ESE and Metapro Partner with Virtual Driftmasters to Launch one of the World's Largest Esport Racing Events

Registration Now Live for the Virtual Driftmasters Series at www.vdm.gp

VANCOUVER, BC / ACCESSWIRE / April 4, 2024 / ESE Entertainment Inc. (TSXV:ESE)(OTCQX:ENTEF) ("ESE" or the "Company"), a gaming company that provides a range of services to leading video game developers and publishers, is pleased to announce to announce its strategic collaboration with Metapro as a technology partner for the Virtual Driftmasters Series.

For ten years, Drift Masters has captivated audiences with exhilarating drift racing events across Europe. The 2023 Drift Masters Finale had a record 55,000 drift fans attend in person at the PGE Stadium in Europe.

Online broadcasts of the events have reached over 7 million viewers worldwide. Now, by embracing digital motorsports, Drift Masters aims to replicate this excitement in the virtual world, starting with the inaugural Virtual Driftmasters competition.

Virtual Driftmasters is a digital racing competition within the video game called Assetto Corsa. The role of ESE Entertainment and Metapro is to transform the traditional motorsport event into a fully online esports event. Players from around the globe can register to compete in virtual races that mimic the actual real-world drift racing tracks. The event is designed for gaming enthusiasts and a wider audience, including fans of traditional motorsport, offering a new way to engage with the sport.

Registration opened on April 2nd, at 18:00 CET, and within hours of opening registration, the event experienced several hundred professional competitors from over 50 countries signing up to compete. This impressive early turnout underscores the global appeal and anticipation for this novel series, setting the stage for a highly competitive season.

Metapro and ESE's Role

Metapro has been instrumental in the development and launch of the Virtual Driftmasters series. The initial phase has successfully been completed with the launch of the Virtual Drift Masters Portal, where competitors can now register for the first season at https://vdm.gp/. This portal is the gateway for participants to enter the event.

Metapro will leverage their advanced technological solutions for the Virtual Driftmasters Portal and Application. This partnership includes the intricate task of replicating real-world tracks as mods in Assetto Corsa, ensuring an authentic and immersive racing experience for participants.

ESE Entertainment will be responsible for online event execution, bringing the Virtual Driftmasters series to life. The team aims to deliver unparalleled event execution, enhancing the competitive and viewing experience for fans around the globe.

In the coming days, the Virtual Drift Masters App will be made available to the public, enhancing the experience and accessibility of the series. Alongside these developments, Metapro has also unveiled the latest version of the Metapro Wallet, showcasing their commitment to integrating new technology within the esports.

A significant innovation introduced by Metapro for this series is the metaproID, a novel concept that combines web2 and web3 user profiles. This feature is set to revolutionize how participants interact within the Virtual Driftmasters ecosystem, offering a seamless and integrated user experience that bridges traditional online platforms with the emerging web3 space.

Konrad Wasiela, CEO of ESE, expressed excitement about the launch: "Virtual Driftmasters is more than just a competition; it's a testament to the power of collaboration between technology and motorsport. Thanks to Metapro's technological expertise, we're able to offer an unparalleled virtual drifting experience. This series is a leap forward in our mission to blend gaming, sports, and entertainment into compelling, innovative experiences."

With the Virtual Driftmasters series, ESE and Metapro invite motorsport enthusiasts and gamers to be part of the event that pushes the boundaries of what's possible in the world of esports and online racing.

ESE Also Announces Grant of Restricted Share Units

ESE also announces the grant of options (each, an "Option") to purchase an aggregate of 750,000 common shares in the capital of the Company (each, a "Share"), as well as the award of an aggregate of 6,650,000 restricted share units (each, an "RSU", and together with the Options, the "Awards") to certain directors, officers, and consultants pursuant to the Company's equity incentive plan. The Options are exercisable for a period of 3 years from the date of grant at a price of $0.12 per Share. All Options vest 100% on the date of grant. Each RSU represents the right to receive, once vested, one Share. The RSUs will vest 12 months from the date of the RSU award. Of the Awards granted, 3,050,000 RSUs and 300,000 Options were granted to directors or officers of the Company. The Company relied on section 5.5(a) of Multilateral Instrument 61-101 - Protection of Minority ‎Security Holders in ‎Special Transactions ‎‎("MI 61-‎‎101")‎ as the exemption from the formal ‎‎valuation ‎requirements of MI 61-101 and section ‎‎5.7(1)(a) of MI 61-101 as the exemption from ‎the minority approval ‎requirements of MI 61-101 in respect of the ‎Award grants to the directors and ‎officers of the Company, as neither the fair ‎‎market value of the subject matter of, nor the fair market value ‎of the consideration for, the Awards granted to the directors and officers of the Company exceeded 25% of the Company's ‎‎market capitalization.‎‎

ESE Entertainment Inc.

Konrad Wasiela
Chief Executive Officer and Director
+1 (437) 826-4012

About Metapro

Metapro is a leading technology enterprise at the forefront of the web3 gaming sector. The company provides comprehensive web3 gaming solutions, specializing in the creation, management, and distribution of digital assets through advanced blockchain technology and a network of distributed databases. Beyond its core services, Metapro innovates with its proprietary Metapro Protocol, NFTma for NFT integration, secure digital gaming wallet and its Omnichannel Gaming Platform to enhance the gaming experience globally. Metapro is committed to evolving the gaming landscape by empowering asset integration across games and applications. www.metapro.one

About ESE Entertainment Inc.

ESE is a global technology company focused on gaming. The Company provides a range of services to leading video game developers, publishers, and brands by providing technology, infrastructure, and fan engagement services internationally. ESE also operates its own ecommerce channels, esports teams, and gaming leagues. www.esegaming.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that ESE anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements with respect to: ESE's partnership with Metapro and the expected benefits to ESE thereunder; Metapro's technology; Metapro's worldwide expansion; and the success of Metapro's marketing and sales initiatives, and the impact thereof on ESE. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of ESE to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to ESE, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in the securities of ESE should be considered highly speculative.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE ESE Entertainment Inc.

For further information about ESE, please contact:
investors@esegaming.com

SOURCE: ESE Entertainment Inc.