New Wave Esports Appoints Richard Carl as Director

/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/

TORONTO, Nov. 11, 2019 /CNW/ - NEW WAVE ESPORTS CORP. (the "Company" or "New Wave Esports") (CSE: NWES) is pleased to announce that Richard Carl has been appointed to the Company's board of directors. In connection with his appointment, the Company granted Mr. Carl 200,000 options to purchase common shares of the Company ("Options"). The Options are exercisable at a price of $0.11 and will expire on November 8, 2024.

Mr. Carl has extensive experience in serving as a board member and in executive roles for private and public companies in a number of industries including oil and gas, real estate, financial services, power generation and mining. Many of these roles have included fund raising, both debt and equity, joint ventures and restructurings as well as principal investing.

Mr. Carl currently sits on the board of directors of Clearview Resources where he chairs the audit committee, is a member of the compensation committee and recently chaired the corporation's special committee that led to a merger with Bashaw Oil Corp. Mr. Carl also serves on the board of trustees of InvestPlus REIT, a private real estate investment trust based in Calgary. Mr. Carl also sits on the board of Dealnet Capital Corp., a TSX-V listed consumer finance company where he chairs the risk committee. Mr. Carl was the executive chair of Canada Fluorspar, a TSX-V listed company and the CEO and chair of the board of directors of Newspar, the joint venture between Canada Fluorspar and Arkema, one of Europe's largest Fluorchemical companies. Canada Fluorspar was subsequently sold to a private equity firm. In addition, Mr. Carl is a past director of Highpine Oil and Gas Ltd., a former TSX listed company where he chaired the audit committee and the special committee that led to the sale of Highpine to Daylight Resources Trust.

Mr. Carl previously earned a CFA designation and graduated from the University of Toronto with a Bachelor of Commerce and Finance degree.

"New Wave Esports is an exciting opportunity, rapidly gaining traction in the esports space and I look forward to working with the management of the Company and adding my experience in early stage and small capitalization companies to help bring its strategies to fruition," said Mr. Carl.

"The addition of Richard Carl to the New Wave Esports Board of Directors opens up incredible opportunities as we tap into Richard's expansive knowledge of leading and building successful businesses," says Dan Mitre, CEO of New Wave Esports. "Richard has an impressive set of skills and experiences that elevate our leadership within the company. We are excited about having someone of his caliber join our ranks as we continue to invest in the esports ecosystem."

RESIGNATION OF TIFFANY LEE

The Company also announces that Tiffany Lee has resigned as a director of the Company. Mr. Carl was appointed to fill the vacancy left by Tiffany Lee. Ms. Lee will remain as the Chief Financial Officer & Corporate Secretary of the Company.

TRUMBULL FISHER APPOINTED AS CHAIR OF THE BOARD

The Company announces that Trumbull Fisher, the President of the Company, has been appointed as the Chair of the Board of Directors.

ABOUT NEW WAVE ESPORTS CORP.

New Wave Esports Corp. (CSE: NWES) is an esports and competitive gaming company that provides capital and support services to esports organizations, teams, leagues, events, platforms, tools, and technology innovators.

New Wave Esports has leadership teams located in Toronto, Ontario and Los Angeles, California. For more company information and contact details, visit http://newwaveesports.com.

HIGHLIGHTS OF THE NEW WAVE ESPORTS PORTFOLIO:

• Even Matchup Gaming: Events company bringing esports to the masses through over 80 annual events (own 18% with the option to acquire up to 49%).
  
  
• Tiidal Gaming: Esports organization that owns and operates Canada's premier esports team Lazarus, one of the highest-grossing teams in the world (invested in at an $8M valuation with advisory seats and additional options).
  
  
• PlayLine: Daily fantasy sports betting platform, co-founded by UFC middleweight champion Michael Bisping, and two time NBA All-Star Roy Hibbert as their Investor/Strategic Partnerships Manager.
  
  
• Thunderbolt CDG: Full acquisition of software applications and technology development company that has provided services for 40+ startup companies.

FORWARD-LOOKING INFORMATION DISCLAIMER

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

SOURCE NEW WAVE ESPORTS CORP.

Daniel Mitre, Chief Executive Officer, New Wave Esports Corp., Email: [email protected]