X1 Esports Closes Acquisition of Assets of Rocket League Community, ShiftRLE

X1 Esports Closes Acquisition of Assets of Rocket League Community, ShiftRLE

  • The transaction is anticipated to strengthen X1's position in video game media, adding Shift's 30,000+ social media followers at twitter.com/ShiftRLE
  • Rocket League globally averages over 80M players per month 1
  • The acquisition is X1's second closed post IPO acquisition after the announcement of the closing of the Tyrus LLC acquisition on August 5 th 2022.

X1 Esports and Entertainment Ltd. (CSE:XONE) ("X1" or the "Company"), a video games and media portfolio company which owns and operates a growing Esports franchise and a leading creator economy business is pleased to announce, further to its news release dated July 25, 2022, it has closed its previously announced acquisition of the assets comprising of ShiftRLE ("Shift"), an online news outlet focused on the popular video game, Rocket League.

In connection with the acquisition of the assets comprising of the business of Shift, the Company has entered into consulting agreements with four vendors, who as key personnel will be responsible for the continued operation of Shift, and distributed to such persons 333,333 common shares in the capital of X1 with a deemed issue price of CAD$0.45 per common share (the "Consideration Shares"). In addition to the Consideration Shares, the Company is paying a cash purchase price to the vendors of US$50,000 cash, of which US$25,000 was paid in connection with the closing of the acquisition and US$25,000 payable within 45 days after the closing date. The vendors will also be eligible to receive earn-out payments for 36 months from the closing date as payment of a 7% share of gross revenues Shift earns to a maximum of US$250,000 (the "Earnout"). The Earnout may be paid in cash or common shares at the election of the Company, at a deemed price equal to the fourteen day trading price prior to the payment date or such other price as may be required by the policies of the Exchange .

The Consideration Shares will be subject to subject to a CSE imposed hold period of four months from the date of issuance, and a contractual resale restriction that will result in 25% of the Consideration Shares being released six (6) months following the closing date, and 25% being released at six (6) month intervals thereafter. For further information related to the acquisition terms, please the Company's news release dated July 25, 2022.

" We are thrilled to have closed on the Shift acquisition," said Mark Elfenbein, CEO of X1. " Not only has the Shift community grown considerably over the past year, but we believe that Rocket League has tremendous global appeal with fans looking for the content that Shift can offer."

Information Related to ShiftRLE

Las Vegas-based ShiftRLE, led by co-founders Achilleas Fotiou and Jalen Jones, has demonstrated consistent user audience growth since launching in 2020. Shift currently reaches over 8 million impressions during the seasonal period of RLCS, while seeing growth of 14 million impressions during transfer periods where the roster news cycle is most active. With operations in America and Europe, the organization has established an international presence in the Esports industry.

" As Rocket League continues its climb to becoming a household name in the esports and gaming worlds, our team at Shift will remain committed to being a part of it in multiple facets. X1's investment should not only reflect their belief in us, but the potential that Rocket League has as a whole. We're extremely excited to continue building Shift and to fully realize our aspirations of becoming that multimedia company that will stick around for years to come".

Rocket League is one of the world's leading esports 2 . With 5-minute games that feature non-stop action, the car-soccer hybrid game has seen significant growth with players across demographics since its launch, now seeing global averages of 80M players per month, according to Active Player 3 .

Shift is an independent news source for Rocket League fans. It first rose to prominence by getting exclusive, behind-the-scenes information on Rocket League roster moves and tryouts before they were public knowledge. Shift plays a key role in ensuring the conversation around Rocket League esports continues beyond the pitch through coverage and insight regarding roster transactions and general esport news, ensuring fans stay engaged even during slower competitive periods.

About X1

X1 Esports and Entertainment is a video game and media portfolio company which owns and operates a growing esports franchise, RixGG. The business of the Company is the competitive playing of video games by teams for cash prizes, and operations ancillary to such competition, such as merchandising and the hosting of tournaments.

For more information, please contact:

Mark Elfenbein

CEO and Director

info@X1Esports.com
www.X1Esports.com

FORWARD LOOKING STATEMENTS:

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information in this news release includes the the ability of ShiftRLE to integrate into the X1 portfolio as anticipated or at all, the growth of ShiftRLE and the establishment of ShiftRLE as a multimedia company with longevity in the space, and the achievement of any revenue by ShiftRLE. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations, as well as a failure to achieve the growth anticipated, together with or apart from Shift,, changing market and industry conditions, the ability of each of X1 and ShiftRLE to implement their respective business strategies, including expansion plans,, the continued relevance of ShiftRLE's media capabilities, competitive conditions, adverse industry events, availability of capital and financing as needed, and the continued relevance of Rocket League. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.


1 "Rocket League: Rocket League Live Player Count and Statistics", Active Player, https://activeplayer.io/rocket-league/ (accessed: July 22, 2022).
2 "Top 15 most popular PC games of 2022", Active Player, https://activeplayer.io/top-15-most-popular-pc-games-of-2022/ (accessed July 22, 2022).
3 See note 1.


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X1 Entertainment Group Announces Update on Recent Commercial Progress

X1 Entertainment Group Announces Update on Recent Commercial Progress

  • X1 Talent managed star, Zanadood signs deal with Google's YouTube
  • X1 Talent managed star, Brizzy Voices signs deal with AMD
  • X1 Talent managed star, RuffSenpai signs deal with Snapchat
  • ShiftRLE grows social media presence 200% YOY
  • ShiftRLE launches new Rocket League fan destination at www.ShiftRLE.gg

X1 Entertainment Group Inc. (CSE: XONE; OTCQX: XOEEF; FSE: ZI0) ("X1" or the "Company"), a video games and media portfolio company, is pleased to provide a corporate update on recent commercial progress with its wholly-owned subsidiaries, Tyrus LLC, a leading social media influencer management firm, and with ShiftRLE, a leading news and statistics destination for fans of the popular video game, Rocket League.

"Our focus in 2022 has been on the integration and growth of our acquisitions. With Tyrus LLC, which was renamed to X1 Talent Corp., the core strategy has been to grow the talent roster and international brand clients that partner with X1 talent to promote their newest and hottest products," said Mark Elfenbein, CEO, X1 Entertainment Group Inc. "With ShiftRLE which has a fast-growing social media audience on Twitter, the core strategy has been to launch a new web destination experience at www.ShiftRLE.gg for Rocket League fans which recently debuted in November."

Notable brand campaigns engaged with X1 Talent over the previous 90 days include:

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X1 Entertainment Group Launches New Rocket League News Portal Creating Global Hub for Rocket League Fan Community

X1 Entertainment Group Launches New Rocket League News Portal Creating Global Hub for Rocket League Fan Community

  • X1 merges owned news properties ShiftRLE and Octane.gg to create ‘the primary sports media network of Rocket League'
  • www.ShiftRLE.gg will target millions of daily Rocket League players and feature extensive play-by-play and game-by-game statistics, player and team pages, events calendar, live video, fantasy sports, and news on roster reports and rumors

X1 Entertainment Group Inc. (CSE: XONE; OTCQX: XOEEF; FSE: ZI0) ("X1" or the "Company"), a video games and media portfolio company, has today announced the launch of www.ShiftRLE.gg an all-new sports news outlet aimed at the global Rocket League fan community.

Merging its two wholly-owned media properties, ShiftRLE and Octane.gg, ShiftRLE.gg is well positioned to be the leading source for Rocket League news offering roster reports and industry rumors, and hosting an extensive database of play-by-play and game-by-game statistics which allow fans to uniquely analyze the game on a deeper level. Player and team pages will enable fans to track their favorite pro's performances throughout the season and new features to be developed such as live videos, live scores and fantasy sports will also allow fans to immerse themselves in the league and engage with the wider game community.

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X1 Esports and Entertainment Ltd. Announces Official Name Change to X1 Entertainment Group Inc.

X1 Esports and Entertainment Ltd. Announces Official Name Change to X1 Entertainment Group Inc.

X1 Entertainment Group Inc. (CSE: XONE; OTCQX: XOEEF; FSE: ZI0) (" X1 " or the " Company "), a video games and media portfolio company, is pleased to announce that it has completed its name change from "X1 Esports and Entertainment Ltd. to "X1 Entertainment Group Inc."

"The change of name from X1 Esports and Entertainment to X1 Entertainment Group represents the next phase of consolidation and streamlining of our brand and portfolio," said Mark Elfenbein, CEO of the Company. "As we continue to build out our portfolio and expand into the fastest growing areas of gaming, esports, and the creator economy, having clear association and cohesion throughout the X1 brands will become increasingly important and valuable."

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X1 Esports-owned Tyrus LLC Announces Commercial Progress During 2022

X1 Esports-owned Tyrus LLC Announces Commercial Progress During 2022

  • Tyrus-managed YouTube star, Brizzy Voices signs deal with Warner Brothers
  • Tyrus talent, Kate Stark, engaged by Bank of Montreal (BMO)
  • Tyrus talent IAmBrandon signs a year-long brand ambassador contract with Amazon Luna
  • Tyrus-managed influencers contracted with a host of leading global brands including: Best Buy, Logitech and Square Enix.

X1 Esports and Entertainment Ltd. (CSE:XONE; OTCQX: XOEEF; FSE: ZI0) ("X1" or the "Company"), a video games and media portfolio company, is pleased to provide a corporate update on commercial progress with its wholly-owned subsidiary Tyrus LLC, a leading social media influencer management firm empowering gamers, content creators and influencers.

"The power and potential of influencer-led marketing campaigns has led to major global brands increasingly looking to gaming and esports influencers to help build profile for their newest and hottest products with Gen Z audiences," said Amanda Solomon, head of Tyrus LLC. "We have seen very solid month-on-month growth since the start of the year and are already filling a strong pipeline into 2023 and beyond. To see our talent working with a growing number of the world's largest and most notable brands shows the impact and unique influence these creators have with their GenZ audiences, and the strength of this as a key marketing channel going forward."

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X1 Esports Closes Acquisition of Assets of Rocket League Community, Octane.GG

X1 Esports Closes Acquisition of Assets of Rocket League Community, Octane.GG

Acquisition of Octane is intended to expand X1 ' s global Rocket League video games portfolio and reach to Gen Z audiences

  • The transaction is anticipated to strengthen X1's position in video game media, adding Octane's social media followers and statistical platform at https://Octane.GG
  • Rocket League globally averages over 80M players per month 1
  • The acquisition is X1's third closed post-IPO acquisition after the announcement of the closing of the Tyrus LLC acquisition on August 5 th 2022, and ShiftRLE on August 10 th 2022.
  • It is anticipated that Octane will merge into Shift to create a new destination for Rocket League fans.

X1 Esports and Entertainment (CSE:XONE; OTCQB: XOEEF; FSE: ZI0) ("X1" or the "Company"), a video games and media portfolio company which owns and operates Esports assets and a leading creator economy business is pleased to announce, further to its news release dated September 15 th 2022, it has closed its acquisition of the assets comprising of Octane.GG ("Octane"), an online statistical and news outlet focused on the popular video game, Rocket League.

In connection with the acquisition of the assets comprising the business of Octane, the Company has entered into consulting agreements with two individuals, who as key personnel will be responsible for the continued operation of Octane. As consideration for the acquisition of the assets compromising the business of Octane, the Company is paying a cash purchase price of US$35,000, US$17,500 of which was paid in connection with the closing of the acquisition and US$17,500 of which will be payable within 45 days after the closing date.

" We are enthusiastic to have closed on the Octane acquisition," said Mark Elfenbein, CEO of X1. "As Rocket League continues to grow in global popularity, owning multiple assets within this Esport allows the opportunity to launch an all-encompassing Rocket League destination site containing breaking news, statistics, video highlights, and fantasy sports."

Information Related to Octane

Octane is the leading Rocket League Esports statistics platform providing in-depth match statistics across the top events in the space. Since its inception in 2017, Octane has collected data for hundreds of thousands of games and thousands of players, teams, and events. As the primary source of statistics for Rocket League, Octane has amassed a valuable trove of data on the history and evolution of players and teams from their rookie days to playing on the world stage. Using the platform, fans are able to check-in live during game days to see how their favorite players and teams are performing, while coaches and commentators can use the data to draw better conclusions and create narratives around how players and teams are trending. Octane's robust set of filters and comprehensive data makes it an unmatched resource for the large community of Rocket League esports fans.

The Company anticipates utilization of Octane's Rocket League statistics database in launching future offerings, such as a possible Rocket League fantasy product, as discussed in X1's prior news release dated July 25th, 2022.

Changes to Directors and Officers

The Company also announces that Jan Hoffmann has resigned from the Company's board of directors (the " Board ") and as the Chief Executive Officer of the Company's wholly owned subsidiary, RixGG Europe Ltd., which holds and operates the Company's RixGG e-sports teams. The Company would like to thank Mr. Hoffmann for his contributions to the Company and wishes him well on his future endeavours. Latika Prasad, a current director of the Company, will be appointed Chief Executive Officer and a director of RixGG Europe Ltd. and will oversee operations with Mark Elfenbein, CEO of X1.

Samantha Shorter has been appointed to fill the vacancy on the Board. In connection with her appointment to the Board, Ms. Shorter has resigned as Chief Financial Officer of the Company, and Bobby Dhaliwal has been appointed as the Company's Chief Financial Officer.

Samantha Shorter

Ms. Shorter most recently served as the Chief Financial Officer of X1, and has over a decade of experience in providing reporting, assurance and accounting services to publicly traded companies, including technology companies. She left public practice in 2011, where she acted in the capacity of audit manager with Davidson & Company LLP, a major Canadian accounting firm, and has since taken on a variety of leadership roles. Her governance and accounting knowledge facilitates effective implementation and oversight for financial reporting, administration and internal controls development and budgeting. Ms. Shorter completed a Bachelor of Commerce with Honours at the University of British Columbia. She is a Chartered Professional Accountant (CPA, CA) and Certified Internal Auditor.

Bobby Dhaliwal

Mr. Dhaliwal works as a financial consultant with a number of TSX-V and CSE listed companies in the resources and technology sector, including in the roles of CFO and controller. These companies are Canada-based with various international operations. His professional experience includes assistance on initial public offerings, continuous disclosure and financial reporting, implementation of accounting software, various equity financings and implementation of internal control policies. Mr. Dhaliwal graduated from Langara College, Vancouver, and holds a bachelor of accountancy.

Information Related to Rocket League

Rocket League is one of the world's leading esports 2 . With 5-minute games that feature non-stop action, the car-soccer hybrid game has seen significant growth with players across demographics since its launch, now seeing global averages of 80M players per month, according to Active Player 3 .

About X1

X1 Esports and Entertainment Ltd. is a gaming and entertainment company that helps connect brands with Gen-Z and millennial audiences all over the world through a diverse portfolio of assets which includes an Esports team, a talent management agency, and other integrated media assets. The company's assets are in three main verticals: Media & Network, Creator Economy, and Gaming & Esports. X1 is continuing to build upon its existing portfolio of assets through a combination of organic growth and accretive M&A

For more information, please contact:

Mark Elfenbein

CEO and Director

info@X1Esports.com
www.X1Esports

FORWARD LOOKING STATEMENTS:

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information in this news release includes the ability of Octane to integrate with ShiftRLE or at all, and expected synergy between ShiftRLE and Octane, including by allowing for the provision of Rocket League fantasy sports options, the continued growth and popularity of Rocket League, the growth of ShiftRLE (as integrated with Octane) and the establishment of ShiftRLE as a multimedia company with longevity in the space, and the achievement of any revenue by ShiftRLE. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations, changing market and industry conditions, the ability of each of X1 and Octane to implement their respective business strategies, including plans to integrate Octane and ShiftRLE, the continued relevance of Octane's media capabilities, competitive conditions, adverse industry events, availability of capital and financing as needed. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.

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