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Gaming Innovation Group

Gaming Innovation Group

Gaming Innovation Group - Issue of new shares

18:46 / 26 May 2023 Gaming Innovation Group Press release

Gaming Innovation Group Inc. (GiG) has today issued 1,777,873 new shares of its
common stock for the earn-out consideration in connection with the acquisition
of Sportnco Gaming SAS ("Sportnco"), ref. GiG's 2022 Annual Report and Exemption
Document dated 13 July 2022. The earn-out consideration for Sportnco's
performance in 2022 were EUR 8,495,280 whereby 50% has been paid in cash and 50%
in shares. The shares have been issued to the former shareholders of Sportnco at
a share price of NOK 27.60 for a total consideration of EUR 4,247,640.

In addition, GiG has today issued 39,650 new shares of its common stock in
connection with exercise of options, whereof 25,000 shares at a share price of
NOK 15.00 per share and 14,650 at a share price of NOK 22.00 per share. Included
are the 25,650 options exercised in April, ref announcement on 11 April 2023.

The new shares are issued by the Board of Directors under the Company's
150,000,000 authorized shares, and the Company confirms that the new shares have
been duly authorized by all necessary corporate actions and that the new shares
have been fully paid and validly issued. The Company's share capital has
increased from USD 127,132,038 to USD 128,949,561, and the number of outstanding
shares has increased from 127,132,038 to 128,949,561 (par value USD 1.00). In
addition, a total of 2,732,950 options are outstanding as of today.

For further information, please contact:
Tore Formo, Group CFO,, +47 91668678

About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing
solutions, products and services to iGaming Operators. Founded in 2012, Gaming
Innovation Group's vision is 'To be the industry leading platform, sportsbook
and media provider delivering world class solutions to our iGaming partners and
their customers.  GiG's mission is to drive sustainable growth and profitability
of our partners through product innovation, scalable technology and quality of
service. Gaming Innovation Group operates out of Malta and is dual-listed on the
Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under
the ticker symbol GIGSEK.
Oslo Børs

This information was distributed by Oslo Børs