Toronto, Ontario – (September 28, 2022) – Tiidal Gaming Group Corp. (CSE: TIDL) (OTCQB: TIIDF) (“Tiidal Gaming” or the “Company”), a leading esports and gaming platform company, is pleased to provide the following shareholder letter from Tiidal Gaming CEO Tom Hearne.
Dear Tiidal Shareholders,
As we exit the summer and our 3rd quarter, I wanted to give you an update on the progress that we have been making over the year and the amazing potential that we have going forward.
As you are all aware, the last 12-18 months have been challenging times in the macro environment with global economic uncertainty remaining a key issue. We have seen a technology sector correction and a lack of financing activity in the North American public markets.
Despite these turbulent times, Tiidal Gaming Group insiders, (collectively owning 50%+ of the company’s share capital), have continued to invest in the company through participation in the current $0.10 unit financing and actively buying shares in the open market. I have invested approximately $200,000 since joining the company earlier this year.
We are fortunate to have a core group that believes strongly in what we are doing and the substantial opportunity this market has over the next few years. Skill-based wagering, in-game betting, and esports generally represent a blue-sky opportunity and their digital nature makes this a truly unique market. We are still on the ground floor of what is an amazing company with our market-leading technology.
I joined Sportsflare (our soon-to-be rebranded company) because of their amazing team. The founders have a strong passion for betting and technology, combined with an expertise in the area of esports betting, and interactive entertainment that is unrivalled. The more I have worked with them, the more impressed I have become with their work and the resulting products we are delivering.
Founded in a deep understanding of artificial intelligence and esports, they have been able to create market-leading technology that can make in-game predictions providing a unique offering that competitors are not able to make. The result of this is ‘Flash Markets’, a betting product that is the first-of-its-kind for esports.
Flash Markets allow a gamer/bettor to watch a live League of Legends or Dota 2 board (and soon a CS:GO or FIFA match board), see the player positions, and be given the opportunity to make a selection of bets as to which player or team will get the next kill or which tower will fall next. This product is currently in the testing cycle with four great esports brands, and we are getting positive feedback. This innovative product will revolutionize esports betting and create an entirely new addressable market segment which remains untapped.
Last week, at the SBC Summit Barcelona event, we had the chance to showcase this product to the world’s best direct-to-consumer betting sites as well as top-tier business-to-business providers in the space. Everyone was excited to get a first-hand look at the product and wanted to know when and how they could get access to it. Our goal, from this show, is to distribute the product via these two channels, enabling us to highlight our product with the best and leading sports betting sites in the world. Our focus will be to foster relationships with the prospects we met with and turn them into customers in the near future.
You can expect us to be making more announcements about the Flash Markets product over Fall 2022.
This is what we have been waiting for – the opportunity to grow the business after ensuring we have the product set that we needed to succeed and complement it with high level, professional risk and trading, which has been sorely lacking in the esports industry. Part of this was getting access to live data. On July 22, 2022, we signed a deal with Bayes Esports and got access to live data for Riot and ESL League games. This is the only way to succeed at developing a robust live betting product. Our competitors scrape data from other websites in order to try to achieve this, which we believe will lead to no success as it is an inferior method.
Our deal with Bayes was two-fold. Not only did we gain access to the best data available, we also obtained a new customer. At SBC, Bayes announced that they were launching Bodex, the esports betting platform that will be the new esports base for Betradar customers. We are part of the pre-match and live odds offering in Bodex. This is the start of the growth of our revenue base and the demonstration of our product capabilities at the highest level.
Stay tuned for future updates. We look forward to sharing more exciting news over the fall. As always, I am available to answer your questions and share our story.
CEO of Sportsflare
Furthermore, the Company has granted certain employees of Sportsflare and a director, options to acquire a combined total of 1.6 million common shares with an exercise price of C$0.10 per share. The options vest over a 24-month period.
About Tiidal Gaming
Tiidal Gaming is a leading media and technology platform enabling next generation engagement in esports and gaming. We are positioned at the intersection of gaming, media, and betting and enable our partners to create positive, engaging, and immersive fan and consumer experiences through our industry-leading media & technology offerings. With deep industry roots and expertise, Tiidal is focused on the next generation of fan and consumer and building the future of game-based entertainment. For more information, please visit www.tiidal.gg.
Chief Executive Officer, Tiidal Gaming
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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.
Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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