TGS Esports Inc. ('TGS' or the 'Company') (TSXV: TGS) (FRA: 5RH) is pleased to announce that, further to its news releases dated October 7, 2020 and November 17, 2020, it has completed its previously announced arm's length acquisition (the 'Acquisition') of Volcanic Media Inc. ('Volcanic') pursuant to the terms of a share exchange agreement dated November 13, 2020 among the Company, Volcanic and the shareholders of Volcanic (the 'Agreement').

Volcanic is at the forefront of scholastic esports in Canada and it has created an inter-district high school esports league and scholarship program for players within the league-both firsts of their kind in Canada. Additionally, Volcanic is in partnership with various indigenous communities and organizations, such as the Binche Keyoh First Nations, to provide esports events experiences, career growth opportunities and reconciliation through gaming. Future programs include nation to nation esports leagues, skills development programming and much more. Since the Acquisition was announced, Volcanic entered into a new partnership with a post-secondary institution that includes a twelve-week esports business program set to launch in spring 2021. Volcanic has also recently partnered with a Canadian high school to run a pilot in-class esports program that will launch in Fall 2021. 'Our work with Volcanic has already seen success in the form of a high school league that features twelve schools across two esports, League of Legends and Rocket League,' said Spiro Khouri, CEO of TGS. 'Onboarding schools and developing scholastic esports leagues is core to increasing our user base and leveraging the tools we are developing with the Pepper platform to provide our customers with a complete and unparalleled esports experience.' 'Over the past few years, we have been able to build a solid foundation with Volcanic. With the support of TGS we now have the ability to scale quickly and implement programs without hesitation. We are already seeing new partnerships emerge and the growth has been amazing in such a short time,' said Shawn Caldera, former President of Volcanic. 'We are incredibly thankful for the communities, people and organizations that have help us get to where we are, and are incredibly excited to see what new innovations and growth can happen with the TGS family's support.' TGS is proud to offer high schools looking to operate esports leagues access to the Volcanic and Pepper platforms absolutely free of charge-with no fees paid by schools or students. Interested schools can reach out to Shawn Caldera: shawn@volcanic.gg.

About TGS Esports Inc.

TGS Esports Inc. is an esports organization focused on providing an unparalleled esports experience through its expertise in online and in-person event management, broadcast production, and Pepper Esports' tournament software. TGS is the owner of Canada's first dedicated esports arena, The Gaming Stadium, located in Richmond, British Columbia, which opened in June 2019. The Gaming Stadium hosts regular online tournaments as well as provides high quality broadcast production for any event.

Disclaimer for Forward-Looking

Information Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include the following: the unknown magnitude and duration of the effects of the COVID-19 pandemic and other risks that are customary to transactions of this nature. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

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