Millennial Esports Appoints Stephen Shoemaker CEO and President and Alex Igelman Executive Chairman

TORONTO, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Millennial Esports Corp. ("Millennial" or the "Company") (TSX VENTURE: GAME, OTCQB: MLLLF) is pleased to announce that it has appointed Stephen Shoemaker to the dual roles of CEO and President commencing on August 1, 2018, following the successful conclusion of Bob Reif's tenure as President and former CEO Alex Igelman's transition to Executive Chairman.

"We are very pleased to have an executive of the caliber of Steve Shoemaker assume additional leadership responsibilities at this crucial time in the growth of the Company", said Mr. Igelman. "Having worked closely with Steve over the last few months, I know we share the same vision for the Company and I am confident that he is the right person to lead Millennial into the exciting next chapter."

On making the transition to Executive Chairman, Igelman said: "I will continue to lead from the Board and work closely with management on the Company's strategy, vision, and direction. I will now be free to focus on the future growth of the Company, as opposed to daily operations. I also want to personally thank Bob Reif and his team at The Audible Group for their valuable contributions to the Company and for all their hard work and effort during the past year." 

"The Audible Group helped provide Millennial with the foundation it needs to scale and grow its business," said Mr. Shoemaker. "I look forward to taking Millennial to the next level following the integration and business processes that The Audible Group has put in place."

Mr. Shoemaker previously served as Head of Global Finance for Millennial, and steps into his new positions with a wealth of relevant experience. An accomplished senior executive with more than thirty years of financial and operations management experience, Mr. Shoemaker has already played a key role in focusing the Company on its core automotive Esports assets and reducing corporate overhead by more than half when compared to the first half of 2018. With expertise in the technology and hospitality industries, Mr. Shoemaker has built companies in the U.S., Canada, Europe, and Asia, where he led finance teams in global organizations with high growth profiles, scale, and operating complexity.

Having united Millennial's unique assets and diverse business units into a centralized operating structure, Mr. Reif and The Audible Group concluded its integration of Millennial's acquired business lines into a streamlined team working across four countries by leveraging the strengths of each acquisition and bringing to life the innovative vision of Millennial CEO and Founder Alex Igleman.

"Working with Alex and Steve during Millennial's hyper growth stage enabled The Audible Group to demonstrate its capabilities and apply its personnel, resources, and experience to Millennial's growth in Esports," said Bob Reif. "We have had the unique ability to see all sides of the esports landscape and to work with some remarkable talent. We're excited to see Millennial continue its story of innovation as it continues to expand its operations in Esports."

About Millennial Esports Corp.
Millennial Esports Corp. (MEC) is a vertically integrated mobile gaming publisher leading a revolution to fuse Esports racing and professional motorsport through a global competition model. MEC is utilizing its gaming franchises and intellectual property (IP) to engage millions of new players. Combined with its virtual and live tournament platforms, gaming analytics capability, and motorsport IP - including World's Fastest Gamer - MEC is uniquely positioned to become the market leader in Esports Racing.  

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon Millennial's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.

The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the esports industry generally; the ability of Millennial to implement its business strategies; competition; and other risks.

Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Millennial does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Millennial to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in disclosure documents of Millennial filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.

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