Millennial Esports Provides Update on Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwired - Jan. 4, 2018) -

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

Millennial Esports Corp. ("Millennial" or the "Company") (TSX VENTURE:GAME) is providing an update on its previously announced non-brokered private placement of equity units at $0.70 per unit for gross proceeds of up to $20 million (the "Private Placement") (see the Company's November 24, 2017 news release).

The Company expects the first tranche of the Private Placement to close within the next week, with a second tranche of the Private Placement to close at the end of January.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

Millennial Esports Corp.:

Millennial Esports provides turnkey global solutions that cover gaming technology and studios, event management, research and analytics, content production, and broadcasting.

• MillennialEsports.gg is the premier operator of tournaments and building communities by and for gamers.
• IDEAS+CARS, based out of Motorsport Valley, UK, provides industry leading knowledge and intellectual property in the burgeoning and increasingly lucrative Esports racing genre.
• Eden Games will soon become part of Millennial Esports' offering in motor sports and racing.
• O'Gaming TV, based in Paris and a part of Alt Tab Productions, is an Esports video content production and events company, and a major player in live French-language esports streaming.
• thE Arena at Neonopolis is Las Vegas's first permanent Esports venue. The 15,000 square foot state-of-the-art facility accommodates more than 1000 people in comfort and provides technical services including facilities, expertise, and manpower for clients such as EA, Amazon, and Microsoft.
• Stream Hatchet, operating out of Barcelona, Spain, offers complete Esports data analytics solutions. The company focuses on providing actionable intelligence in a format that is easy to understand at a glance.

Forward-Looking Statements

This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The words "expect," "intend" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to business strategy, future operations, prospects, plans and objectives of management, as well as information concerning expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements.

The forward-looking statements are based on management's current expectations and should not be construed in any manner as a guarantee that such results will in fact occur or will occur on the timetable contemplated hereby. All forward-looking statements speak only as of the date of this news release and Millennial Esports undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including completion of the announced transactions; the accuracy of all projections; and other factors and uncertainties disclosed from time-to-time in Millennial Esports filings on SEDAR.com, which could cause actual future performance to differ from current expectations.