As filed with the Securities and Exchange Commission on May 8,
2020
Registration No. 333-
UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
SUPER LEAGUE GAMING, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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47-1990734
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(State or Other Jurisdiction
of Incorporation or Organization)
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(I.R.S. Employer
Identification No.)
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2906 Colorado Avenue
Santa Monica, California 90404
(802) 294-2754
(Address of Principal Executive Offices)
SUPER LEAGUE GAMING, INC. AMENDED AND RESTATED
2014 STOCK OPTION AND INCENTIVE PLAN
NON-QUALIFIED STOCK OPTION AWARD (INDUCEMENT GRANT)
RESTRICTED STOCK UNIT AWARD (INDUCEMENT GRANT)
(Full Title of the Plan)
Ann Hand
President and Chief Executive Officer
Super League Gaming, Inc.
2906 Colorado Ave.
Santa Monica, California 90404
(802) 294-2754
(Name, Address and Telephone Number, Including Area Code, of Agent
for Service)
Copies to:
Jessica R. Sudweeks
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Disclosure Law Group,
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A Professional Corporation
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655 West Broadway, Suite 870
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San Diego, California 92101
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(619) 272-7050
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Indicate by check
mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller
reporting company. See the definitions of “large accelerated
filer,” “accelerated filer,” “smaller
reporting company” and “emerging growth company”
in Rule 12b-2 of the Exchange Act.
Large accelerated filer
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☐
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Accelerated filer
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Non-accelerated
filer
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☐
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Smaller reporting company
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☒
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Emerging growth company
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☒
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If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 7(a)(2)(B) of the Securities
Act. ☐
CALCULATION OF REGISTRATION FEE
Title of Each
Class of Securities to be Registered
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Amount
to
be
Registered
(1)
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Proposed
Maximum
Offering
Price
Per
Share
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Proposed
Maximum
Aggregate
Offering
Price
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Amount
of
Registration Fee
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Common Stock, par
value $0.001 per share
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561,207(2)
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$2.32(3)
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$1,302,000.24
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$169.00
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Common Stock, par
value $0.001 per share
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984,623(4)
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$7.94(5)
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$7,817906.62
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$1,014.76
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Common Stock, par
value $0.001 per share
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60,000(6)
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$3.38(7)
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$202,800.00
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$26.32
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Common Stock, par
value $0.001 per share
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227,518(8)
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$2.32(3)
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$527,841.76
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$68.51
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Common Stock, par
value $0.001 per share
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22,500(9)
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$2.32(3)
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$52,200.00
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$6.78
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Total
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1,855,848
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—
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$9,902,748.62
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$1,285.38
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(1)
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Pursuant
to Rule 416 under the Securities Act of 1933, as amended (the
“Securities
Act”), this registration statement also registers an
indeterminate number of additional shares that may be issued
pursuant to the above-named plans as the result of any future stock
dividend, stock split, recapitalization or any other similar
transaction effected without the receipt of consideration which
results in an increase in the number of our outstanding shares of
common stock.
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(2)
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Represents
561,207 shares of common stock available for future issuance under
the Super League Gaming, Inc. Amended and Restated 2014 Stock
Option and Incentive Plan (the “2014 Plan”).
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(3)
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This
estimate is made pursuant to Rule 457 of the Securities Act solely
for purposes of calculating the registration fee, based on the average of
the high and low prices of the Registrant’s common stock as
reported on the Nasdaq Capital Market on May 4,
2020.
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(4)
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Represents
984,623 shares of common stock subject to outstanding options under
the 2014 Plan. To the extent outstanding options under the 2014
Plan are forfeited or lapse unexercised, the shares of common stock
subject to such awards will be available for future issuance under
the 2014 Plan.
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(5)
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This
estimate is made pursuant to Rule 457 of the Securities Act solely
for purposes of calculating the registration fee. The Proposed
Maximum Offering Price Per Share is $7.94 per share, which is the
weighted average exercise price of outstanding options granted
under the 2014 Plan being registered.
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(6)
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Represents shares of common stock issuable upon the exercise of a
new hire inducement stock option award granted by the Registrant
(the “Inducement Stock
Option”), granted in
accordance with Nasdaq Listing Rule 5635(c)(4).
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(7)
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This
estimate is made pursuant to Rule 457 of the Securities Act solely
for purposes of calculating the registration fee. The Proposed
Maximum Offering Price Per Share is $3.38 per share, which is the
exercise price of Inducement Stock Option being
registered.
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(8)
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Represents 227,518 shares
of common stock issuable upon the vesting of certain restricted
stock units previously issued under the 2014 Plan. To the extent
outstanding options under the 2014 Plan are forfeited or lapse
unexercised, the shares of common stock subject to such awards will
be available for future issuance under the 2014 Plan.
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(9)
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Represents shares of common stock issuable upon the vesting of a
new hire inducement restricted stock unit granted by the Registrant
(the “Inducement
RSU”), granted in
accordance with Nasdaq Listing Rule 5635(c)(4).
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Proposed sales to take place as soon after the effective date of
the registration statement as awards granted under the above-named
plans are granted, exercised and/or
distributed.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The
documents containing the information specified in Part I of
Form S-8 will be sent or given to participants as
specified by Rule 428(b)(1) of the Securities Act. These
documents and the documents incorporated by reference into this
registration statement pursuant to Item 3 of Part II of
this registration statement, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the
Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
In this registration statement, Super League Gaming, Inc. is
sometimes referred to as “Registrant,”
“we,” “us” or
“our.”
Item 3. Incorporation of Documents by Reference.
The
Securities and Exchange Commission (“SEC”) allows us to
“incorporate by reference” the information we file with
them, which means that we can disclose important information to you
by referring you to those documents. The information incorporated
by reference is considered to be part of this registration
statement, and later information filed with the SEC will update and
supersede this information. We hereby incorporate by reference into
this registration statement the following documents previously
filed with the SEC:
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our Annual Report on Form 10-K for the year ended December 31,
2019, filed on March 23, 2020;
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our Current Report on Form 8-K, filed on April 3, 2020;
and
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the
description of the Registrant’s common stock set forth in the
Registrant’s registration statement on
Form 8-A12B, filed by the Registrant with the SEC under
Section 12(b) of the Securities Exchange Act of 1934, as
amended (the “Exchange
Act”), on February 21, 2019, including any
amendments or reports filed for the purpose of updating such
description.
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In
addition, all documents filed by the Registrant pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Exchange Act
subsequent to the filing of this registration statement and prior
to the filing of a post-effective amendment which indicates that
all securities offered hereby have been sold or
which de-registers all securities then remaining unsold
shall be deemed to be incorporated by reference into this
registration statement and to be a part hereof from the date of
filing such documents, except as to specific sections of such
statements as set forth therein. Any statement contained in a
document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of
this registration statement to the extent that a statement
contained herein or in any other subsequently filed document which
also is incorporated or deemed to be incorporated by reference
herein modifies or supersedes such statement. Any statement
contained herein shall be deemed to be modified or superseded for
purposes of this registration statement to the extent that a
statement contained in any subsequently filed document which also
is incorporated or deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this registration
statement.
Under
no circumstances shall any information furnished under Item 2.02 or
7.01 of Form 8-K be deemed incorporated herein by
reference unless such Form 8-K expressly provides to the
contrary.
Item 4. Description of Securities.
Not
applicable.
Item 5. Interests of Named Experts and Counsel.
Not
applicable.
Item 6. Indemnification of Directors and
Officers.
Section 145(a) of the Delaware General Corporation Law
(“DGCL”)
provides, in general, that a Delaware corporation may indemnify any
person who was or is a party, or is threatened to be made a party,
to any threatened, pending or completed action, suit or proceeding,
whether civil, criminal, administrative or investigative (other
than an action by or in the right of the corporation) because that
person is or was a director, officer, employee or agent of the
corporation, or is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation or
other enterprise. The indemnity may include expenses (including
attorneys’ fees), judgments, fines and amounts paid in
settlement actually and reasonably incurred by the person in
connection with such action, so long as the person acted in good
faith and in a manner he or she reasonably believed was in or not
opposed to the corporation’s best interests, and, with
respect to any criminal action or proceeding, had no reasonable
cause to believe his or her conduct was unlawful.
Section
145(b) of the DGCL provides, in general, that a Delaware
corporation may indemnify any person who was or is a party, or is
threatened to be made a party, to any threatened, pending or
completed action or suit by or in the right of the corporation to
obtain a judgment in its favor because the person is or was a
director, officer, employee or agent of the corporation, or is or
was serving at the request of the corporation as a director,
officer, employee or agent of another corporation or other
enterprise. The indemnity may include expenses (including
attorneys’ fees) actually and reasonably incurred by the
person in connection with the defense or settlement of such action,
so long as the person acted in good faith and in a manner the
person reasonably believed was in or not opposed to the
corporation’s best interests, except that no indemnification
shall be permitted without judicial approval if a court has
determined that the person is to be liable to the corporation with
respect to such claim. Section 145(c) of the DGCL provides that, if
a present or former director or officer has been successful in
defense of any action referred to in Sections 145(a) and (b) of the
DGCL, the corporation must indemnify such officer or director
against the expenses (including attorneys’ fees) he or she
actually and reasonably incurred in connection with such
action.
Section
145(g) of the DGCL provides, in general, that a corporation may
purchase and maintain insurance on behalf of any person who is or
was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director,
officer, employee or agent of another corporation or other
enterprise against any liability asserted against and incurred by
such person, in any such capacity, or arising out of his or her
status as such, whether or not the corporation could indemnify the
person against such liability under Section 145 of the
DGCL.
Our
certificate of incorporation, as amended and restated
(“Charter”),
and our amended and restated bylaws (“Bylaws”) provide for the
indemnification of our directors and officers to the fullest extent
permitted under the DGCL.
We also
expect to enter into separate indemnification agreements with our
directors and officers in addition to the indemnification provided
for in our Amended and Restated Charter and Bylaws. These
indemnification agreements will provide, among other things, that
we will indemnify our directors and officers for certain expenses,
including damages, judgments, fines, penalties, settlements and
costs and attorneys’ fees and disbursements, incurred by a
director or officer in any claim, action or proceeding arising in
his or her capacity as a director or officer of the company or in
connection with service at our request for another corporation or
entity. The indemnification agreements also provide for procedures
that will apply in the event that a director or officer makes a
claim for indemnification.
We also
maintain a directors’ and officers’ insurance policy
pursuant to which our directors and officers are insured against
liability for actions taken in their capacities as directors and
officers.
We have
entered into an underwriting agreement in connection with this
offering, which provides for indemnification by the underwriter of
us, our officers and directors, for certain liabilities, including
liabilities arising under the Securities Act.
Insofar
as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions or otherwise,
the registrant has been advised that in the opinion of the SEC such
indemnification is against public policy as expressed in the
Securities Act and is, therefore, unenforceable.
Item 7. Exemption from Registration Claimed.
Not
applicable.
Item 8. Exhibits.
The
Exhibit Index on the page immediately preceding the signature page
is incorporated herein by reference as the list of exhibits
required as part of this registration statement.
Item 9. Undertakings.
(a) The
undersigned Registrant hereby undertakes:
(1) To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration
statement,
(i) to
include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii) to
reflect in the prospectus any facts or events arising after the
effective date of this registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set
forth in this registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the
form of prospectus filed with the SEC pursuant to Rule 424(b) if,
in the aggregate, the changes in volume and price represent no more
than 20% change in the maximum aggregate offering price set forth
in the “Calculation of Registration Fee” table in the
effective registration statement; and
(iii)
to include any material information with respect to the plan of
distribution not previously disclosed in this registration
statement or any material change to such information in this
registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii)
do not apply if this registration statement is on
Form S-8 and the information required to be included in a
post-effective amendment by those paragraphs is contained in
reports filed with or furnished to the SEC by the Registrant
pursuant to Section 13 or Section 15(d) of the Exchange
Act that are incorporated by reference in this registration
statement.
(2)
That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering
thereof.
(3) To
remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the
termination of the offering.
(b) The
undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of
the Registrant’s annual report pursuant to Section 13(a)
or Section 15(d) of the Exchange Act (and, where applicable,
each filing of an employee benefit plan’s annual report
pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in this registration statement shall be
deemed to be a new registration statement, relating to the
securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering
thereof.
(c)
Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and
controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in
the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant
of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in
the Securities Act and will be governed by the final adjudication
of such issue.
EXHIBIT INDEX
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Incorporated
by Reference
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Exhibit
Number
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Exhibit
Description
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Form
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File
No.
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Exhibit
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Filing
Date
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Filed
Herewith
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Second
Amended and Restated Certificate of Incorporation of Super League
Gaming, Inc.
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S-1
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333-229144
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3.1
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1/4/2019
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Second
Amended and Restated Bylaws of Super League Gaming,
Inc.
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S-1
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333-229144
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3.2
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1/4/2019
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Opinion
of Disclosure Law Group, a Professional Corporation
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X
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Super
League Gaming, Inc. Amended and Restated 2014 Stock Option and
Incentive Plan
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S-1
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333-229144
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10.1
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1/4/2019
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Form of Stock
Option Agreement under the Amended and Restated 2014 Stock Option
and Incentive Plan
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S-1
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333-229144
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10.2
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1/4/2019
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Form of Restricted
Stock Unit Agreement under the Amended and Restated 2014 Stock
Option and Incentive Plan
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X
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Consent
of Squar Milner LLP
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X
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Consent
of Disclosure Law Group, a Professional Corporation (included in
Exhibit 5.1)
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X
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Power
of Attorney (see signature page)
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X
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SIGNATURES
Pursuant to the
requirements of the Securities Act, the Registrant certifies that
it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly
caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Santa
Monica, State of California, on May 8, 2020.
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SUPER LEAGUE GAMING,
INC.
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By:
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/s/ Ann Hand
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Ann
Hand
Chief Executive Officer, President and Chair of the
Board
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Each
person whose signature appears below hereby constitutes and
appoints Ann Hand and Clayton Haynes, and each of them singly (with
full power to each of them to act alone),
his attorneys-in-fact, each with the full power of
substitution, for him in any and all capacities, to sign this
registration statement, and any amendments thereto (including
post-effective amendments), and to file the same, with all exhibits
thereto and other documents in connection therewith, with the SEC,
hereby ratifying and confirming all that each of
said attorneys-in-fact, or his substitute or substitutes,
may do or cause to be done by virtue hereof. Pursuant to the
requirements of the Securities Act, this registration statement has
been signed below by the following persons on behalf of the
Registrant and in the capacities and on the dates
indicated.
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Signature
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Title
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Date
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/s/
Ann Hand
Ann Hand
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Chief Executive
Officer, President
and
Chair
of the Board
(Principal
Executive Officer)
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May 8,
2020
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/s/ Clayton
Haynes
Clayton
Haynes
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Chief Financial
Officer
(Principal
Financial and Accounting Officer)
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May 8,
2020
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/s/ David
Steigelfest
David
Steigelfest
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Chief Product and
Technology Officer
and
Director
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May 8,
2020
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/s/ Jeff
Gehl
Jeff
Gehl
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Director
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May 8,
2020
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/s/ Mark Jung
Mark
Jung
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Director
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May 8,
2020
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/s/ Kristin
Patrick
Kristin
Patrick
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Director
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May 8,
2020
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/s/ Michael
Keller
Michael
Keller
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Director
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May 8,
2020
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