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Braingrid Limited Announces Proposed Change of Business to an Investment Company and Proposed Name Change

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TORONTO – Braingrid Limited (CSE: BGRD) (“Braingrid” or the “Company”) is pleased to announce that it will be pursuing a change of business to an investment company (the “Proposed COB”) under the rules of the Canadian Securities Exchange (the “CSE”).

After an evaluation of the Company’s existing resources and a review of strategic options available to the Company, the Company determined to refocus its business operations from a “technology issuer” to an “investment issuer”. The board of directors of the Company (the “Board”) believes that its network of business contacts, the depth of experience of its management team and its overall entrepreneurial approach will enable it to identify and capitalize upon investment opportunities as an investment issuer.

It is anticipated that the Company’s name will be changed to “Tony G Co-Investment Holdings Ltd.” in conjunction with the completion of the Proposed COB. Although Antanas Guoga (commonly known as “Tony G”) has consented to the use of the name “Tony G Co-Investment Holdings Ltd.” by the Company, Tony G is not currently part of the Board or management of the Company and will not be appointed to the Board or management following the completion of the Proposed COB. In contrast, the new name reflects the intention of the Company to direct its investments towards companies in which Tony G has a significant equity interest and/or in which Tony G played a material role in developing the business.

In accordance with the policies of the CSE, trading in the shares of Braingrid have been halted pending review and approval by the CSE of the Proposed COB. The Company plans to shut down or dispose of its current assets in connection with the Proposed COB.

The completion of the Proposed COB is subject to the receipt of all necessary approvals, including without limitation shareholder and CSE approval of the Proposed COB.

New Objective

In connection with the Proposed COB, the Company intends to adopt an investment policy (the “Investment Policy”) to govern its investment activities and investment strategy. A summary of the material terms of the Investment Policy will be disclosed in due course and, upon the completion of the Proposed COB, a copy of the Investment Policy will be posted on the Company’s profile at www.sedar.com.

As an investment issuer, the Company will look at multiple investment opportunities, with a particular focus on the blockchain technology, cryptocurrency, payment processing services, syndicated credit opportunities, online commerce and online gambling industries, as well as ancillary industries thereto. The Company will maintain a flexible position with respect to the form of investment taken and may employ a wide range of investment instruments. The Company may take an active role in management of its investee companies where its experience and contacts would be beneficial.

Cryptonews Investment

In connection with the Proposed COB, the Company has entered into a letter of intent on November 30, 2020 with all of the shareholders of News 3.0 Limited (“Cryptonews”), pursuant to which the Company shall purchase 51,000 shares of Cryptonews (representing a 51% interest) from existing shareholders for an aggregate purchase price of $3,600,000, payable by way of the issuance of a new class of preferred shares (the “Preferred Shares”) of the Company to be designated as Series “1” Preferred Shares (the “Cryptonews Investment”).

Cryptonews is a crypto-focused online media outlet that delivers original international news coverage on digital assets, blockchain, cryptocurrencies, and related content, including, but not limited to, market information, research, educational guides, product reviews, expert opinions, videos, and events. The key addressable audience includes cryptocurrency investors, enthusiasts, traders, industry professionals, and the general public interested in learning more about blockchain, investing, trading, and digital asset technologies. Cryptonews delivers content in English, French, Russian, German, Italian, Dutch, Persian (Farsi), Arabic, Chinese, and Turkish languages with the aim to expand its coverage to more local markets. Cryptonews’ current main revenue streams include the sale of advertisements, affiliate deals, and sponsored content such as press releases, sponsored articles, guides, reviews, and community events.

The completion of the Cryptonews Investment is subject to certain conditions, including but not limited to shareholder and CSE approval of the Proposed COB.

Tony G is contemplated to remain a substantial shareholder of Cryptonews following the completion of the Cryptonews Investment. Tony G is a founding shareholder of Cryptonews and has played an active role in the development of its business.

Sportsclothes Investment

The Company has also entered into a letter of intent with a shareholder of Sportsclothes UAB (“Sportsclothes”) on November 29, 2020, pursuant to which the Company shall purchase shares of Sportsclothes (the “Sportsclothes Shares”) representing 20% of the issued and outstanding Sportsclothes Shares, for an aggregate purchase price of EUR 1,400,000 (One Million, Four Hundred Thousand Euros) (the “Sportsclothes Investment”). The purchase price will be payable by way of the issuance of Preferred Shares.

Sportsclothes is a Lithuanian online retailer of high-end basketball, leisure, football and tennis shoes, clothing and accessories. Sportsclothes has one wholly-owned subsidiary, Krepsininkams, UAB, a private company incorporated under the laws of Lithuania. Sportsclothes’ sales are placed through Amazon and eBay to customers in the United States and the European Union, and through its websites use https://shop.lympo.com/ and https://www.sil.lt/. Sportsclothes also maintains one physical store location in Kaunas, Lithuania. Sportsclothes’ integrated and unique e-commerce platform allows Sportsclothes to manage real time large amounts of products between different sales platforms, including Amazon, Ebay, its own retail shop and other websites.

Key distributors of Sportsclothes include Nike/Jordan, Adidas, Reebok, Puma and New Balance. As Sportsclothes has a fully automated warehouse and excellent relationships with top international couriers, Sportsclothes has the ability to deliver parcels to customers in Europe and the United States within two to three days of purchase orders. Sportsclothes has integrated and intends to expand integration via Paypal solution cryptocurrency technology into its websites and other sales channels allowing its customers to pay for products using various forms of cryptocurrencies.

The completion of the Sportsclothes Investment is subject to certain conditions, including but not limited to shareholder and CSE approval of the Proposed COB.

Tony G is contemplated to remain a substantial shareholder of Sportsclothes following the completion of the Sportsclothes Investment. Tony G is a founding shareholder of Sportsclothes and has played an active role in the development of its business.

Board and Management

In connection with the Proposed COB, it is anticipated that Andrew Parks will resign as Interim Chief Executive Officer of the Company and Gediminas Klepackas will be appointed as the Chief Executive Officer and a director. Douglas Harris will remain as the Company’s Chief Financial Officer and Andrew Parks, Ronald McKenna and Gregory Pepin will continue to act as directors.

Gediminas Klepackas is currently the Chief Executive Officer of Cryptonews. Mr. Klepackas is a professional manager with over 10 years of experience in international affiliate marketing. Out of those, he spent 8 years at Pokernews, helping with the expansion of franchise partners and managing the entire Lithuanian operations company. Aside from that, he has two years of experience in active sales within the fintech sector. He became immersed in the crypto market in early 2018 when he became Chief Operating Officer at Blockchain Centre Vilnius. For the past 2.5 years, he has been the Chief Executive Officer of Cryptonews and has grown it into a top 10 cryptocurrency news website globally.

Canada

Soft2Bet granted Ontario Certification of Registration and readies for imminent launch

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Ontario Certificate is hugely promising as Soft2Bet continues its regulatory expansion

Soft2Bet, a leading provider of online betting and gaming solutions to regulated operators worldwide, is delighted to announce that it has been granted a Certificate of Registration in Ontario, Canada’s largest province, moving it one step closer to being able to launch its Tooniebet.com iGaming brand.

Obtaining its Certificate of Registration (Nbr: OPIG1280338) from the Alcohol and Gaming Commission of Ontario (AGCO) will enable Soft2Bet to continue its expansion into the world’s largest regulated jurisdictions.

Ontario has been a major success story for regulated online sports betting and casino in North America in the past two years. The province launched its regulations in April 2022 and latest figures for the fourth quarter of 2023 showed that operators recorded a 21% rise in wagers to CA$17.2bn and a 22% increase in gross gaming revenues to CA$658m, the highest ever revenue total in Ontario’s wagering history. Online casino was the main driver of this growth and generated CA$13.7bn of the total stakes and CA$471m in GGR.

Elisabeth Isaksson, Head of Regulatory Compliance at Soft2Bet, commented: “Being registered with the AGCO in Ontario is testament to the work our compliance and regulatory teams are doing daily to enable our continued expansion in the world’s largest regulated markets. We’re immensely excited about taking our first steps in North America and look forward to licensing and launching in more jurisdictions in the region.”

Chief Business Development Officer Martin Collins added: “This Ontario certification is another significant and important step in our corporate expansion plans. It fits perfectly with our stated aim of growing our regulatory footprint and we very much look forward to continuing forward on this path.”

Soft2Bet is also actively working to obtain a licence in New Jersey and continue its expansion in the Americas. This activity comes after the group obtained B2C licences in Italy, Greece and Romania in 2023.

 

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Canada

Hacksaw Gaming and DraftKings Score Again in Ontario

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2023 saw Hacksaw Gaming go live in West Virginia and New Jersey and now we have made our long-awaited entry in Ontario, Canada. Securing this trio has hit new heights and hopes for further successes throughout the rest of this year.

DraftKings Casino entered the iGaming market in Ontario in May of 2022 and partnered with Hacksaw Gaming in the back end of the same year. As Ontario’s regulated iGaming market only went live in April of 2022, the pair have given an outstanding performance with effective launch strategies and expansive footing in North America.

Apart from gaining an unprecedented reach across regulated markets, the mobile-friendly format of Hacksaw Gaming games can be visited on phone or tablet via the DraftKings Casino app. Boasting an impressive online casino’s selection of over 300 games, DraftKings now welcomes Hacksaw Gaming favourites such as Chaos Crew, Mines, Omnom and Boxes.

“The benchmarks we have set as a partnership are remarkable and we are ready to take on more challenges continuing into 2024,” the Chief Executive Officer for Hacksaw Gaming, Marcus Cordes, said.

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Canada

Exploring Canada’s video Game Market: Survey Insights

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Technology has become a great source of entertainment to many. Video games particularly have garnered interest from all demographics. In Canada, the gaming industry has experienced significant growth, fuelled by increased accessibility to gaming platforms and the growth of online gaming communities.

Statistics indicate that a large percentage of Canadians are engaged in gaming activities, whether it be playing console or PC games, mobile games, or online multiplayer games. The popularity of video games extends beyond leisure pastimes, with many Canadians participating in gaming competitions, attending gaming conventions, and consuming gaming-related content on platforms like Twitch and YouTube.

The number of video game users in Canada reflects how broad the sector is, from mobile games to digital video games, download games and live streaming. In 2024, the gaming sector will see millions of users in each of these categories. Statista projects 13.38 million users for digital video games and 7.35 million users for online games respectively. It estimates that revenue in the Canadian video game market is expected to reach US$3,925.00m in 2024, so it is no surprise to observe the increasing popularity of the sector.

Well-known online casino provider BetVictor has compiled some key points from major surveys detailing the video game market to give further insight into its makeup and potential. The gaming culture in Canada is growing, which means the type of games and genres will grow along with the sector. Statista recently conducted a survey of 1 576 respondents aged 18 – 64 who are avid video game players, with telling results. ​​In December 2023, a survey about preferred video game genres in Canada revealed the top four genres as being Action, Action – adventure, Adventure and casual games accounting for 31% of respondents’ preferences.

David Winter, Marketing Manager at BetVictor notes that “We’ve seen a steady increase in the popularity of action-themed and adventure-themed slots and many providers are exploring how to expand further into this market.”

The popularity of Action games such as platform and fighting games can be attributed to various factors, such as: social interaction, accessibility and inclusivity, social appeal, and cultural influence. With such a diverse audience, all these factors are crucial to understand the appeal of Action games.

In the digital age, gaming has transcended mere entertainment to become a cornerstone of culture, and nowhere is this more evident than in Canada. From coast to coast, a diverse community of gamers is thriving, reflecting the country’s inclusive spirit and passion for technology. Whether it’s the casual gamer enjoying a quick session on their smartphone or the dedicated enthusiast meticulously building a custom gaming PC, Canada offers a welcome haven for all kinds of gamers.

Diving deeper into the Statista results, Strategy games accounted for 29%. This shows us that players have a strong interest in tactical and decision-making games. While role-playing (RPG) and sports games garnered 22% each, simulation and shooters trailed slightly behind at 21% and 20% respectively.

MMO (massively multiplayer online games), as well as MMORPGs (massively multiplayer online role-playing games) and MOBA (multi online battle arenas) came in at 13% and 8% respectively, representing a significant but niche following. With such a diverse array of preferences, the survey underscores the multifaceted nature of interests among Canadian gamers. It highlights the need for game developers to cater for a wide range of genres and gameplaying styles in the Canadian market.

From action shooter games to role-playing adventures, the industry has something for every gaming enthusiast in the Canadian market. Overall, the popularity of video games in Canada reflects a growing cultural phenomenon, where gaming has become a mainstream form of entertainment and a significant aspect of modern-day leisure activities.

Statistics anticipate a compound annual growth rate (CAGR) of 7.10% for 2022-2027, resulting in a projected market volume of US$24.52bn by 2027. Canada’s online gaming market is experiencing a surge in popularity, with a surging number of Canadian players engaging in immersive virtual reality experiences.

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