Champion Gaming Group Inc. announced a non-brokered private placement of up to 5,555,555 units at a price of CAD 0.09 per unit for aggregate gross proceeds of up to CAD 500,000 on August 1, 2023. Each unit shall be comprised of one common share and one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.20 per common share for a period of two years from the closing of the transaction.

The company may pay the finders a cash commission equal to 8% of the gross proceeds and issue broker warrants equal to 8% of the number of units issued pursuant to the transaction. Each broker warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.20 per share for a period of two years from the closing. All securities issued will be subject to a hold period of four months plus a day from the date of issuance.

The closing of the transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.