Mr. Tom Hearne reports

TIIDAL ANNOUNCES EXPIRY AND RESULTS OF SUBSTANTIAL ISSUER BID

Tiidal Gaming Group Corp. has released the preliminary results of its substantial issuer bid, which expired at 5 p.m. Eastern Time on Dec. 7, 2023, pursuant to which the company offered to purchase for cancellation all of its issued and outstanding common shares, being 87,603,908 shares, for aggregate cash consideration of up to $10,731,478.73, or 12.25 cents per share.

An aggregate of approximately 82,692,460 shares were validly tendered under the offer. In accordance with the terms of the offer and based on the preliminary calculations of Odyssey Trust Company, as depositary for the offer, the company expects to take up and pay for approximately 82,692,460 shares at a purchase price of 12.25 cents per share under the offer, representing an aggregate purchase price of $10,129,826.35 and approximately 94.4 per cent of the total outstanding shares. On conclusion and after giving effect to the offer, Tiidal expects to have 4,911,448 shares outstanding.

The number of shares to be purchased is preliminary and remains subject to verification by Odyssey Trust, as depositary for the offer, and assumes that all shares tendered through notice of guaranteed delivery will be delivered within the settlement period. Upon take up and payment of the shares purchased under the offer, the company will release the final results of the offer. The company expects to take up and make payment for the shares validly tendered under the offer on or about Dec. 15, 2023, in accordance with the terms of the offer and applicable law.

The full details of the offer are described in the offer to purchase and issuer bid circular dated Oct. 27, 2023, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available under the company's profile on SEDAR+.

This news release is for informational purposes only and is not intended to and does not constitute an offer.

Odyssey Trust acted as the depositary for the offer and any questions regarding the offer may be directed to corp.actions@odysseytrust.com.

About Tiidal Gaming Group Corp.

Tiidal Gaming is a media and technology platform enabling next-generation engagement in e-sports and gaming. The company is positioned at the intersection of gaming, media and betting and enables its partners to create positive, engaging and immersive fan and consumer experiences. With deep industry roots and expertise, Tiidal is focused on the next generation of fan and consumer and building the future of game-based entertainment.

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