GameOn Entertainment Technologies Inc. partnered with the world's biggest IPs to launch, operate, and monetize web3 prediction and fantasy games, announces that it has obtained a non-convertible loan from Proje Ventures Inc. ("Proje") whereby the Company will borrow an aggregate of USD 560,000 (the "Loan"). The Company intends to use the proceeds from the Loan for general working capital purposes. GameOn reported $207,151 in revenue in first quarter of 2022, up from $2,791 in first quarter of 2021.

Management believes that the Company is on track to reach $1m in revenue in 2022, not including income from revenue share arrangements, and is on track for profitability in 2023. The Loan shall: (i) bear interest at the simple non-compounding rate of 14% per annum payable monthly in arrears based on a 365 day year basis: (ii) mature on the 18 month anniversary of the closing date of the Loan; and (iii) be secured against the monthly recurring revenue of the Company derived from its assets and contracts.