Mr. Corey Goodman reports

NORTHSTAR GAMING ANNOUNCES EXTENSION OF STRATEGIC MARKETING AGREEMENT AND SHORT-TERM FINANCING FROM PLAYTECH

(i) Northstar Gaming (Ontario) Inc., a wholly owned subsidiary of Northstar Gaming Holdings Inc., has extended its strategic partnership with Playtech Software Ltd. through the renewal of their previously announced strategic marketing agreement and ii) Playtech PLC has advanced $3-million of short-term financing to the company. All figures are quoted in Canadian dollars.

Northstar Ontario and Playtech Software have extended the marketing agreement implemented last year to accelerate Northstar Ontario's player acquisition strategy in Ontario. The initial agreement, announced by the company on June 23, 2023, resulted in a total contribution of services from Playtech Software valued at $4-million and was a significant driver of Northstar Ontario's growth in 2023. Under the renewal announced today, Playtech Software will provide similar marketing services in Ontario, valued at up to $4-million, through to Oct/ 31, 2024. Playtech Software will be reimbursed and compensated through a share of revenue from the income generated in connection with the marketing initiatives to which it contributes.

Separately, the company has issued a $3-million unsecured, interest-bearing promissory note dated as of April 25, 2024, to Playtech PLC. The note shall bear interest of 8 per cent per annum, payable in arrears at maturity. Unless otherwise accelerated pursuant to its terms, the note will become immediately due and payable on the earlier of (i) the date which is 12 months from April 25, 2024; and (ii) the date on which the company or any of its subsidiaries completes additional financing transactions with aggregate gross proceeds of at least $10-million, subject to certain exceptions. Proceeds from the note will be used to finance the company's continued growth and for general corporate purposes.

"We are very pleased to continue to strengthen our relationship with Playtech, one of the world's leading gambling technology companies," said Michael Moskowitz, chair and chief executive officer of Northstar. "Their ongoing support has been instrumental in helping us to acquire new customers, provide a premium on-line gaming experience, and fund the expansion of our brand in Ontario and across Canada."

The issuance of the note constitutes a related party transaction"within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, as Playtech PLC or its affiliates have control or direction over securities of the company carrying more than 10 per cent of the voting rights attached to the company's outstanding voting securities. In respect of such related party transaction, the company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a), 5.5(b), 5.7(1)(a) and 5.7(1)(f) of MI 61-101. A material change report was not filed by the company at least 21 days before the closing of the note offering, as the company was required to sign and close expeditiously. In the view of the company, this approach is reasonable in the circumstances. The note offering was approved by all of the independent directors of the company.

About Northstar Gaming Holdings Inc.

Northstar proudly owns and operates Northstar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The Northstar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment, along with the most popular on-line casino games.

A Canadian company, Northstar is uniquely positioned to become a convergence leader in the intersection of sports media and sports wagering thanks to its partnerships and agreements with leading media companies. Northstar is committed to operating at the highest level of responsible gaming standards.

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