TORONTO, Nov. 18, 2019 /CNW/ - NEW WAVE ESPORTS CORP. (the "Company" or "New Wave Esports") (CSE: NWES), an esports and competitive gaming company that provides capital and support services, announced today its strategic investment (the "Investment") in Talon Esports Limited ("Talon"), a professional esports organization with a growing presence across Asia including Hong Kong, South Korea, Taiwan and Thailand. In addition to the Investment, New Wave Esports will work closely with Talon's leadership to provide advisory support services to help fuel continued growth.
"We are looking to build on our momentum from 2020 by expanding into additional international gaming titles and further developing our brand through the establishment of our very own creative studio," said Sean Zhang, CEO of Talon Esports. "With the addition of New Wave Esports' leadership and expertise, we are equipped to continue our aggressive growth and achieve our vision."
"Talon's proven ability to show revenue growth and thorough execution with no external capital raises to date sets them apart as a strong, leading esports organization," said Daniel Mitre, CEO of New Wave Esports. "Through the new investment and strategic partnership with Talon Esports we are excited to continue building the next generation of esports as a commitment to executing against our Asian growth strategy we announced in October."
In connection with this strategic Investment, the Company has also entered into a Consulting Agreement with Talon dated November 13, 2019 (the "Consulting Agreement") pursuant to which the Company will perform certain strategic advisory services for Talon. Under the Consulting Agreement, the Company will, among other things, facilitate introductions to video game publishers and developers, assist with strategy setting and execution, provide guidance with respect to Talon's influencer and community engagement campaigns, provide strategic guidance and execution in sponsorship revenue flow, open new collaborations with New Wave's current portfolio companies, and provide support in the capital markets arena to assist in meeting Talon's business objectives.