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VANCOUVER, BC, October 25, 2022 /CNW/ – Kings Entertainment Group Inc. (“Entertainment of Kings“or the”Company“) (CSE: JKPT) (OTC: JKPTF) announces that at the annual general and special meeting (the “Meeting“) of the shareholders of the Company (the “Shareholders“) held the October 25, 2022shareholders voted in favor of all elements of the business, including its previously announced proposed business combination (the “Trade suit“) with Sports Venture Holdings Inc. (“SVH“), the parent company of the market leading brand Bet99.

Kings Entertainment Group Inc. Logo (CNW Group/Kings Entertainment Group Inc.)

“The near unanimous approval of our shareholders at the meeting demonstrates our shareholders’ continued confidence and support for management and our business strategy. The approvals received today mark an important step towards the completion of our previously announced business combination. With this approval in place, we intend to proceed with a financing to ensure that Interactive Entertainment Group, the entity resulting from the Business Combination, is well funded and hope to close the Business Combination shortly thereafter. funding,” said Steve BudinCEO of Kings Entertainment.

Meeting results

In addition to approving the business combination, shareholders also approved the following resolutions, as further described in the management information circular filed on SEDAR on September 26, 2022:

  • renew the appointment of Baker Tilly WM LLP as auditors of the Company for the coming year and authorize the directors of the Company to fix their remuneration;

  • fixing the number of directors of the Company at six (6);

  • elect Steven Budin, Kelvin Lee, Robin Godfrey, Laryssa Hetmanczuk, Joseph Krutel and Anthony Zelin as directors of the Company until the completion of the Business Combination;

  • elect Jared Baby, Robin Godfrey, David Danziger, Kevin Kirby, Cory Levi and Hélène F. Fortin as directors of the Company following the Business Combination; and

  • ratify and approve the Company’s rolling stock option plan and the pre-grant of 3,265,650 options to purchase common shares of the Company granted thereunder.

List update

The Company continues to work on finalizing the registration statement to be filed in connection with the Business Combination under the policies of the Canadian Securities Exchange (the “CSE“) to qualify the registration in the CSE of the ordinary shares of the entity which will result from the Business Combination (the “Resulting emitter“). There is no guarantee that the CSE will give final approval to list the Common Shares of the Resulting Issuer on the CSE. The final approval of the CSE remains subject to the Company fulfilling all requirements of the CSE. .

About King’s Entertainment

Established in 2005, Kings Entertainment is an international provider of online services for lottery, casino and sports betting games and the parent company of global online gaming innovators LottoKings and WinTrillions. These brands capitalize on their ability to acquire high-potential players through renowned lottery offers and then engage players in a range of casino and sportsbook offerings. LottoKings and WinTrillions have attracted and retained millions of player registrations since their inception.

Disclaimer and Caution Regarding Forward-Looking Information.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. Use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “plan”, “estimate” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information regarding, among other things, the completion of the Business Combination (including the timing thereof), the expected composition of the Resulting Issuer’s board of directors, the timing, structure and size of any future financing and the listing on the CSE of the resulting issuer’s common stock. Various assumptions or factors are generally applied in drawing conclusions or making the forecasts or projections set forth in forward-looking information. These assumptions and factors are based on information currently available to the Company. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Business Combination will occur, or that if the Business Combination does occur, that the Resulting Issuer’s board of directors will be composed as described above, or that the Resulting Issuer’s ordinary shares will be approved for listing on the CSE.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including expected costs and the ability to achieve its objectives. Trading in the Company’s securities should be considered highly speculative.

Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, the failure to obtain regulatory approval, the continued availability of capital and financing, and general economic conditions. , market or business, changes in laws and regulations, failure of counterparties to perform their contractual obligations, litigation, loss of directors, employees, advisers or key consultants and fees billed by service providers. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be construed as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Business Combination will occur or that, if the Business Combination occurs, that the board of directors of the Resulting Issuer will be composed as described above, or that the ordinary shares of the Resulting Issuer will be approved for listing on the CSE. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances, except as required by law. Readers should not place undue reliance on the Company’s forward-looking statements. Neither CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.

The forward-looking information contained in this release is made as of the date hereof, and neither the Company nor SVH assumes any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. , unless necessary. by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation or recommendation to subscribe or purchase securities and neither this announcement nor anything contained therein constitutes the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, nor a solicitation of an offer to buy, securities of United Statesor in any other jurisdiction in which such an offer would be unlawful.

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Law“), or under the securities laws of any state or other jurisdiction of United States and may not be offered or sold, directly or indirectly, in United Statesunless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

Investors are cautioned that, unless otherwise specified in the listing statement to be prepared in connection with the business combination, any information published or received regarding the business combination may not be accurate or complete and should not be relied upon.

SOURCEKings Entertainment Group Inc.

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