Black Coffee, Steve Aoki , and Armin van Buuren among others.
About Sensorium
Founded in 2018, Sensorium is a leading metaverse developer that leverages the latest AI and XR solutions to deliver immersive high-end events and experiences. In Sensorium Galaxy metaverse, users can explore vast worlds filled with activities, ranging from games to mediation practices, socialize with other users, creators and virtual beings.
Sensorium Galaxy metaverse is being built in partnership with the world's leading entertainment powerhouses, including Jay-Z's Roc Nation and Yann Pissenem's The Night League. The exclusive performances featured in Sensorium Galaxy are developed in collaboration with chart-topping artists – David Guetta , Armin van Buuren , Steve Aoki among others.
The platform will be accessible through the most widely available interfaces. Users can tune in using VR headsets to get a sense of true immersion, use a PC to access an augmented reality experience or download the mobile application to watch streams, build unique NPCs and communicate with them.
Photo – https://mma.prnewswire.com/media/1875030/Sensorium_Release.jpg
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SOURCE Sensorium Corporation
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Gamelancer Gaming Corp. (CSE: GMNG) (OTCQB: WDRGF) (FRA: 64Q) ("Gamelancer" or the "Company"), a mobile-focused entertainment company providing brands access to the global gaming audience through its owned and operated channels, is pleased to announce that its owned and operated network has reached over 30,000,000 followers. Owning the largest multi-channel gaming network on TikTok, Gamelancer owns marquee channels on TikTok, Instagram and Snapchat including @Gaming, @Gamer, @Gamelancer, @EGirl among others, totaling 29 channels across the aggregate network.
Gamelancer Logo (CNW Group/Gamelancer Gaming Corp.)
Since 2019 the company has focused on building the largest gaming network on TikTok, with over 25,600,000 of Gamelancer's network being on the world's fastest growing social platform – ( https://www.businessofapps.com/data/most-popular-apps/ ).
TikTok's demographics demonstrate a deep entrenchment in the North America , Europe , Asia and Australasia. 57% of TikTok's users worldwide identify as female, 43% identifying as male, with the US demonstrating higher than average female engagement, with 62.1% identifying as females.
TikTok usership is heavily consolidated in the GenZ and Millennial demographic, with 43.7% of users between the ages of 18-24, 31.9% between 25-34, and 13% between the ages of 35-44. Gamelancer's multi-channel network, which is the largest gaming network on TikTok globally, follows similar trends and has an average user growth rate of over 40,000 new people per day.
"It's been an incredible journey building Gamelancer's massive gaming community alongside our creator network and partners. We've hit the 30,000,000-follower milestone by utilizing our unique creator-first approach that has put us at the forefront of the entire gaming culture. We will continue to collaborate with our network and community to provide gamers with all the content, games, tools, and experiences needed to enhance their lives both in-game and IRL. TikTok has been the most downloaded app in the world since March – ( https://www.businessofapps.com/data/most-popular-apps/ ). The ebbing of media dollars chasing consumers on other major platforms has witnessed a mass budget migration guided by agencies and their brands towards TikTok, as the GenZ demographic has resoundingly chosen TikTok as the social media platform of the future. – Darren Lopes , Co-Founder & Chief Product Officer, Gamelancer Gaming Corp.
Acquired by Wondr Gaming, Gamelancer Gaming Corp. is a growing mobile-focused social media network in gaming – generating over 1.2 billion monthly video views across its 29 owned and operated channels. With over 30,000,000+ followers on TikTok, Instagram, and Snapchat, predominantly located in the US, Canada , the UK, and Australia , Gamelancer sells direct and programmatic media across its network to the world's largest brands. With advanced user data analytics, we provide our audience curated content relevant to the GenZ & Millennial gaming community, which allows brands unparalleled access to the largest media inventory in gaming across TikTok, Instagram, and Snapchat. Gamelancer also monetizes across its variety of Snapchat Discover channels with monthly recurring revenue in partnership with Snapchat.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward looking statements and forward looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward looking statements or information. More particularly and without limitation, this news release contains forward looking statements and information relating to the future business of the Company, the potential of the Company's products and services, further business from the Company's clients, industry outlook and potential and other matters. The forward looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward–looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward–looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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SOURCE Gamelancer Gaming Corp.

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Tavern owners to play critical role in free-to-play, turn-based MMORPG from premier team that created titles such as Assassin's Creed Valhalla, Assassin's Creed Origins, For Honor, Lineage 2, Skull and Bones, Far Cry 6, and The Witcher 3.
– Always Imagine, LLC and Radical Labs today announced the sale of deeds for magic taverns in the forthcoming massively multiplayer online role-playing game (MMORPG) Dark Taverns . A twenty-four-hour pre-mint begins today at 1:00pm ET and will open to the public at the same time tomorrow. Tavern owners will secure a fifty percent discount on all future downloadable content and will be granted a Cast Key unlocking three free items such as wings, mounts and weapons. Sales are limited to ten per wallet. The game is free to play and win, and cannot be won by purchasing items.
Created by a thirty-nine-member team of leading game developers – many formerly of Ubisoft and NCSoft with legendary credits – the game will soon be available worldwide on PC and Mac, followed by additional platforms. Dark Taverns takes inspiration from all-time great titles such as The Legend of Zelda , Chrono Trigger , and World of Warcraft , combining their best attributes with modern innovations, including the opportunity to own items earned in-game, and trade or sell them as NFTs.
Playing a critical role, tavern owners – known as Keepers – are charged with ensuring the proper use of magic emanating from their tavern to expel evil from the world. Keepers will host players assigned to spawn in their tavern, offer them refreshment, rest and healing, room rentals, storage, and a home base for guilds. The 10,000 unique taverns come in three sizes and can be extensively customized with new blueprints, allowing Keepers to build their following, provide entertainment in public and private spaces, and earn rewards for their success.
The game offers a broad range of playing modes from cloaked individual, team or guild member, to the "hardcore" setting to automatically accept all challenges in MMO.
Dark Taverns plans to introduce a playable version later this year, and expect to launch the game for PC, Mac, and additional platforms in early 2023. To purchase a tavern and learn more please visit https://darktaverns.com/ .
Dark Taverns is a free-to-play, turn-based MMORPG from a premier team that created titles such as Assassin's Creed Valhalla , Assassin's Creed Origins , For Honor , Lineage 2 , Skull and Bones , Far Cry 6 , and The Witcher 3 . In the expansive world of Dark Taverns , the magical density and difficulty of each location ebbs and flows, providing an evolving challenge for players of all skill levels. Dark Taverns combines nostalgic elements of landmark games with seamless integration of ownership of items earned in-game, and transferable off world as NFTs. Join the Dark Taverns community on Discord at discord.gg/darktaverns and follow @DarkTaverns on Twitter.
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X1 Esports and Entertainment Ltd. (CSE:XONE) ("X1" or the "Company"), a video games and media portfolio company which owns and operates a growing Esports franchise and a leading creator economy business is pleased to announce, further to its news release dated July 25, 2022, it has closed its previously announced acquisition of the assets comprising of ShiftRLE ("Shift"), an online news outlet focused on the popular video game, Rocket League.
In connection with the acquisition of the assets comprising of the business of Shift, the Company has entered into consulting agreements with four vendors, who as key personnel will be responsible for the continued operation of Shift, and distributed to such persons 333,333 common shares in the capital of X1 with a deemed issue price of CAD$0.45 per common share (the "Consideration Shares"). In addition to the Consideration Shares, the Company is paying a cash purchase price to the vendors of US$50,000 cash, of which US$25,000 was paid in connection with the closing of the acquisition and US$25,000 payable within 45 days after the closing date. The vendors will also be eligible to receive earn-out payments for 36 months from the closing date as payment of a 7% share of gross revenues Shift earns to a maximum of US$250,000 (the "Earnout"). The Earnout may be paid in cash or common shares at the election of the Company, at a deemed price equal to the fourteen day trading price prior to the payment date or such other price as may be required by the policies of the Exchange .
The Consideration Shares will be subject to subject to a CSE imposed hold period of four months from the date of issuance, and a contractual resale restriction that will result in 25% of the Consideration Shares being released six (6) months following the closing date, and 25% being released at six (6) month intervals thereafter. For further information related to the acquisition terms, please the Company's news release dated July 25, 2022.
" We are thrilled to have closed on the Shift acquisition," said Mark Elfenbein, CEO of X1. " Not only has the Shift community grown considerably over the past year, but we believe that Rocket League has tremendous global appeal with fans looking for the content that Shift can offer."
Information Related to ShiftRLE
Las Vegas-based ShiftRLE, led by co-founders Achilleas Fotiou and Jalen Jones, has demonstrated consistent user audience growth since launching in 2020. Shift currently reaches over 8 million impressions during the seasonal period of RLCS, while seeing growth of 14 million impressions during transfer periods where the roster news cycle is most active. With operations in America and Europe, the organization has established an international presence in the Esports industry.
" As Rocket League continues its climb to becoming a household name in the esports and gaming worlds, our team at Shift will remain committed to being a part of it in multiple facets. X1's investment should not only reflect their belief in us, but the potential that Rocket League has as a whole. We're extremely excited to continue building Shift and to fully realize our aspirations of becoming that multimedia company that will stick around for years to come".
Rocket League is one of the world's leading esports 2 . With 5-minute games that feature non-stop action, the car-soccer hybrid game has seen significant growth with players across demographics since its launch, now seeing global averages of 80M players per month, according to Active Player 3 .
Shift is an independent news source for Rocket League fans. It first rose to prominence by getting exclusive, behind-the-scenes information on Rocket League roster moves and tryouts before they were public knowledge. Shift plays a key role in ensuring the conversation around Rocket League esports continues beyond the pitch through coverage and insight regarding roster transactions and general esport news, ensuring fans stay engaged even during slower competitive periods.
About X1
X1 Esports and Entertainment is a video game and media portfolio company which owns and operates a growing esports franchise, RixGG. The business of the Company is the competitive playing of video games by teams for cash prizes, and operations ancillary to such competition, such as merchandising and the hosting of tournaments.

For more information, please contact:
Mark Elfenbein
CEO and Director
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information in this news release includes the the ability of ShiftRLE to integrate into the X1 portfolio as anticipated or at all, the growth of ShiftRLE and the establishment of ShiftRLE as a multimedia company with longevity in the space, and the achievement of any revenue by ShiftRLE. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations, as well as a failure to achieve the growth anticipated, together with or apart from Shift,, changing market and industry conditions, the ability of each of X1 and ShiftRLE to implement their respective business strategies, including expansion plans,, the continued relevance of ShiftRLE's media capabilities, competitive conditions, adverse industry events, availability of capital and financing as needed, and the continued relevance of Rocket League. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. 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. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
1 "Rocket League: Rocket League Live Player Count and Statistics", Active Player, https://activeplayer.io/rocket-league/ (accessed: July 22, 2022).
2 "Top 15 most popular PC games of 2022", Active Player, https://activeplayer.io/top-15-most-popular-pc-games-of-2022/ (accessed July 22, 2022).
3 See note 1.

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News Provided by GlobeNewswire via QuoteMedia

Toronto's NBA 2K team plays with innovative gaming tech on the virtual court
Today, LG Electronics Canada (LG) is proud to announce that the LG UltraGear™ monitor (27GP950-B) has been named the official monitor for Raptors Uprising Gaming Club, the NBA 2K League affiliate of the Toronto Raptors. The announcement further extends the longstanding partnership between LG and Maple Leaf Sports and Entertainment (MLSE) within the esports domain.
To celebrate the vibrant and lively community of esports fans and players, LG is continuing to create moments that bring fans together. Having the right technology is a top priority for gamers, and for an inspiring team like Raptors Uprising, the LG UltraGear™ monitor has the capabilities and features to meet those needs.
"Raptors Uprising are committed to continually growing our competitive edge and giving our fans an immersive experience," said Sumit Arora , Vice President, Strategy, Analytics & Esports. "With its innovative technology and features, the LG UltraGear™ monitor is an important tool in accomplishing this goal and ensuring our players are performing at their best for our fans."
The LG UltraGear™ monitor is built for the gamer. With an ultra-fast speed of 144Hz, it generates smooth image transitions and rapid response times. The FreeSync™ premium technology enables gamers to experience fluid movement, which is ideal for Raptors Uprising players, as it allows for a more life-like experience.
For gamers who want to immerse themselves in the experience, one of the most impactful features of the LG UltraGear™ monitor is that it supports Nano IPS technology to express high-fidelity colour to provide realistic and vivid visuals. These details make the virtual experience of shooting hoops feel true to life.
Raptors Uprising's new gaming facility, Bell Gaming Centre, located on Toronto's Exhibition Grounds has been decked out with LG UltraGear™ monitors to give players the ultimate gaming experience, whether they are competing for a spot in the playoffs or practicing.
The LG UltraGear™ monitor (27GP950-B) is available at Staples and Canada Computers, starting at $949.99* . *Not including applicable taxes and fees
LG Electronics Canada Inc. is the Canadian subsidiary of LG Electronics Inc., a US $56-billion global innovator in technology and consumer electronics headquartered in Seoul, South Korea . LG Electronics Canada, with offices in Toronto and Vancouver , is comprised of four business units – Home Appliance, Home Entertainment, Business Solutions and Air Solutions. LG Electronics Canada is focused on delivering award-winning products known for blending style and technology. These innovative products include TVs, audio solutions and portable devices, home appliances, residential and commercial air solutions, computer monitors and laptops, and industry-leading OLED and LED digital display solutions. For more information, please visit lg.ca .
SOURCE LG Electronics Canada

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2022/09/c9926.html
News Provided by Canada Newswire via QuoteMedia

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