VIP Entertainment Technologies Inc. Announces Acquisition of Federal Gaming License – Marketscreener.com

(via Newswire)

CalgaryTOB- TheNewswire –April 5, 2023VIP Entertainment Technologies Inc.(TSXV:VIP)(“VIPorCompany“) I am very pleased to announce that the letter of the binding of the arm has been signed April 4, 2023To acquire Contagious games (“pestilential“) and its United Kingdom Foruming License (“UKGL“).

Under the terms of the agreement, VIP will acquire all issued and outstanding shares of Contagion, the principal of which is an active United Kingdom Gaming License. VIP is enthusiastic about the prospect of continued growth through the UKGL acquisition. This business enables the company to have immediate access to new and existing users under such a prestigious license. This license covers the territory of one of the largest sports and sports betting markets per capita globally.

VIP expects to complete a definitive agreement within a few days on the terms expressed in the proposed binding letter. Full payment for the lease will be due in the form of a net gaming revenue sharing arrangement. VIP and pay up to $1,000,000 CDN only from 10% of the net revenue after expenses derived from the limits under the acquisition license. Completion of the acquisition of Contagious is subject to a number of conditions, including, but not limited to, the negotiation of definitive documents and the receipt of any required regulatory approvals.

VIP also greatly anticipates the concession kahnawake He applied for a gambling license in the near future, which will give the company the ability to market its gambling and gymnasium book lists throughout. Canada except * Ontario. The county enjoyed eminent success Canada prior to listing on the TSX.5 and expects to re-engage with its past players while developing a market strategy to acquire new players within Canadian borders.

VIP aims to expand its core business in the iGaming industry through strategic acquisitions such as Contagious Games to transform itself into a major entertainment gaming company in a rapidly developing and growing industry. The acquisition of Contagion and its UKGL is a huge step for VIP to expand its presence in the gaming industry. VIP’s goal is to grow into a more diversified entity, which acquisition allows VIP to immediately increase its global exposure.

VIP continues to close the announced offer March 6, 2023 (the “Offer”). In light of this new acquisition VIP has increased the size of its Private Placement offering from 2.5 million Units to 3 million Units to $0.25 per Unit, consisting of one common share of the Company (each a “Common Share”) and one-half share of one common purchase warrant (each full warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share from the Company at the Company’s price $0.50 per Common Share will expire 24 months from the date of issue. Proceeds to work capital and marketing purposes

All securities issued pursuant to the Offering will be subject to a statutory custody of four months plus the date of issuance in accordance with applicable securities laws. The closing of the offering is subject to certain conditions including, but not limited to, receipt of all necessary regulatory and other approvals, upon approval. TSX Venture Exchange.

The company also announces that it will not proceed with the Outside Box Capital Investor Relations agreement as previously announced.

About VIP Entertainment Technologies Inc.

VIP offers sports betting, casino games and poker through its VIP Bets platform. In addition, he recently launched his free platform, VIPFree2Play, and his You play Daily Fantasy platform including a * Lake App Store version as well as a mobile and desktop compatible site. The company plans to continue to expand its role in the gaming industry. Since 2016, he has handled VIP approx $150,000,000 in betting through licensed online gambling services.

For further information please visit www.vipertainmentgroup.ca or contact:

Joel Donais -Chief Executive


[email protected]

Neither the TSXV nor its Services Provider Organization (as that term is defined in the Rules of Procedure TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this solution.

This news release contains certain statements that may provide information subject to securities laws. All statements, other than those of historical fact, concerning actions, events, results, events, developments, results or events that VIP has anticipated or anticipated may or may not be considered future (in whole or in part). information Often, but not always, forward-looking statements may use the words “plans,” “expects,” “anticipates,” “provisions,” “approach,” “estimates,” “forecasts,” “intends” or “believes,” or variations (including negative variations) of such words and expressions, or propositions formed in the future tense or signifying certain actions, events or events “may”, “may”, “will”. , to become, or to happen.

Forward-looking statements are based on assumptions, including expectations and assumptions regarding the company’s growth plan and the benefits of the acquisition and completion of the offering. While VIP considers these assumptions to be reasonable, based on available information, they may be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including without limitation risks associated with general economic conditions; certainly energy in the face of adversity; future legislative, tax and regulatory developments. Readers are advised that the foregoing non-exhaustive list and other risks are disclosed to the public and are posted on www.sedar.com under the membership. Readers should be cautioned not to place undue reliance on forward-looking statements, since nothing can be certain that the plans, intentions, and expectations in which they are expressed may occur. Such information, although considered reasonable at the time of its preparation, may be inaccurate and actual results may differ materially from those anticipated. For more information on risks, uncertainties and assumptions that could cause actual events and opportunities to differ materially, please refer to the public announcements. VIP Entertainment Technologies Inc. which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this warrantyOur statement and expectations are subject to change to reflect the current times and so on. VIP Entertainment Technologies Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


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