11:53 AM EDT, 07/10/2025 (MT Newswires) -- (Updates shares.)

Enthusiast Gaming Holdings ( EGLXF ) on Thursday said its board launched a strategic review in response to multiple unsolicited offers and expressions of interests.

The company, which aims to seal an agreement for strategic transaction by the end of the year, said a special committee will explore opportunities to strengthen its balance sheet and unlock shareholder value.

Enthusiast announced the move after divesting its direct sales business line and focusing its portfolio on high-performing digital gaming media assets. The company also secured a $2-million non-revolving term loan as part of a debt financing and forbearance transaction. The company will use the loan for working capital purposes.

The company's share price at last look rose $0.05 to $0.13 on the Toronto Stock Exchange.

Price: 0.13, Change: +0.05, Percent Change: +62.50