TORONTO, July 23, 2020 /CNW/ -- Torque Esports Corp. (TSX-V: GAME) (OTCQB: MLLLF) ("Torque" or the "Company") has received approval from the TSX Venture Exchange ("TSXV") to recommence trading effective July 27, 2020.

On June 22, 2020, the Ontario Securities Commission (the "OSC") issued a cease trade order (the "CTO") against the Company for failure to file certain continuous disclosure documents. Subsequently, on June 23, 2020 the TSXV suspended trading of the Company's shares. The Company is pleased to report that the CTO was revoked by the OSC on July 10, 2020, upon the Company having filed all outstanding documents.

Results of Annual and Special Shareholders Meeting

At an annual and special meeting of shareholders held on July 15, 2020 (the "Meeting"), Torque's shareholders elected Tom Rogers, Lou Schwartz, Darren Cox, Steven Zenz, Hank Ratner, Bryan Reyhani and Peter Liabotis, as directors of Torque. "We are especially excited with the latest addition to the Torque team, Hank Ratner," said Torque Executive Chairman, Tom Rogers. "Hank brings a wealth of sports, content, distribution and entertainment experience from his prior roles as President and CEO of The Madison Square Garden Company, Vice-Chairman of Cablevision, and COO of AMC Networks, and his guidance will be invaluable as Torque expands its footprint in the sports and esports sectors."

At the Meeting, Torque's shareholders also approved resolutions (i) ratifying and confirming the Company's Omnibus Incentive Plan, (ii) approving a change of corporate name from "Torque Esports Corp." to " Engine Media Holdings, Inc." or such other name as may be selected by the Board of Directors of the Company in its discretion; (iii) authorizing an amendment to the articles of the Company so as to, if deemed advisable by the Board of Directors of the Company, consolidate the issued and outstanding common shares of the Company on the basis of one common share for a maximum of every fifteen (15) common shares issued and outstanding; (iv) approving the continuance of the Company from Ontario to British Columbia; and (v) appointing UHY McGovern Hurley LLP, Chartered Accountants, as auditors of the Company, the whole as outlined in Torque's management information circular dated June 15, 2020.

More About Torque Esports

Torque is focused on accelerating new, live, immersive esports and interactive gaming experiences for consumers through its partnerships with traditional and emerging media companies and providing online interactive technology platforms and monetization services. To date, Torque's combined companies have clients comprising more than 1,200 television, print and radio brands including CNN, ESPN, Discovery / Eurosport, Fox, Vice, Newsweek and Cumulus; dozens of gaming and technology companies including EA, Activision, Blizzard, Take2Interactive, Microsoft, Google, Twitch and Ubisoft; and have connectivity into hundreds of millions of homes around the world through their content, distribution and technology.

Torque Esports brands and businesses include UMG, Stream Hatchet, Eden Games, IDEAS + CARS, The-Race.com, WTF1 and Allinsports - for more information visit: www.torqueesport.com; Frankly and its wholly-owned subsidiary Frankly Media LLC, which provides a complete suite of online content and monetization solutions - for more information visit: www.franklymedia.com; and WinView, Inc., a Silicon Valley-based company, a pioneer in mobile gaming and interactive second screen viewing and the owner of a portfolio of foundational patents in the field of interactive media - for more information visit: www.winview.tv.

For more information, visit www.torqueesport.com

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Torque to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release.

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the operations or financial results of the parties are included in reports on file with applicable securities regulatory authorities.

The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Torque does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Engine Media Holdings, Inc.

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