Planet Ventures Inc. (TSXV:PXI) announced that it is reviewing and planning a spin-out transaction (the "Spin-Out Transaction") whereby the shares of its wholly owned subsidiary 1261489 B.C. Ltd., to be renamed 1st Eleven Esports Limited ("1st Eleven"), will be distributed pro-rata to the shareholders of Planet, by way of a dividend-in-kind. The Spin-Out Transaction is expected to complete during the second quarter of 2021 and will be subject To Approve the listing of the 1st Eleven common shares on the Canadian Securities Exchange. The Spin-Out Transaction will create 1st Eleven as an independent public company. 1st Eleven will initially be focused on Esports and eGaming.