Core Insights - Enthusiast Gaming Holdings Inc. reported a significant improvement in financial performance, achieving adjusted EBITDA of $1.2 million for the nine months ended September 30, 2025, compared to a loss of $0.1 million in the same period last year [1] - The company completed the sale of its Direct Sales Media Business in Q3 2025, resulting in a gain of $5.5 million [1] - The gross margin for Q3 2025 was 86.9%, an increase of 1,810 basis points from Q3 2024 [1] Financial Performance - Revenue for Q3 2025 was $7.3 million, a 32% decrease from $10.8 million in Q3 2024, primarily due to a reduction in low-margin third-party network websites [6][10] - Gross profit decreased to $6.4 million in Q3 2025 from $7.4 million in Q3 2024, but gross margin improved to 86.9% from 68.8% [6][11] - Operating expenses were reduced to $6.6 million in Q3 2025, down from $7.8 million in Q3 2024, reflecting efforts to establish a more efficient operating model [6][10] Business Strategy - The company is focusing on a product-first strategy, aligning operations around its core product portfolio and enhancing its R&D capabilities [2][4] - Enthusiast Gaming aims to expand its feature offerings and broaden product relevance across various gaming titles and genres [5] - The company has seen a positive cash flow every month since July 2025, indicating a strong operational performance [3] Audience Engagement - In Q3 2025, the company served over 90 million gamers across its owned properties, marking an 11% increase quarter-over-quarter [3] - U.GG, one of the company's platforms, increased advertising revenues by 25.1% in Q3 2025 compared to Q2 2025, driven by improved user engagement [10] - Icy Veins experienced a 31.8% increase in users and a 27.9% increase in total time spent by gamers compared to Q2 2025 [10] Product Development - The company is set to launch new products and feature expansions over the next twelve months, leveraging proprietary technologies for competitive advantage [4] - TheSimsResource introduced a new LookBuilder tool, enhancing user engagement through real-time outfit previews [10] - Addicting Games updated its platform with a modern design and optimized performance, aiming to improve the mobile experience [10]

Core Points - Enthusiast Gaming Holdings Inc. announced the results of the Board of Directors election during its Annual General and Special Meeting of Shareholders held on October 28, 2025 [1] - All nominees listed in the management information circular dated September 15, 2025, were elected as directors [2] Voting Results - John Albright received 11,665,770 votes (91.70%) in favor and 1,056,302 votes (8.30%) withheld - Scott Michael O'Neil received 12,460,190 votes (97.94%) in favor and 261,882 votes (2.06%) withheld - Thomas Hearne received 12,219,980 votes (96.05%) in favor and 502,092 votes (3.95%) withheld - John Zorbas received 11,773,328 votes (92.54%) in favor and 948,744 votes (7.46%) withheld - Sara Slane received 12,040,309 votes (94.64%) in favor and 681,763 votes (5.36%) withheld - Jordan Gnat received 11,938,264 votes (93.84%) in favor and 783,808 votes (6.16%) withheld [3] Shareholder Votes on Other Items - The number of directors was set at six, with 37,367,246 votes (88.76%) in favor and 4,729,576 votes (11.24%) against - RSM Canada LLP was appointed as auditor for the ensuing year with 41,875,489 votes (99.47%) in favor and 221,333 votes (0.53%) against - The Issuance Resolution was approved with 12,174,502 votes (95.70%) in favor and 547,570 votes (4.30%) against [3] Company Overview - Enthusiast Gaming focuses on building tools, platforms, and experiences for gamers, with a portfolio that includes well-known digital properties such as U.GG, Icy-Veins, and TheSimsResource - The company generates revenue through programmatic advertising, subscriptions, and events, and aims to expand its owned intellectual property while deepening audience engagement [4]

Core Points - Enthusiast Gaming Holdings Inc. announced the results of the Board of Directors election held on October 28, 2025, during its Annual General and Special Meeting of Shareholders [1] - All nominees listed in the management information circular dated September 15, 2025, were elected as directors [2] Voting Results - John Albright received 11,665,770 votes (91.70%) in favor, with 1,056,302 votes withheld (8.30%) [3] - Scott Michael O'Neil received 12,460,190 votes (97.94%) in favor, with 261,882 votes withheld (2.06%) [3] - Thomas Hearne received 12,219,980 votes (96.05%) in favor, with 502,092 votes withheld (3.95%) [3] - John Zorbas received 11,773,328 votes (92.54%) in favor, with 948,744 votes withheld (7.46%) [3] - Sara Slane received 12,040,309 votes (94.64%) in favor, with 681,763 votes withheld (5.36%) [3] - Jordan Gnat received 11,938,264 votes (93.84%) in favor, with 783,808 votes withheld (6.16%) [3] Additional Shareholder Votes - The number of directors was set at six, with 37,367,246 votes (88.76%) in favor and 4,729,576 votes (11.24%) withheld/against [3] - RSM Canada LLP was approved as the auditor for the ensuing year with 41,875,489 votes (99.47%) in favor and 221,333 votes (0.53%) withheld/against [3] - The Issuance Resolution was carried with 12,174,502 votes (95.70%) in favor and 547,570 votes (4.30%) withheld/against [3] Company Overview - Enthusiast Gaming focuses on building tools, platforms, and experiences for gamers, with a portfolio that includes well-known digital properties such as U.GG, Icy-Veins, and TheSimsResource [4] - The company generates revenue through programmatic advertising, subscriptions, and events, and aims to expand its owned intellectual property while deepening audience engagement [4]

Core Points - Enthusiast Gaming Holdings Inc. is providing an update regarding the impact of the ongoing Canadian Union of Postal Workers strike on the delivery of proxy-related materials for its upcoming annual general and special meeting of shareholders [1][3] - The meeting is scheduled to be held virtually on October 28, 2025, at 1:00 p.m. Toronto Time [2] - The company completed mailing proxy-related materials on October 15, 2025, but delivery prior to the meeting is not guaranteed due to the postal strike [3] - Shareholders are encouraged to access electronic copies of the meeting materials available on SEDAR+ or request them directly from the company [5] Meeting Details - The meeting will cover several key matters including the approval of consolidated financial statements for the year ended December 31, 2024, the election of directors, and the appointment of auditors for the ensuing year [6] - A resolution will also be considered regarding the issuance of common shares upon the exercise of warrants held by Beedie Investments Ltd. [6] Proxy Submission - To accommodate potential mailing delays, the company will accept properly executed proxies submitted after the original deadline, as long as they are received by 5:00 p.m. on October 27, 2025 [4] - Shareholders who have not received their materials by mail are advised to contact their intermediaries or access electronic versions [5]

Core Points - Enthusiast Gaming Holdings Inc. is notifying shareholders about potential disruptions in receiving meeting materials due to the ongoing Canada Post strike [1][2] - The annual general and special meeting is scheduled for October 28, 2025, at 1:00 p.m. Toronto Time [1] - Shareholders can access meeting materials electronically on the Company's SEDAR+ profile and Odyssey Trust website [1] Shareholder Information - Registered shareholders can request a control number or assistance with voting through the "Chat with Odyssey Trust" function or by contacting Odyssey Trust Company [3] - Beneficial shareholders should contact their brokerage firm to request a proxy if they have not received their information [4] - Requests for paper copies of the meeting materials should be made by October 14, 2025, to ensure timely delivery [5] Company Overview - Enthusiast Gaming focuses on building tools, platforms, and experiences for gamers, with a portfolio that includes well-known digital properties [6] - The Company generates revenue through programmatic advertising, subscriptions, and events, and aims to expand its owned intellectual property and deepen audience engagement [6]

Company Overview - Enthusiast Gaming Holdings Inc. is a leading digital publisher focused on creating tools, platforms, and experiences for gamers [3] - The company owns a portfolio of digital properties, including U.GG, Icy-Veins, TheSimsResource, PocketGamer, Addicting Games, and Fantasy Football Scout, as well as the B2B event series PocketGamer Connects [3] - Revenue is generated through programmatic advertising, subscriptions, and events, with a focus on expanding owned intellectual property and enhancing direct audience engagement [3] Upcoming Events - The annual general meeting of Enthusiast Gaming is scheduled to be held virtually on October 28, 2025 [1] - The Toronto Stock Exchange has granted an extension for the company to hold its annual general meeting by this date [2] - Meeting materials will be available on the company's profile on SEDAR+ and its website around September 26, 2025 [2]

Company Overview - Enthusiast Gaming Holdings Inc. is a leading digital publisher focused on creating tools, platforms, and experiences for gamers [3] - The company owns and operates a portfolio of digital properties, including U.GG, Icy-Veins, TheSimsResource, PocketGamer, Addicting Games, and Fantasy Football Scout, as well as the B2B event series PocketGamer Connects [3] - Revenue is generated through programmatic advertising, subscriptions, and events, with a focus on expanding owned intellectual property and enhancing direct audience engagement [3] Annual General Meeting - The annual general meeting is scheduled to be held virtually on October 28, 2025 [1] - The Toronto Stock Exchange has granted an extension for the meeting to be held on or before this date [2] - Meeting materials will be available on the company's profile on SEDAR+ and its website around September 26, 2025 [2]

Core Points - Enthusiast Gaming Holdings Inc. has entered into a binding letter of intent with Vertiqal Studios Corp. to acquire its Direct Sales Business Line for cash consideration of C$900,000 [1][2] - The transaction includes the assumption of all existing and ongoing liabilities of the Direct Sales Business Line, which had a net liability position of approximately US$2.6 million as of June 30, 2025 [2] - The closing of the transaction is expected to occur on or about September 5, 2025 [3] Company Overview - Enthusiast Gaming builds tools, platforms, and experiences for gamers, operating a portfolio of digital properties including U.GG, Icy-Veins, and others [4] - The company generates revenue through programmatic advertising, subscriptions, and events, focusing on expanding its owned intellectual property and enhancing direct engagement with its audience [4]

Group 1 - Enthusiast Gaming Holdings Inc. has successfully closed a debt financing transaction, receiving a non-revolving term loan of $2,000,000 [1] - The transaction was arranged under a forbearance and first supplemental credit agreement involving the Company, its subsidiaries, Beedie Investments Ltd. as the administrative and collateral agent, and lenders led by Beedie Capital [1] - The agreement was finalized on July 10, 2025, with further details available in the Company's press release dated the same day [1] Group 2 - Enthusiast Gaming operates a portfolio of digital properties that are well-known in the gaming industry, including U.GG, Icy-Veins, TheSimsResource, and others [2] - The Company generates revenue through programmatic advertising, subscriptions, and events, while focusing on expanding its owned intellectual property and enhancing direct engagement with its audience [2]

Core Points - Enthusiast Gaming Holdings Inc. has announced a debt financing and forbearance transaction aimed at supporting its recapitalization and long-term business objectives [1] - The company is focusing on its high-performing digital gaming media assets following the divestment of its direct sales business line [1][2] - A strategic review process has been initiated to explore opportunities for strengthening the balance sheet and unlocking shareholder value [2] Debt Financing and Forbearance Agreements - The transaction includes a non-revolving term loan of $2,000,000, which will be used for working capital purposes [5] - The company has entered into forbearance agreements with its lenders, allowing them to forbear from demanding repayment of outstanding debts [6][7] - A cost-cutting plan is to be implemented to achieve annualized cost savings of at least $3,000,000 [8] Terms of the Term Loan and Warrant Issuance - The term loan carries a fixed interest rate of 16.0% per annum, with specific conditions for interest payments [9] - The company plans to issue 6,005,178 warrants to lenders, with an exercise price set at $0.083, a 15% premium over the average price of common shares [11] - The term loan is due by July 12, 2028, and can be prepaid without penalty before March 31, 2026 [9][10] Strategic Review and Special Committee - A Special Committee has been formed to oversee the strategic review process and evaluate potential alternatives [3][4] - Oakvale Capital Partners LLP has been engaged as the financial advisor for the strategic review [4] - The goal is to enter into a definitive agreement for a strategic transaction by the end of 2025 [4]