X1 Esports & Entertainment Completes IPO, Will Commence Trading on the Canadian Securities Exchange Under The Symbol "XONE"

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

X1 Esports & Entertainment (CSE: XONE) (" X1 " or the " Company "), a games & media portfolio company is pleased to announce that its shares will begin trading on June 30, 2022 on the Canadian Securities Exchange (the " Exchange "). X1 will trade under the stock ticker symbol "XONE".

"We could not be more proud of our organization in reaching this milestone of listing on the Canadian Securities Exchange," said X1 Chief Executive Officer Mark Elfenbein . "In addition to our existing assets, there is a great opportunity to acquire companies within the games and creator economy markets that we believe can benefit tremendously from being a part of the X1 ecosystem."

The Company has completed its initial public offering (the " Offering ") for aggregate gross proceeds of $3,111,669, consisting of the sale of 6,914,820 units (each a " Unit ") at a price of $0.45 per Unit. The Offering was completed pursuant to a final prospectus dated May 19, 2022 (the " Prospectus "). Each Unit consisted of one (1) common share in the capital of the Company (a " Common Share ") and one (1) common share purchase warrant (a " Warrant "). Each Warrant will be exercisable for 2 years to purchase an additional Common Share at a price of $0.70.

A cash commission of $140,854 was paid to the Company's agent, Research Capital Corporation (the " Agent ") as well as a corporate finance fee of $30,000, which was paid through the issuance of 66,667 Units, plus applicable taxes paid in cash. In addition, the Agent and its selling group members received 313,007 non-transferable agent's options to acquire up to 313,007 Common Shares at a price of $0.70 per Common Share until June 29, 2024.

Proceeds from the Offering are expected to further the Company's objectives as disclosed in the Prospectus, which is available under the Company's SEDAR profile at www.sedar.com.

About X1
The Company is an esports 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 on the Company, visit www.X1Esports.com or email info@X1Esports.com.

Contact
Mark Elfenbein, CEO
Mark@X1Esports.com

The CSE does not accept responsibility for the adequacy or accuracy of this news release.

Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "intends" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.


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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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