Mr. Darcy Krogh reports

PLAYGON SUCCESSFULLY RECEIVES GAMING LABORATORIES INTERNATIONAL (GLI(R)) CERTIFICATION FOR ITS LIVE DEALER GAMES FOR ONTARIO

Playgon Games Inc. has successfully received GLI game certification for its live dealer games in accordance with the Alcohol and Gaming Commission Ontario (AGCO) technical requirements. Completing this certification, along with the previous GLI certification for the Las Vegas studio, positions the company for the commercial launch into the growing Ontario on-line gaming market. Additional jurisdictions will be completed over time and in stages as required when the company gets closer to customer launches; currently, they include Colombia, Italy and Mexico.

Last year, iGaming Ontario reported that Ontarians wagered about $35.6-billion in the first year of the market, a massive figure for the debut of on-line gaming in the province. It resulted in approximately $1.4-billion in total gaming revenue over that period, a figure that places the province in the top 5 of all North American jurisdictions, according to iGaming Ontario. Recently, iGaming Ontario just released record breaking number through three quarters of its 2023 year, beating the 2022 numbers with wagering surpassing $45.4-billion, up 27.5 per cent, and gaming revenues at $1.74-billion, up 24 per cent.

"We are excited to be part of this growing North American market," comments Darcy Krogh, chief executive officer of Playgon Games. "We have a number of commitments to take our VegasLounge live dealer offering into Ontario and this GLI certification, was the last step we needed prior to the launch in this market." Mr. Krogh adds, "Casino gaming represents over 70 per cent of wagering and revenues in Ontario so this gaming jurisdiction is absolutely a key market for us."

Completion of shares for debt transaction

The company further announces that it has completed its previously announced shares for debt transactions. As part of the transactions, the company issued an aggregate of 10,645,000 common shares of the company in full and final settlement of $532,250 in aggregate debt representing interest owed as at Dec. 31, 2023, on the previously issued unsecured convertible debentures of the company. Of the 10,645,000 common shares of the company that were issued, an aggregate of six million common shares were issued to a related party of the company. All of the common shares were issued at a deemed price of five cents per share. The portion of the transaction involving the related party constitutes 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.

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.

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