Gamelancer Media Makes Final Payment in Distribution Network Acquisition

Gamelancer Media Secures Future Growth with Final Payment & is Focused on Expanding Its Global Digital Media Strategy

TORONTO, ON / ACCESSWIRE / July 6, 2023 / Gamelancer Media Corp. (CSE:GMNG)(OTCQB:GAMGF)(FRA:P93) ("Gamelancer" or the "Company") a leading digital media, entertainment, production and distribution company, is pleased to announce that further to its press release dated April 14, 2022 regarding the acquisition of Gamelancer, Inc. pursuant to a stock purchase agreement dated March 21, 2022 (the "Purchase Agreement") between the Company and the former shareholders of Gamelancer, Inc. ("Former Gamelancer Shareholders"), the Company has made the final purchase price payment of an aggregate of USD$4,840,282.44 ("Final Payment") to the Former Gamelancer Shareholders, of which the Company has agreed with the Former Gamelancer Shareholders to settle an aggregate of USD$1,000,000 (C$1,333,333) of the Final Payment through the issuance of 13,333,334 common shares in the capital of the Company at a price of $0.10 per common share (the "Settlement"). The common shares issued pursuant to the Settlement are subject to a four-month hold period.

The common shares issued pursuant to the Settlement constituted a "related party transaction" as defined in Multilateral Instrument 61- 101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as insiders of the Company acquired an aggregate of 9,497,415 common shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the common shares being issued to insiders in connection with the Settlement does not exceed $2,500,000, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the issuance of the common shares, which the Company deems reasonable in the circumstances in order to complete the Settlement in an expeditious manner. The Settlement was approved by all independent directors of the Company.

The acquisition of the Gamelancer Gaming network was a pivotal step in shaping the robust business model that is now Gamelancer Media Corp. This strategic investment played a critical role in the digital media, entertainment, production, and distribution framework. Gamelancer Media has gained exclusive access to a vast network comprising popular platforms like TikTok, Snapchat, and Instagram. With a remarkable following of over 41 million Gen Z and Millennials across 54 channels, this strategic move solidifies Gamelancer's substantial foothold in the highly coveted demographic.

The strategic investment in this asset complements Gamelancer Media's in-house production capabilities and extensive Creator network, enabling the Company to curate captivating content and foster meaningful partnerships within the gaming and entertainment industry. The Gamelancer Gaming network represented the final piece in the Company's comprehensive business model, empowering it to offer unique and immersive experiences to an ever-growing community of passionate gamers and content enthusiasts.

"I am fully dedicated to driving the Company's success as we strive for excellence in the digital media space," says Razvan Romanescu, Co-Founder, Director, and Chief Strategy Officer, "Being a part of the journey of Gamelancer, from its humble beginnings to emerging as a formidable force in this industry, fills me with immense pride. We take solace in the fact that the majority of Gamelancer Media's outstanding shares are held by committed, long-term stakeholders, reinforcing our assurance in the stability and resilience of our company."

"As a Co-Founder, Director, and an Officer of Gamelancer Media, I share Raz Romanescu's commitment to driving our company's success," states Darren Lopes, Director, and Chief Product Officer, "The finalization of this payment marks a significant milestone and highlights our unified strength, propelling us with renewed confidence and determination in the ever-evolving digital media industry. Choosing additional equity rather than receiving our final acquisition payment in cash emphasizes our conviction in Gamelancer's long-term potential."

About Gamelancer

Acquired by Wondr Gaming, Gamelancer Media Corp. is a media & entertainment company producing short-form video content for brands, with broadcast on its owned and operated TikTok, Snapchat, and Instagram channels. Gamelancer Media will focus on developing new brand, agency, and creator relationships and new opportunities for existing associates through its strategic partnerships with TikTok North America, Snap Inc., and Dubit. The media company currently works with companies such as Samsung, Belkin, Celsius, and several other notable brands. The company produces and distributes content across its 54 owned-and-operated channels to over 41 million followers & subscribers, generating over 2 billion monthly video views and growing by over 1.5 million new followers monthly. A majority of the Gamelancer's audience are located in the USA, Canada, the UK, and Australia.

With advanced user data analytics, Gamelancer provides its audience with content relevant to the Gen Z & Millennial respective communities. Gamelancer owns the largest gaming media inventory on TikTok. Gamelancer also monetizes across its Snapchat Discover channels in partnership with Snapchat.

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For further information, please contact:

Jon Dwyer, Chairman and Chief Executive Officer
Tel: (416) 627-8868
Email: ir@gamelancer.com
IR Email: info@gamelancer.com

Forward Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Gamelancer Media Corp.