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home / news releases / ENGMF - Enthusiast Gaming to reduce debt to strengthen balance sheet

ENGMF - Enthusiast Gaming to reduce debt to strengthen balance sheet

Enthusiast Gaming
Enthusiast Gaming (ENGMF) touched 300M+ monthly video game and e-sports fans worldwide; it has issued notice to convertible debentures holders for exercising option to convert the outstanding debentures into common shares.Debentures were set to mature on Dec.31, 2021.Post conversions, $9M in principal amount of the debentures will have been converted into ~2.97M shares.Debenture conversions will reduce the company's indebtedness and by recent capital raise, the company will strengthen its balance sheet by more than $50M and reduce annual interest costs by $0.8M.

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Enthusiast Gaming to reduce debt, to strengthen balance sheet
Stock Information
Company Name: Enthusiast Gaming
Stock Symbol: ENGMF
Market: OTC
Website: enthusiastgaming.com
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