MOGO Receives NASDAQ Extension to Comply with Bid Price Rule

WESTPORT, CT and MUMBAI, INDIA / ACCESSWIRE / October 12, 2023 / Mobile Global Esports Inc. ("MOGO" or the "Company") (NASDAQ:MGAM), a mobile and social platform for collegiate esports tournaments, announces that it has received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has been granted an additional 180 calendar day period, under Listing Rule 5810(c)(3)(A), or until April 8, 2024, to regain compliance under its minimum $1 bid price per share requirement. If at any time, during this additional time period, the closing bid price of the Company's security is at least $1 per share for a minimum of ten consecutive business days, this matter will be closed under Listing Rule 5810(c)(3)(F).

"We are grateful for Nasdaq's decision to grant MOGO an extension to regain compliance while we navigate through the current trading and market environment," said Dave Pross, CEO of MOGO. "We remain both committed to our mission and determined to deliver on our promise of excellence. This extension fuels our determination to elevate the world of gaming even further."

About MOGO

MOGO is an up-and-coming global esports company operating in India, the world's largest, fastest-growing and open digital market. By drawing on its unmatched network of gaming and university partners across the Indian subcontinent, MOGO convenes a wide variety of competitive, collegiate-level esports tournaments across India and delivers outsized value to gamers, colleges, distributors, brands and the wider esports ecosystem. In this way, MOGO not only creates business value, but also makes college sports newly accessible to many thousands of Indians, thereby advancing the wider India growth story.

Contacts

Dave Pross
CEO, MOGO
475-666-8401
dpross@mogoesports.com

Jamie Frawley
Investor Relations
investors@mogoesports.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They are generally identifiable by use of the words "may," "will," "should," "anticipate," "estimate," "plans," "potential," "projects," "continuing," "ongoing," "expects," "management believes," "we believe," "we intend" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements in this release, which are subject to risks and uncertainties, include statements regarding the expected use of proceeds. These statements are based on our management's expectations, beliefs and assumptions concerning future events, which in turn are based on currently available information. These expectations, beliefs and assumptions could prove inaccurate. Although we believe that the estimates and projections reflected in the forward-looking statements are reasonable, our expectations, beliefs and assumptions may prove to be incorrect.

SOURCE: Mobile Global Esports