Mr. Carlo Rigillo reports

TIIDAL COMPLETES SUBSTANTIAL ISSUER BID

Tiidal Gaming Group Corp. has taken up and purchased for cancellation an aggregate of 83,256,650 common shares of the company at a price of 12.25 cents per share pursuant to its substantial issuer bid which expired on Dec. 7, 2023, for aggregate purchase price of $10,198,939.63.

Based on the final report of Odyssey Trust Company, as depositary for the offer, an aggregate of 83,256,650 shares were validly tendered. The shares purchased under the offer represented approximately 95 per cent of the total number of issued and outstanding shares. Prior to the completion of the offer, Tiidal had 87,603,908 shares issued and outstanding, and after giving effect to the offer and the take up of 83,256,650 shares, Tiidal has 4,347,258 shares issued and outstanding. Payment for the common shares accepted for purchase under the offer will be effected by Odyssey Trust Company on Dec. 18, 2023, in accordance with the offer and applicable law.

All of the directors and officers of the company and persons beneficially owning or exercising control or direction over more then 10 per cent of the outstanding shares have tendered all of their shares under the offer, as set forth herein. As a result, each of the interested persons listed herein does not have any voting interest in the company.

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

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+.

In connection with the completion of the offer, and further to the company's press release dated Oct. 30, 2023, the company has cancelled an aggregate of 1.57 million options of the company that had an exercise price of 10 cents per share (the in-the-money options) for consideration of 2.25 cents per in-the-money option, representing the difference between the exercise price of the in-the-money options and the purchase price under the offer, for aggregate consideration equal to approximately $35,325.

The company is also pleased to announce that, subject to the approval of the Canadian Securities Exchange, Carlo Rigillo, the company's chief financial officer, has been appointed as chief executive officer and director of the company, and Fraser Hartley and Dennis Beker have been appointed as an independent director.

Mr. Rigillo is a chartered professional accountant (CPA) and has over two decades of financial reporting and capital markets experience. Mr. Rigillo holds a bachelor of commerce (BCom) degree from the University of Toronto.

Mr. Hartley is a lawyer and a partner at the firm Edwards, Kenny & Bray LLP, practising in the areas of corporate and securities law. Mr. Hartley holds a bachelor of law (LLB) degree from the University of British Columbia.

Mr. Beker is a lawyer and a partner at the firm Founders LLP, practising in the areas of corporate and securities law. Mr. beker holds a juris doctor (JD) degree from Western University.

To create a vacancy for the appointments of Mr. Rigillo, Mr. Hartley and Mr. Beker, Tom Hearne has resigned as chief executive officer and director of the company, and each of Zachary Goldenberg, David Wang and Neil Duffy has resigned as directors of the company. Tiidal wishes to thank Mr. Hearne, Mr. Goldenberg, Mr. Wang and Mr. Duffy for their substantial contributions to the company which culminated in the sale of the company's Sportsflare operating division to a large global gambling company and wishes them the best in their future endeavours.

About Tiidal Gaming Group Corp.

Tiidal Gaming is a reporting issuer in the provinces of Ontario, British Columbia and Alberta, and its common shares are listed for trading on the Canadian Securities Exchange under the symbol TIDL.

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