FansUnite Completes CAD$2.0 Million Private Placement

Core Viewpoint - FansUnite Entertainment Inc. has successfully closed a non-brokered private placement, raising CAD$2,000,000 through the issuance of 359,557,912 common shares at a price of CAD$0.005562 per share, with proceeds intended for general corporate and working capital purposes [1]. Group 1: Private Placement Details - The private placement involved the issuance of 359,557,912 common shares at CAD$0.005562 per share, resulting in total gross proceeds of CAD$2,000,000 [1]. - Certain insiders, including Tekkorp Consolidated and the CEO, acquired a total of 266,971,749 common shares during the private placement [2]. - The company did not file a material change report prior to the closing date due to the timing of the related party transactions and the desire to expedite the closing for business reasons [3]. Group 2: Insider Participation - Tekkorp Consolidated acquired 265,173,959 common shares, while the CEO acquired 1,797,790 common shares under the private placement [2]. - Prior to the private placement, Tekkorp Group owned 91,940,140 common shares, representing approximately 25.6% of the total shares. Post-placement, Tekkorp Group's ownership increased to 357,114,099 common shares, or approximately 49.7% of the total [6]. Group 3: Regulatory and Compliance Information - The common shares issued are subject to a statutory hold period of four months plus one day from the completion date, in accordance with securities legislation [4]. - The shares have not been registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without registration or an applicable exemption [4]. - An early warning report related to the private placement will be available on FansUnite's profile on SEDAR+ [8].