TGS Esports Inc. announced a non-brokered private placement of up to 12,000,000 units of the Company at a price of CAD 0.05 per Unit for aggregate gross proceeds of up to CAD 600,000 on November 2, 2023. Each Unit will be comprised of one common share and one non-transferrable common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one additional Share at a price of CAD 0.10 per Share for a period of two years from the date of issuance.

All securities issued in connection with the Private Placement will be subject to a statutory hold period expiring four months and one day after closing of the Private Placement. Completion of the Private Placement is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals and approval by the Exchange.