Mr. Graham Simmonds reports

CHAMPION GAMING GROUP ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF UNITS

Further to the press release of Oct. 25, 2022, Champion Gaming Group Inc. has closed its non-brokered private placement through the issuance of 4.1 million units at a price of 7.5 cents per unit for aggregate gross proceeds of $307,500. Each unit is composed of one common share in the capital of the company and one common share purchase warrant in the capital of the company. Each warrant shall entitle the holder thereof to acquire one common share at a price of 15 cents per common share for a period of two years from the closing of the offering.

All securities issued pursuant to the offering 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. The net proceeds from the sale of the units will be used for general working capital purposes.

In connection with the offering, the company paid certain eligible persons cash commissions in the aggregate of $22,467.90 and issued the finders an aggregate of 299,572 broker warrants. Each broker warrant entitles the holder thereof to acquire one common share at a price of 15 cents per common share for a period of two years from the closing of the offering.

About Champion Gaming Group Inc.

Champion Gaming is a sports content, data and analytic 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 Gaming 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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