New Wave Esports Announces Share Consolidation and Name Change

TORONTO, May 5, 2020 /CNW/ - New Wave Esports Corp. (the "Company" or "New Wave") (CSE: NWES) announces that it intends to consolidate its common shares on a three (3) for one (1) basis (the "Consolidation"). The Company currently has 90,105,921 common shares issued and outstanding. Following the Consolidation, the Company will have approximately 30,035,307 common shares issued and outstanding prior to rounding for fractional shares. Completion of the Consolidation is subject to approval by the Canadian Securities Exchange. Concurrently, the Company will be changing its name to "New Wave Holdings Corp." (the "Name Change") and will be changing its trading symbol from NWES to SPOR.

Upon completion of the Consolidation and the Name Change, a letter of transmittal will be sent by mail to registered shareholders advising that the Consolidation and Name Change have taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or DRS statements evidencing their pre-consolidated common shares for new share certificates or new DRS statements representing the number of post-Consolidation common shares to which they are entitled. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the Consolidation.

The Company's common shares are expected to begin trading on a post-Consolidation basis on the CSE on May 8, 2020.

The Consolidation was approved by the board of directors of the Company.

About New Wave Esports Corp.

New Wave Esports is an esports and competitive gaming company that provides capital and support services to esports organizations, teams, leagues, events, platforms, tools, and technology innovators.

New Wave Esports has leadership teams located in Toronto, Ontario and Los Angeles, California.

For more company information and contact details, visit


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SOURCE New Wave Esports