Mr. Matt Bailey reports

GAMEON DRIVES RECORD $2.44M IN ADJUSTED REVENUE, FILES AUDITED FINANCIAL STATEMENTS FOR FISCAL YEAR 2023

GameOn Entertainment Technologies Inc. has filed its audited financial statements for the 2023 fiscal year ended Dec. 31, 2023.

Highlights of the financial statements include record numbers:

• Generally accepted accounting principle revenue reached $1.51-million (295-per-cent increase year on year).
• Non-GAAP adjusted revenue reached $2.44-million (123-per-cent increase year on year).
• Net loss was $3.21-million, including share-based compensation (25-per-cent decrease year on year).
• Net cash flows used in operating activities was $942,000 (56-per-cent decrease year on year).

"Two thousand twenty-three saw a year of exponential growth for the company," said GameOn chief executive officer Matt Bailey. "As proven by the numbers, the business is rapidly improving each period. We've been emboldened to remain patient, optimize resources, and focus diligently on our fastest path to scaled revenue and profitability."

The company believes the following non-GAAP financial measures provide meaningful insight to its shareholders in understanding the company's performance, and may assist in the evaluation of the company's business relative to that of its peers.

Two thousand twenty-three business highlights and subsequent events include:

• Partnered with premier sports leagues, Laliga, PFL and Karate Combat;
• Received non-dilutive grant funding from leading blockchains, Hedera and Arbitrum;
• Partnered with Sportsology to design, develop and launch the $game token;
• Launched the GameOn beta mobile app on the Apple App Store and Google Play.

"Two thousand twenty-four is set to be another leap of progress for the company," said Mr. Bailey. "Continued growth will be spearheaded by new league partnerships, $game's recent launch on major exchanges, and GameOn's launch on the Apple App Store and Google Play. We're well on track to continue the upward trajectory we've seen since going public."

See SEDAR+ for full copies of the company's consolidated financial statements and management's discussion and analysis.

About GameOn Entertainment Technologies Inc.

Founded in 2018, GameOn is a mobile-first, next-generation sports gaming company, integrating Web3 technology to enhance player engagement and asset ownership. Through partnerships with premier sports leagues such as Laliga, PFL and Karate Combat, and leveraging blockchain solutions from Arbitrum, GameOn is delivering a rich, interactive fantasy sports gaming experience. The $game token, crafted in partnership with Sportsology, allows fans globally to compete, engage and win rewards based on actual sports results. GameOn is setting new standards in the evolution of fantasy gaming, offering unprecedented ways for fans to connect with the sports they love.

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