Maverick Gaming LLC entered into an agreement to acquire 5.7% stake in Evergreen Gaming Corporation (TSXV:TNA) from Michel's Development, LLC for $4.6 million on September 8, 2022. Under the terms of the agreement, Maverick Gaming will acquire 7 million shares of Evergreen from Michel's Development for $0.55 per share subject to adjustment (Initial Purchase Agreement). As of November 30, 2022, Maverick Gaming will acquire 7 million shares of Evergreen from Michel's Development for $0.605 per share subject to any adjustments. As of December 6, 2022, Maverick Gaming will acquire 7 million shares of Evergreen from Michel's Development for $0.63 per share subject to any adjustments. As of December 8, 2022, Maverick Gaming will acquire 7 million shares of Evergreen from Michel's Development for $0.65 per share subject to any adjustments. In a related transaction, Maverick Gaming has entered into an arrangement agreement to acquire all the remaining shares of Evergreen for $0.65 per share (“Arrangement Agreement). Post completion of both transactions, which is anticipated to occur on the same day, Maverick Gaming will hold 100% stake in Evergreen. If the sale contemplated by the Initial Purchase Agreement is completed and the Arrangement Agreement should subsequently fail to close for any reason, the sale under the Initial Purchase Agreement will be rescinded. The transaction was unanimously approved by the Evergreen Board of Directors. The transaction is subject to approval by the Evergreen shareholders, court approval, Closing Cash being not less than $28 million, receipt of required Washington State gaming approvals and other closing conditions. Certain directors and officers of Evergreen that are shareholders of Evergreen along with other shareholders, all of them together holding approximately 78% shares of Evergreen have entered into support agreements with Maverick to vote in favor of the transaction. As of November 30, 2022, the Closing Cash condition is amended to not less than $25 million from $28 million. The shareholders meeting of Evergreen is scheduled on November 24, 2022. The hearing in respect of the Final Order is scheduled on December 14, 2022. The transaction has been approved by the shareholders of Evergreen Gaming on December 8, 2022. The transaction has been approved by the Supreme Court of British Columbia on December 14, 2022. The transaction is expected to close by the end of 2022.

Maverick Gaming LLC completed the acquisition of 5.7% stake in Evergreen Gaming Corporation (TSXV:TNA) from Michel's Development, LLC on December 21, 2022.