Esports Entertainment converts $500K Series C Preferred into 332,061 common shares, diluting holders

ESPORTS ENTERTAINMENT GROUP, INC.

Between May 22 and June 26, 2023, Holder converted $500K of Series C Preferred into 332,061 common shares.
Conversion prices equal 90% of lowest VWAP of the 10 trading days ending on conversion date.
Approximately $14,601,000 of Series C Preferred remains outstanding, subject to further conversions.
Shares issued under Section 3(a)(9) exemption from registration; no commission paid.
Company intends to continue effecting additional equity conversions on same terms, implying ongoing dilution.

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