Mr. Mike Marrandino reports

PLAYGON ANNOUNCES INTENTION TO COMPLETE SHARES FOR DEBT TRANSACTIONS

Playgon Games Inc. intends to complete share-for-debt transactions pursuant to Policy 4.3 of the TSX Venture Exchange corporate finance manual. Pursuant to the proposed share-for-debt transactions, the company intends to settle: (i) an aggregate amount of $223,870.61 relating to aggregate interest payments owed to the company's debentureholders pursuant to the unsecured convertible debentures issued by the company on Jan. 19, 2023, March 24, 2023, and May 3, 2023, under a debenture indenture dated Jan. 19, 2023, as supplemented on May 3, 2023, and a debenture certificate issued on May 3, 2023, at a deemed price per share equal to seven cents for a total issuance of 3,198,148 common shares of the company; (ii) an aggregate amount of $2,170,659.04 relating to amounts currently owing and outstanding pursuant to short-term promissory notes and other trade payables of the company at a deemed price per share equal to seven cents for a total issuance of 31,009,415 common shares; and (iii) an aggregate amount of $72,500 relating to amounts currently owing and outstanding pursuant to board fees owed to certain of the company's board members at a deemed price per share equal to seven cents for a total issuance of 1,035,715 common shares.

A portion of the share-for-debt transactions will constitute related party transactions pursuant to Multilateral Instrument 61-101 and Policy 5.9 of the TSX-V corporate finance manual. The company intends to rely on available exemptions from the formal valuation and minority shareholder approval requirements as provided for under MI 61-101 as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transactions, insofar as it involves related parties of the company, exceeds 25 per cent of the company's market capitalization.

The proposed share-for-debt transactions remain subject to the approval of the TSX Venture Exchange.

About Playgon Games Inc.

Playgon is a SaaS (software-as-a-service) technology company focused on developing and licensing digital content for the growing i-gaming market. The company provides a multitenant gateway that allows on-line operators the ability to offer their customers innovative i-gaming software solutions. Its current software platform includes live dealer casino, e-table games and daily fantasy sports, which, through a seamless integration at the operator level, allows customer access without having to share or compromise any sensitive customer data. As a true business-to-business digital content provider, the company's products are ideal turnkey solutions for on-line casinos, sportsbook operators, land-based operators, media groups and big database companies.

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