Gamelancer Gaming Announces Exit of NFT Business and Name Change
Toronto, Ontario--(Newsfile Corp. - September 20, 2022) - Gamelancer Gaming Corp. (CSE: GMNG) ("Gamelancer" or the "Company") announces that it will take steps to write down its non-fungible token (NFT) assets and cease operating in the NFT market with a view of focusing its efforts on its other lines of business, namely its direct media sales through it's owned and operated network of digital channels, curating short-form video content for brands and media agencies.
"Gamelancer owns the largest network of gaming focused channels on TikTok globally, with studios in Vancouver and Toronto curating content in-house for clients and agencies. We broadcast content our clients hire us to produce, alongside viral videos which live natively on our channels. Short-form media like the videos we see on TikTok and Instagram Reels, is the future of media, and Gamelancer has become a trusted partner of some of the largest brands on the planet to help them story-tell and engage customers by utilizing the short-form video we produce. It was always our intent for NFTs to be a product line our customers could select as an option to promote their campaigns, however we have witness significant decrease in the demand for NFTs, and as such we are dropping the product from our offering. Gamelancer is a media-first entertainment company helping brands and agencies engage the youth & young adult audience on TikTok, Instagram and Snapchat." - Jon Dwyer, Chairman & CEO - Gamelancer Gaming Corp.
Furthermore, the Company is pleased to announce that has commenced the process to change its name to "Gamelancer Media Corp." (the "Name Change") and will file an alteration notice to change the name of the Company. The common shares are expected to commence trading under the new name "Gamelancer Media Corp." on or around September 27, 2022, under the Company's current symbol GMNG.
Gamelancer Gaming Corp. a publicly traded entertainment company on the Canadian Securities Exchange, is a growing mobile focused social media network in gaming - generating over 1 billion+ monthly video views across its 27 owned and operated channels. With over 28,000,000 followers on TikTok, Instagram, and Snapchat, predominantly located in the US, Canada, the UK, and Australia, Gamelancer sells direct and programmatic media across its network to the world's largest brands. With advanced user data analytics, we provide our audience curated content relevant to the GenZ & Millennial gaming community, which allows brands unparalleled access to the largest media inventory in gaming across TikTok, Instagram, and Snapchat. Gamelancer also monetizes across its variety of Snapchat Gaming channels with monthly recurring revenue in partnership with Snapchat.
For further information, please contact:
Jon Dwyer, Chairman and Chief Executive Officer
Tel: (416) 627-8868
Bill Mitoulas, Investor Relations
Tel: (416) 479-9547
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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