Mr. Graham Simmonds reports

CHAMPION GAMING ISSUES PROMISSORY NOTES

Champion Gaming Group Inc., further to its press release of July 28, 2022, has entered into secured promissory notes with arm's-length creditors to the company, of an aggregate principal amount of $800,000. The promissory notes are secured by a general security agreement over the assets of the company and will mature on Aug. 3, 2024. The loan amount will be used by the company for general working capital purposes.

In connection with the Promissory Notes, the Company issued an aggregate of 1,600,000 common shares (the "Common Shares") of the Company, representing 20% of the Loan Amount divided by the Market Price (as defined and determined in accordance with the policies of the TSX Venture Exchange (the "TSXV")) at a deemed price of $0.10 per Common Share as a loan bonus. All Common Shares issued in connection with the Promissory Notes will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

Interest on the outstanding principal amount of the Promissory Notes will accrue from the original date of issue at a rate of fifteen percent (15%) per annum until the Maturity Date. Interest will be payable quarterly, in cash or Common Shares at the option of the Company at the then current market price of the Common Shares, subject to the policies of the TSXV. Furthermore, in the event that the Company elects to repay any principal amount of the Promissory Notes prior to the Maturity Date, the Company will pay an early repayment penalty in an amount equal to the amount of interest that would otherwise be payable up to the Maturity Date in cash or Common shares at the option of the Company at the then current market price of the Common Shares, subject to the policies of the TSXV.

About Champion Gaming

Champion Gaming is a sports content, data and analytics company that provides predictive and prescriptive analytical models and win probability applications and statistics in the sports industry for teams, media, fans, and bettors. The sports analytical and data solutions currently offered by Champion to its customers include: a fully customized probability engine, interactive sports matchup models, spread and over/under distributions, and sports statistics and historical data statistics.

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