Tova Ventures II Inc. Announces Filing of Filing Statement in Connection with Business Combination with Enthusiast Gaming Inc.

Toronto, Ontario--(Newsfile Corp. - August 28, 2018) - Tova Ventures II Inc. (TSXV: TOVA.P) ("Tova") and Enthusiast Gaming Inc. ("Enthusiast") are pleased to announce that Tova has filed a filing statement dated August 28, 2018 (the "Filing Statement") with the TSX Venture Exchange (the "Exchange") for the proposed business combination (the "Transaction") between Enthusiast and Tova, as previously announced by Tova in subsequent press releases, which Transaction is intended to constitute Tova's "Qualifying Transaction" pursuant to Policy 2.4 of the Exchange. Tova and Enthusiast are also pleased to announce that the Exchange has provided conditional approval for the Transaction and that earlier this morning the shareholders of Enthusiast overwhelmingly approved the Transaction.

The parties will be providing a further update with respect to the anticipated closing date of the Transaction and the listing date. Additional information in respect of the Transaction, Tova and Enthusiast is provided in the Filing Statement, which is available under Tova's SEDAR profile at

The Transaction remains subject to receipt of final approval from the Exchange and other regulatory approvals, as if and when applicable.

About Enthusiast Gaming

Enthusiast was incorporated in 2014 under the laws of the Province of Ontario. Enthusiast owns and operates an online network of websites devoted to video gaming and Canada's largest video-gaming expo. Between its online digital media properties, its network of partner websites, and video-gaming gaming expo, Enthusiast engages millions of video gaming enthusiasts worldwide.

For more information please contact:

Gavin Cooper
Chief Executive Officer
Tova Ventures II Inc.

Eric Bernofsky
Chief Operating Officer
Enthusiast Gaming Inc.

Completion of the Transaction is subject to a number of conditions, including but not limited to, final Exchange acceptance. There can be no assurance that the Transaction will be completed as proposed at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Tova should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the completion of the Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Tova disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.