Mr. Athan Lekkas reports

SQID TO DIVEST ICON ESPORTS PTY LTD

SQID Technologies Ltd. has entered a share sale agreement (at arm's length) with BLSS Holdings Pty. Ltd., whereby, subject to completion, BLSS will acquire 100 per cent of Icon Esports Pty. Ltd.'s share capital. SQID will be entitled to a share of EBITDA (earnings before interest, taxes, depreciation and amortization) generated by Icon for three calendar years following the completion date. The EBITDA share is 10 per cent in the first and second calendar years and 8 per cent in the third calendar year.

The Icon divestment will unencumber SQID's balance sheet and ability to pursue strategic initiatives.

Icon Esports is a leading Australia and New Zealand e-sports and gaming organization, focused on the commercial landscape of the Oceanic market through brand-driven marketing campaigns, partnerships and merchandise to its e-sports and gaming audience.

BLSS, located in Queensland, Australia, is a prominent e-sports organization and gaming facility company and will continue to operate the Icon brands, led by its chief operating officer, Brendan Harms.

As part of the transfer, e-sports industry veteran Chris Smith will be joining BLSS as an adviser on a 24-month contract to help ensure a smooth management transition process whilst focusing on opportunities to continue growing Icon revenues.

Nick Bobir has stepped down as Icon chief executive officer whilst the remainder of the Icon team will report through to BLSS leadership team.

We seek Safe Harbor.