FansUnite Entertainment Inc. announced a non-brokered private placement of 25,000,000 units at an issue price of CAD 0.08 per unit for gross proceeds of CAD 2,000,000 led by the new investor Tekkorp Capital LLC on March 6, 2023. Each Unit will consist of one common share and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to purchase one Common Share at a price of CAD 0.12 per Warrant Share for a period of 36 months after the closing date of the Offering.

The company may pay finder fees in the transaction. The company may receive funding in tranches, the first of which is expected to close on or about March 9, 2023, and subsequent tranches as may be agreed by the Company and the subscribers. Closing of the Offering is subject to receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange, and will occur within 45 days from the date hereof.