Toronto, Ontario–(Newsfile Corp. – March 31, 2026) – Enthusiast Gaming Holdings Inc. (TSX: EGLX) (“Enthusiast Gaming” or the “Company“), a leading digital publisher focused on building tools, platforms, and experiences for gamers, today announced that due to a delay in the completion of audit and financial reporting procedures, the filing of its annual financial statements, management’s discussion and analysis, annual information form and related officer certifications for the financial year ended December 31, 2025 (collectively, the “Annual Filings“) under Parts 4 and 5 of National Instrument 51-102 – Continuous Disclosure Obligations and pursuant to National Instrument 52-109 – Certification of Disclosure in Issuer’s Annual and Interim Filings will be delayed beyond the required filing deadline of March 31, 2026 (the “Filing Deadline“).
The delay in filing the Annual Filings is outside of the Company’s control and primarily due to delays in the external auditor’s ongoing audit procedures. The Company’s external auditor was appointed on September 15, 2025. The Company is assisting the external auditor by providing them with the supplementary information and additional documentation they need in order to finalize their audit procedures as soon as possible, which is expected to be no later than April 13, 2026.
The Company is providing this default announcement in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“). The Company has made an application to the Ontario Securities Commission (the “OSC“), as principal regulator of the Company, for a management cease trade order (“MCTO“) under NP 12-203 in respect of the anticipated default regarding the Annual Filings. The granting of the MCTO is at the discretion of the OSC. The issuance of the MCTO, if approved, would generally not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities. In the event that the MCTO is granted, it will be in effect until the default is remedied.
The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
Other than as disclosed herein, the Company is up to date in its filing obligations.
About Enthusiast Gaming
Enthusiast Gaming builds tools, platforms, and experiences that make every moment of play more meaningful. Its portfolio of owned and operated digital properties includes some of the most recognizable names in gaming, such as U.GG, Icy-Veins, TheSimsResource, PocketGamer, Addicting Games, and Fantasy Football Scout, as well as the global B2B event series PocketGamer Connects. Through these assets, Enthusiast Gaming generates revenue from programmatic advertising, subscriptions, and events, and is focused on expanding its owned IP and deepening direct engagement with its audience.
Forward-Looking Information
This news release contains certain statements that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the anticipated timing of the filing of the Company’s annual financial statements, management’s discussion and analysis, annual information form and related certifications for the year ended December 31, 2025, and statements regarding the potential issuance, scope and duration of a management cease trade order.
Forward-looking information is based on management’s current expectations, estimates and assumptions as of the date of this news release, including assumptions regarding the timely completion of the audit process, the availability of information required to complete the Annual Filings, and ongoing cooperation with the Company’s auditors and regulators. While the Company believes such expectations and assumptions are reasonable, they are subject to inherent uncertainties.
Forward-looking information involves known and unknown risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed or implied by such statements, including, without limitation, risks relating to delays in completing the audit and Annual Filings, the discretion of the OSC in granting or extending an MCTO, and the possibility of additional unforeseen events or circumstances.
Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information is made as of the date hereof and the Company undertakes no 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 law.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290770
Source: Enthusiast Gaming Holdings Inc.