Champion Gaming Group Inc. announced a non-brokered private placement of up to 10,000,000 units a price of CAD 0.075 per unit for gross proceeds of CAD 750,000 on October 25, 2022. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.15 per common share for a period of two years from the closing of the offering.

The company may pay certain eligible persons a cash commission equal to 8% of the gross proceeds of the offering and broker warrants equal to 8% of the number of units issued pursuant to the offering. Each broker warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.15 per common share for a period of two years from the closing of the offering. All securities issued pursuant to the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

The closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.