Mr. Prit Singh reports

FANSUNITE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Fansunite Entertainment Inc. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) for a 12-month period.

Under the terms of the renewed NCIB, Fansunite may purchase up to 17,898,515 common shares of the company, representing 5 per cent of the 357,970,305 issued and outstanding shares as of June 14, 2023. The NCIB will commence on June 20, 2023, and may extend for a period of up to 12 months from the commencement date.

The number of shares to be purchased per day, other than purchases made pursuant to the block purchase exception, will be limited to 57,910 shares, which represents 25 per cent of the average daily trading volume of 231,642 shares on the TSX for the six months ending May 31, 2023. The company intends to acquire seven million shares under the NCIB, representing approximately 1.96 per cent of the issued and outstanding shares. The actual number of shares purchased under the NCIB and the timing of the purchases will depend on market conditions and cash available, and shall be in compliance with TSX rules and policies, and National Instrument 62-104 -- Take-Over Bids and Issuer Bids. Purchases will be made on the open market through the facilities of TSX, other designated exchanges and/or alternative trading systems in Canada and the United States. All purchases by the company under the NCIB will be made through Research Capital Corp., as broker dealer of the company, using Fansunite's existing cash resources, and all shares purchased under the NCIB will be cancelled.

The company proposes to renew the NCIB because it believes that the market price of the shares may not, from time to time, fully reflect their value and accordingly, the purchase of the shares would be in the best interest of the company, as well as an attractive and appropriate use of available funds. It is expected that any purchases made by the company could also enhance value and liquidity for its shareholders.

Under its prior NCIB, which commenced on June 15, 2022, and ended on June 14, 2023, Fansunite obtained approval to purchase up to a total of 10 million Shares, of which the company purchased 552,000 shares at a volume-weighted average price of 13 cents per share. Purchases were made on the open market through the facilities of the TSX, other designated exchanges and/or alternative trading systems in Canada and the United States.

About Fansunite Entertainment Inc.

Fansunite is a global sports entertainment and gaming company. Its business is focused on the regulated and lawful sports betting affiliate market which includes customer acquisition, retention, support and reactivation. Fansunite has established itself as a leader in the North American affiliate market through its subsidiary American Affiliate Co LLC (AmAff). AmAff is a North American omnichannel customer acquisition company, covering both retail and digital customer activation for sportsbooks, casinos, poker and fantasy sports platforms.

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