TORONTO, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Millennial Esports Corp. ("Millennial" or the
"Company") (TSX VENTURE: GAME, OTCQB: MLLLF) is pleased to announce that it has appointed Stephen Shoemaker to the dual
roles of CEO and President commencing on August 1, 2018, following the successful conclusion of Bob Reif’s tenure as President and
former CEO Alex Igelman’s transition to Executive Chairman.
“We are very pleased to have an executive of the caliber of Steve Shoemaker assume additional leadership
responsibilities at this crucial time in the growth of the Company”, said Mr. Igelman. “Having worked closely with Steve over the
last few months, I know we share the same vision for the Company and I am confident that he is the right person to lead Millennial
into the exciting next chapter.”
On making the transition to Executive Chairman, Igelman said: “I will continue to lead from the Board and work
closely with management on the Company’s strategy, vision, and direction. I will now be free to focus on the future growth of the
Company, as opposed to daily operations. I also want to personally thank Bob Reif and his team at The Audible Group for their
valuable contributions to the Company and for all their hard work and effort during the past year.”
“The Audible Group helped provide Millennial with the foundation it needs to scale and grow its business,” said
Mr. Shoemaker. “I look forward to taking Millennial to the next level following the integration and business processes that The
Audible Group has put in place.”
Mr. Shoemaker previously served as Head of Global Finance for Millennial, and steps into his new positions with
a wealth of relevant experience. An accomplished senior executive with more than thirty years of financial and operations
management experience, Mr. Shoemaker has already played a key role in focusing the Company on its core automotive Esports assets
and reducing corporate overhead by more than half when compared to the first half of 2018. With expertise in the technology and
hospitality industries, Mr. Shoemaker has built companies in the U.S., Canada, Europe, and Asia, where he led finance teams in
global organizations with high growth profiles, scale, and operating complexity.
Having united Millennial’s unique assets and diverse business units into a centralized operating structure, Mr.
Reif and The Audible Group concluded its integration of Millennial’s acquired business lines into a streamlined team working across
four countries by leveraging the strengths of each acquisition and bringing to life the innovative vision of Millennial CEO and
Founder Alex Igleman.
“Working with Alex and Steve during Millennial’s hyper growth stage enabled The Audible Group to demonstrate its
capabilities and apply its personnel, resources, and experience to Millennial’s growth in Esports,” said Bob Reif. “We have had the
unique ability to see all sides of the esports landscape and to work with some remarkable talent. We’re excited to see Millennial
continue its story of innovation as it continues to expand its operations in Esports.”
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.
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