Mr. Mike Marrandino reports

PROPOSED SHARES FOR DEBT

Playgon Games Inc. intends to settle an aggregate of $127,036.67 of debt, representing interest payments owed to the holders of previously issued convertible unsecured debentures, via the proposed issuance of 2,540,731 common shares of Playgon at a deemed issuance price of five cents per common share (calculated based on the applicable VWAP (volume-weighted average price) as contemplated under the indenture (as defined herein)).

The proposed issuance includes an aggregate issuance of approximately 2,425,732 common shares (reflecting the settlement of $121,286.68 in interest payment debt) to insiders of Playgon who participated in the financing. As previously disclosed, the debentures were issued by Playgon on Dec. 29, 2023, pursuant to a debenture indenture dated Jan. 19, 2023 (as supplemented by a second supplemental indenture dated Dec. 29, 2023), among Playgon and Odyssey Trust Company, as trustee. Pursuant to the terms of the indenture, Playgon is authorized, at its discretion, to satisfy any portion of interest payments owed by way of the issuance of common shares by providing notice to the trustee. The proposed shares for debt transaction is subject to the terms and conditions set forth in the policies of the TSX Venture Exchange and the completion of the shares for debt transaction, as well as the issuance of the common shares, remains subject to the review and approval of the TSX-V.

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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