An Unknown buyer entered into a letter of intent to acquire Auto Simulation Limited dba Digital Motorsports/Frenzy sp. z.o.o. for CAD 41 million.

An Unknown buyer entered into a letter of intent to acquire Auto Simulation Limited dba Digital Motorsports/Frenzy sp. z.o.o. for CAD 41 million on March 28, 2023. The completion of the Transaction remains subject to a number of conditions including satisfactory due diligence, the receipt of structuring advice by the parties, approval of the board of directors of each of the parties, entry into a binding agreement, the receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange and the NASDAQ, and other conditions customary to transactions of this nature.

The Transaction is at arm's length and, as currently contemplated, no finder's fees will be paid thereon. There can be no assurance that the Transaction will be completed as proposed or at all.