Millennial Esports Corporation recently announced its rebranding with a fresh new face. The Toronto-based company would change its name to Torque Esports Corporation, marking a milestone change that reflects its future line of development. In addition to that, the company will also consolidate existing common shares following the five-to-one pattern. All shareholders are about to be thoroughly informed on the consolidation directly affecting them.
When it comes to competitive video gaming and the opportunities it has up for grabs, the field is rapidly growing and developing. Canada has shown its warm attitude towards the world of esports throughout the years. Many provinces have already expressed their support towards the world of possibilities ahead of them. A study conducted by Mintel and published in its Attitudes toward Gaming report reveals 22 percent of Canadians consider esports equal to traditional sporting events.
Canadians Explore the Esports World
The competitive gaming company facing Canada made it clear that the consolidation is going to see some 11,732,90 common shares being consolidated to 2,346,590. It should also be taken into account that the esports leading company will implement all changes this Friday, available under the ticker symbol “GAME”. This change comes at a pivotal time in the company’s development, as it recently went through major changes.
The restructuring would aim to be a breath of fresh air to the competitive gaming field of Canada and possibly attract new enthusiasts. Millennial Esports Corporation also saw a change in its leadership team, the implementation of which could swerve its development in a new, more promising direction. It has been confirmed that the company would focus primarily on esports racing and data provision.
The esports company aims to be the engine of development with the help of its Eden Games studio that has already taken the field by storm with its racing games designed for mobile devices Earlier this month, the leading force in the local egaming field held its special shareholders meeting on the subject.
Increasing Interest Equals More Opportunities
It presented the opportunity of a rebranding and a consolidation at the annual shareholders meeting reflecting on the past months and upcoming months. Shareholders had the chance to vote on the changes to come and express their thoughts on Millennial Esports’ future development. However, the approval given did not mean an automatic change, but instead an approval of a possible one down the road.
Eventually, a name change and a consolidation came into effect. The company also dedicated this month to its expansion in the video content world. The Toronto-based company took a controlling stake in LetsGoRacing, the YouTube channel delivering motorsport content on a regular basis. Viewers around the globe have grown to love its regular videos and enjoy them as soon as they have been uploaded.
Over the years since 2013, the channel has accumulated some 40 million views as a result of its diverse portfolio and everything it has up for grabs. Millennial Esports now owns 51 percent of LetsGoRacing’s shares, making it a leading force in its future development. A single video reflecting on the World’s Fastest Gamer esports competition solidified the notion that the two entities should team up for something even better down the road.