Largest Shareholder of Enthusiast Gaming Holdings Inc. Submits Slate of Highly Qualified Director Nominees

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UPGRADE EGLX

  • Six new director nominees will add financial, technology, gaming, entrepreneurial and leadership experience to Enthusiast's Board
  • Shareholders are urged to visit www.UpgradeEGLX.com and sign up to stay up to date on the campaign to “Upgrade Enthusiast”

NEW YORK, May 25, 2022 (GLOBE NEWSWIRE) — Greywood Investments, LLC, which, together with its associates and affiliates ("Greywood"), currently owns over 9.3% of the shares of Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX, TSX:EGLX) ("Enthusiast" or the "Company") and is its largest shareholder, today announced that it has nominated six highly experienced and qualified Director candidates (the “Proposed Director Nominees”) to stand for election to the Board of Directors at Enthusiast's annual meeting of shareholders scheduled for June 29, 2022 (the “Meeting”).

Enthusiast has seen its share price decline from a high of US$8.64 on April 20, 2021, to US$2.10 per share as of the close of business on May 23, 2022 (the final trading day prior to the launch of the “Upgrade Enthusiast” campaign), almost a 76% loss. This compares quite unfavorably to a drop of approximately 16% for the Nasdaq Stock Market and 4% for the S&P 500 Index during the same period. Shareholders, including Greywood, are very frustrated given Enthusiast has a very talented team of committed employees and an otherwise compelling suite of assets. Greywood believes that the Company's potential value is far greater than its share price currently suggests.

As an investor in the Company since 2018, Greywood has expressed its concerns regarding the performance of the Company's Board and CEO and has quietly offered solutions to the Board on numerous occasions over the last few months. Despite the constructive nature of its analysis and proposed solutions, Greywood's efforts have been met with transparent delay tactics by what has become an entrenched Board and CEO, who appear unwilling or unable to make the necessary changes to “Upgrade Enthusiast”.

The slate of the exceptionally qualified Proposed Director Nominees will bring a diverse blend of financial, technology, gaming, entrepreneurial and leadership skills and experience to Enthusiast's Board and includes:

Jon Dakss
Fractional Chief Product & Technology Officer and Executive Advisor, Palladium Consulting LLC

Jon Dakss is an accomplished technology leader in the media, direct-to-consumer and streaming industries. He spent much of his career in media technology, first at NBCUniversal and then as Chief Digital Officer at EPIX (an MGM Company), where he led teams focused on product strategy, development and innovation. Jon subsequently founded Palladium Consulting, where he is a much sought-after Executive Advisor and Fractional CTO/CPO for companies ranging from early-stage start-ups to global news and entertainment giants. He supports his clients in areas spanning Direct-to-Consumer Product Design & Development, Product Architecture & Strategy, Marketing Technology implementation, Patent/IP Strategy, Metadata/Recommendations/AI Development, and Building Technology/Partnerships. He is a graduate of Columbia University and the Massachusetts Institute of Technology.

Raphael Danon
Chief Executive Officer, Universal WellnessWrx
Chief Operations Officer, WellnessWrx Inc.

Raphael Danon is a proven business builder with extensive financial management and leadership experience. He has built businesses in emerging growth industries, including having spent more than 6 years at ClearBlue Markets, a company at the forefront of regulatory and market development that helps businesses navigate the complexities of the carbon markets. Raphael previously spent 10 years serving as Chief Financial Officer at a private and public company. He is a Member of the Chartered Professional Accountants of Canada and a graduate of York University.

David Goldhill
Co-Founder & Chief Executive Officer, Sesame Inc.

David Goldhill is an experienced media and entertainment executive. He was President and COO of Universal Television Group before being named the CEO of Game Show Network, where his responsibilities included establishing GSN Games. David served in that role for a decade before co-founding Sesame, an online marketplace for high-quality, low-cost healthcare services. He earlier served as EVP and CFO of Act III Communications, a private operator of broadcast stations, movie theaters, and trade magazines. He has …

Full story available on Benzinga.com

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