Vancouver, BC, Aug 24, 2023 – East Side Games Group (TSX: EAGR) (OTC: EAGRF) (“ESGG” or the “Company“) a leading player in the mobile game industry, has today unveiled a strategic restructuring plan aimed at realigning the company’s priorities to ensure a more robust and successful future.
In an effort to evolve and adapt to a changing mobile game landscape, ESGG is implementing a series of strategic shifts to bolster its position in the market. This realignment is designed to transform ESGG into a leaner, stronger, and more focused company, well-equipped to tackle the challenges and opportunities that lie ahead. The restructuring has resulted in a reduction of 20% of the studio’s workforce unrelated to the ongoing core business of ESGG.
“We firmly believe that the steps we are taking now are crucial for the long-term success of ESGG. While this decision was not made lightly, it is a necessary one as we work to create a leaner and more adaptable organization” said Jason Bailey, CEO of ESGG.
ESGG is grateful for the continued support of its stakeholders and partners as it embarks on this transformative journey. The company remains dedicated to its mission of delivering engaging games in the mobile game sector.
ABOUT EAST SIDE GAMES GROUP
East Side Games Group is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: The Office: Somehow We Manage, Star Trek: Lower Decks – The Badgey Directive, Doctor Who: Lost in Time, RuPaul’s Drag Race Superstar and Trailer Park Boys: Grea$y Money.
We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. For further information, please visit: www.eastsidegamesgroup.com and join our online communities at LinkedIn, Twitter, Facebook, and Instagram.
Additional information about the Company continues to be available under its legal name, East Side Games Group Inc., at www.sedar.com.
Forward-looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.
For Further Information
Media Inquiries: media@eastsidegamesgroup.com
Investor Relations: IR@eastsidegamesgroup.com
3104 – 1055 Dunsmuir Street, Vancouver BC V7X 1G4
