Regains Nasdaq bid price compliance; must meet $2.5M equity test by March 31

ESPORTS ENTERTAINMENT GROUP, INC.

On March 9, 2023, notified by Nasdaq Hearing Panel of compliance with minimum bid price rule (5550(a)(2)).
Must still demonstrate compliance with $2,500,000 stockholders' equity requirement (5550(b)(1)) by March 31, 2023.
Effected 1-for-20 to 1-for-100 reverse stock split on February 22, 2023.
Completed debt-to-equity exchanges of $19.3M aggregate principal for 2.24M common shares, causing dilution.
Warns it may not satisfy all Panel conditions and securities could be delisted.

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