GOOD GAMING INC. RETIRES $46,531 OF CONVERTIBLE DEBT THROUGH A CORPORATE SHARE BUYBACK
December 11 2018 - 10:00AM
InvestorsHub NewsWire
GOOD GAMING INC.
RETIRES $46,531 OF CONVERTIBLE DEBT THROUGH A CORPORATE SHARE
BUYBACK
Kennett Square, PA
-- December 11, 2018 -- InvestorsHub NewsWire
-- 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:
infinityglobalconsulting@gmail.com
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