The TSX Venture Exchange has accepted for filing documentation with respect to the company's arm's-length acquisition of 100 per cent of Slapshot Media Inc. The company has acquired Slapshot for a consideration of $2.6-million, payable as follows:

• $2.1-million paid by the issuance of 3,818,181 common shares at a deemed value of 55 cents on the closing date (issued);
• An earnout payment of up to $500,000 based on revenue performance of Slapshot, payable on a quarterly basis over one year following the closing, in common shares with a deemed value per share equal to the greater of: (i) a 20-day volume weighted average price calculated at the end of each applicable quarter; and (ii) 45 cents per share (maximum of 1,111,111 common shares issuable).

Please refer to the company's news releases dated April 25, 2023, and May 8, 2023.