{"id":18417,"date":"2019-09-03T12:34:53","date_gmt":"2019-09-03T16:34:53","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=18417"},"modified":"2019-09-11T14:24:08","modified_gmt":"2019-09-11T18:24:08","slug":"enthusiast-eglx-j55-aquilini-merger","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/enthusiast-eglx-j55-aquilini-merger\/","title":{"rendered":"Enthusiast Finalizes Merger With J55, Aquilini GameCo, And Luminosity Gaming"},"content":{"rendered":"<p><span data-contrast=\"auto\">After receiving final approval from the Ontario Superior Court of Justice last week,\u00a0<\/span><span data-contrast=\"auto\"><strong>Enthusiast Gaming Holdings Inc.<\/strong> [stock_market_widget type=\"inline\" template=\"generic\" color=\"default\" assets=\"EGLX.V\" markup=\"(TSXV: {symbol} {currency_symbol}{price} ({change_pct}))\" api=\"yf\"] and <strong>J55 Capital Corp.<\/strong> [stock_market_widget type=\"inline\" template=\"generic\" color=\"default\" assets=\"FIVE.P\" markup=\"(TSXV: {symbol} {currency_symbol}{price} ({change_pct}))\" api=\"yf\"] have now <a href=\"https:\/\/www.globenewswire.com\/news-release\/2019\/09\/03\/1909963\/0\/en\/Enthusiast-Gaming-Completes-Merger-With-Aquilini-GameCo-and-Luminosity-to-Form-Global-Esports-and-Gaming-Leader.html\">completed their previously announced merger<\/a>.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The deal closed this morning, and also sees both Aquilini GameCo Inc. and Luminosity Gaming Inc. joining together through the merger. Under the terms of the deal, J55 is acquiring all of Enthusiast\u2019s issued and outstanding common shares.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Those four entities will now operate under the overall banner of Enthusiast Gaming Holdings Inc., with trading on the TSX Venture Exchange under the ticker symbol EGLX due to begin Monday, Sept. 9.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>Adrian Montgomery will now take up the role as Chief Executive Officer of the merged company, with Menashe Kestenbaum serving as President. <span data-contrast=\"auto\">Kestenbaum commented on the completed merger process:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\"><div class=\"su-quote su-quote-style-default\"><div class=\"su-quote-inner su-u-clearfix su-u-trim\"> Our vision when we founded Enthusiast was to build the largest, vertically integrated eSports and gaming company in the world. The merger with Aquilini GameCo and Luminosity was a strategic decision that positions us as a dominant player in the industry and unlocks access to Luminosity\u2019s 60 million dedicated eSports fans and one of the largest eSports franchises. I look forward to working with our new partners to continue to build and diversify Enthusiast Gaming.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\"> <\/div><\/div><\/span><\/p>\n<p><span data-contrast=\"auto\">The acquisition plan was approved by a majority of shareholders from both Enthusiast and J55 at two special meetings held last month.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Enthusiast currently manages the\u00a0Vancouver Titans team, which was one of eight expansion franchises added to the Overwatch League during this year\u2019s season.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Titans began the season with a 4 &#8211; 0 victory against the Shanghai Dragons, and subsequently earned a perfect 7 &#8211; <\/span><span data-contrast=\"auto\">0 win<\/span><span data-contrast=\"auto\"> streak in the stage 1 playoffs. That streak would continue to a whopping 19 undefeated wins in a row, only recently broken by the San Francisco Shock during the stage 2 finals playoff.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The League\u2019s stage 3 playoffs will begin next week, with the Grand Finals to occur on Sept. 29 in Philadelphia at the Wells Fargo Center.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Aside from operations in the Overwatch League, Enthusiast has signed a support agreement with Vancouver Arena Limited Partnership. Through that agreement, Enthusiast will gain access to marketing services, brand association, and retail support for eSports planning and digital media initiatives. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enthusiast Gaming Holdings Inc (TSX-V: EGLX) and J55 Capital Corp. (TSX-V: FIVE.P) have now officilaly merged into one eSports entity.<\/p>\n","protected":false},"author":12,"featured_media":18323,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1112],"tags":[208,1123,1122,1133,1124],"class_list":{"0":"post-18417","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech","8":"tag-company-news","9":"tag-eglx","10":"tag-enthusiast-gaming-holdings","11":"tag-five-p","12":"tag-j55-capital"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Enthusiast Finalizes Merger With J55, Aquilini GameCo, And Luminosity Gaming | Capital 10X<\/title>\n<meta name=\"description\" content=\"Enthusiast Gaming Holdings Inc (TSX-V: EGLX) and J55 Capital Corp. 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