Brand X Lifestyle Corp's Investment, FansUnite and Askott Entertainment, Announce Closing of Oversubscribed Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - Brand X Lifestyle Corp., (CSE: BXXX) ("Brand X" or the "Company") is pleased to announce updates on its investment in FansUnite Entertainment Inc. ("FansUnite"). On July 31, 2020, FansUnite and Askott Entertainment ("Askcott") closed their brokered private placement of 12,524,615 Subscription Receipts at a price of $0.40 per Subscription Receipt for aggregate gross proceeds of $5,009,846 (the "Private Placement").

"We are very excited to announce the oversubscribed financing completed by our investees FansUnite and Askott as it will provide them with the necessary capital to continue to execute their business plan and build shareholder value for both FansUnite and Brand X shareholders, " commented Luke Montaine, COO of Brand X.

For more detailed information on the private placement terms and approval click link below:

https://www.stockwatch.com/News/Item?bid=Z-C%3aFANS-2942141&symbol=FANS&region=C

About Askott Entertainment Inc.

Askott is a Vancouver based software development company with a team that has been building award-winning online gambling software since 2013. Askott has produced a one of a kind complete iGaming platform, Chameleon Gaming Platform, with an esports first focus geared for the next generation of online bettors and casino players. The platform includes products for pre-match betting, in-play betting, daily fantasy, content and a certified RNG to produce casino style chance games. Askott has been using the Chameleon platform for their own free-to-play internal brands as well as recently signed external real-money partners.

About FansUnite Entertainment Inc.

FansUnite is a sports and entertainment company, focusing on technology related to regulated and lawful online gaming and other related products. The principal business is operating the FansUnite Sportsbook and the website of its wholly-owned subsidiary, McBookie Limited, offering online gaming services to the UK market. FansUnite is also a provider of technology solutions, products, and services in the gaming and entertainment industry and looks to acquire technology platforms and assets with high-growth potential in new or developing markets.

About Brand X Lifestyle Corp.

Brand X is an investment issuer that actively invests in a diversified portfolio of early-stage to mid-level companies. Brand X leverages its extensive network of operators and global thought leaders to provide investors with unparalleled access to investments that are not normally accessible to the average retail investor. In addition to Ag Tech and Mining Tech IP, the Brand X portfolio now includes IP within the Global Hemp Consumer Brand vertical. Brand X provides capital, experience, and support to emerging market leaders in the progressive health, wellness, and technology spaces while building shareholder value.

Contact:

Arni Johannson, CEO
Tel: 604-349-3011

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60999