Esports Entertainment Group, Inc. (Esports Entertainment Group) has entered into a material definitive agreement with its Chief Financial Officer, who is an accredited investor, to issue and sell 100 shares of newly created Series E Preferred Stock at $10.00 per share, totaling $1,000. This transaction closed on January 5, 2024, the same day the company filed a certificate of designations with the Nevada Secretary of State, outlining the rights and restrictions of the Series E Preferred Stock. Each share of Series E Preferred Stock carries 6,000,000 votes and will vote on proposals related to increasing the authorized shares of Common Stock or adjourning related meetings. The Series E Preferred Stock is non-convertible, has no dividend rights, and no rights to the company's assets upon...Show More

Esports Entertainment Group, Inc. (Esports Entertainment Group) has entered into a material definitive agreement with its Chief Financial Officer, who is an accredited investor, to issue and sell 100 shares of newly created Series E Preferred Stock at $10.00 per share, totaling $1,000. This transaction closed on January 5, 2024, the same day the company filed a certificate of designations with the Nevada Secretary of State, outlining the rights and restrictions of the Series E Preferred Stock. Each share of Series E Preferred Stock carries 6,000,000 votes and will vote on proposals related to increasing the authorized shares of Common Stock or adjourning related meetings. The Series E Preferred Stock is non-convertible, has no dividend rights, and no rights to the company's assets upon liquidation or other corporate events. It can be redeemed at the discretion of the Board or upon the effectiveness of the Authorized Share Increase Proposal at the original purchase price. Additionally, on January 3, 2024, director Chul Woong Lim announced his resignation from the Board and will not stand for reelection at the 2023 Annual Meeting. His resignation is not due to any disagreements with the company.