Mr. Darcy Krogh reports

PLAYGON GAMES - MAKER OF VEGASLOUNGE ANNOUNCES THIRD QUARTER PLAYER ACTIVITY MILESTONES

Playgon Games Inc. has made key milestones for Q3 2023 ending in September.

Playgon's player activity continues to scale at our live dealer tables since our last quarter. Our quarterly wagering turnover increased to $449-million in Q3 2023 from $409-million in Q2 2023, representing a 10-per-cent increase. The company's average daily wagering turnover increased to $4,879,000 in Q3 2023 from $4,483,000 in Q2 2023 representing a 9-per-cent increase.

Through three quarters of player wagering activity in 2023 Playgon's live dealer tables have accommodated approximately $1.2-billion in wagers compared to the same period in 2022 of $697-million, representing a 72-per-cent year-over-year increase.

"Our sales and integration pipeline continues to be strong, and our business continues to scale. The industry remains strong and Playgon is well postioned to participate in the ongoing growth. We look forward to announcing, new games, new markets and new partnerships soon," commented Darcy Krogh, chief executive officer of Playgon Games.

Completion of shares for debt transaction

The company further announces that it has completed its shares for debt transaction as previously announced by way of press release dated July 12, 2023. As part of the transaction, the company issued an aggregate of 32,045,130 common shares of the company in full and final settlement of $2,243,159.04 in aggregate debt representing short term loans to the company, various trade payables and certain board fees that were due and payable by the company. Of the 32,045,130 common shares of the company that were issued, an aggregate of 10,347,494 common shares were issued to related parties of the company. All of the common shares were issued at a deemed price of seven cents per share. A portion of this transaction may constitute a related party transaction pursuant to Multilateral Instrument 61-101 and TSX Venture Exchange Policy 5.9. The company is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25 per cent of the company's market capitalization. The shares will be subject to a hold period of four months and one day from the date of issuance.

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, 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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