Prime City and Champion Gaming Provide Update Regarding Proposed Reverse Takeover

November 03, 2021 4:39 PM EDT | Source: Champion Gaming Group Inc.

Toronto, Ontario--(Newsfile Corp. - November 3, 2021) - Prime City One Capital Corp. (TSXV: PMO.H) ("Prime City" or the "Company") and Champion Gaming Inc. ("Champion") are pleased to announce that, further to its press release dated September 8, 2021 and in connection with the proposed reverse take-over of the Company by Champion (the "Transaction"), Champion has closed the second tranche of its previously announced non-brokered private placement (the "Champion Private Placement") through the issuance of 400,000 common shares (each, a "Common Share") at a price of $0.25 per Common Share for aggregate gross proceeds of $100,000.

Together with the first tranche of the Champion Private Placement, Champion issued a total of 18,870,000 Common Shares for aggregate gross proceeds of $4,717,500. The net proceeds of the Champion Private Placement are expected to be used in connection with the Transaction, its previously announced EdjSports Acquisition and for working capital and general corporate purposes.

For further information, please contact:
Prime City Capital Corp.
Cameron Wickham
Chief Executive Officer
T: (905) 330-1602
E: wickham.cameron@gmail.com

Champion Gaming Inc.
Ken Hershman
Chief Executive Officer
T: (917) 768-5010
E: ken@championgaming.com

Forward-looking Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the intention to complete the Transaction. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct, or that the Transaction will be completed as proposed or at all. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSX-V acceptance. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. The TSX-V has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101929

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