(MENAFN- GlobeNewsWire - Nasdaq) itemprop="articleBody">KENNETT SQUARE, Pa., Dec. 11, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Good Gaming Inc. ( OTC QB: GMER ) (the "Company") is pleased to announce the retirement of $46,531 worth of Series D preferred shares on a convertible note, through a modification agreement.
In accordance with the modification agreement, the Company redeemed 46.531 shares of its convertible Preferred Series D stock valued at $1,000 per share from the noteholder. These preferred shares will now be retired back into the Company's treasury, thereby avoiding any conversions into common stock and will prevent any potential selling or dilution into the market.
Good Gaming Inc. CEO David B. Dorwart stated, "As we continue to build value in our core operations through the strategic implementation and diversity of our expansion into the esport gaming industry, we are now looking to preserve and increase the integrity of our shareholder value. This retirement of convertible debt through a preferred share buyback is an important step in limiting and preventing unwanted dilution through the conversion of preferred shares into common stock and, as we continue to build our core infrastructure, should help us retain and increase shareholder value.
Currently, the Company anticipates their business model facilitating rapid growth as they continue to expand and scale in the esport industry. They look forward to updating shareholders with upcoming events over the holiday season and throughout the upcoming year on a very consistent basis.
The Company also anticipates releasing its shareholder update on Tuesday, December 18, 2018, in order to give a detailed description of events and an outlook moving forward.
For more information please visit our website:
https://www.good-gaming.com Social networks:
Twitter: https://twitter.com/GOODGMER
Facebook: https://www.facebook.com/GoodGMER/
Blog: https://investor.good-gaming.com/blog/
About Good Gaming Inc.:
Good Gaming Inc. is a leading competitive gaming and social network platform targeting over 250 million esports players and participants worldwide who want to communicate with each other, develop strategies, and compete at novice, competitive and professional levels. Good Gaming Inc. has taken a strategic multifaceted approach in the esports industry with products and services ranging from multiple Minecraft servers, a proprietary tournament platform, high school esports leagues and soon-to-come virtual reality centers. The esports industry continues to experience exponential growth going from $500 million to $1.2 billion over the last two years while industry analysts forecast a $5 billion global industry by 2020. Good Gaming Inc. seeks to create and exploit opportunities as the industry allows.
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Good Gaming Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Good Gaming Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Good Gaming Inc.'s filings with the Securities and Exchange Commission.
Public Relations and Shareholder Information:
Joseph M. Vazquez III
Phone: (800) 686-5044
Email:
MENAFN1112201800703653ID1097816565
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