Xtract One Announces Terms of Public Offering and Concurrent Investment by Strategic Partner - Seite 2

The Company will apply to list the Common Shares, Warrant Shares, Agents’ Warrant Shares and Warrants issuable pursuant to the Offering on the TSX. Copies of the Prospectus, following filing thereof, can be obtained on the Company’s SEDAR+ profile at www.sedarplus.ca and from the Agents by contacting [e-mail]. The Prospectus contains important detailed information about the Company and the proposed Offering. Prospective investors should read the Prospectus and the other documents the Company has filed on SEDAR+ before making an investment decision.

Concurrent Private Placement

In addition to and concurrent with the Offering, the Company has agreed to issue and sell Units (the “PP Units”), on a private placement basis (the “Concurrent Private Placement”), to MSG Sports Ventures, LLC (“MSG Sports”), a wholly-owned subsidiary of Madison Square Garden Sports Corp. (NYSE: MSGS), in order to permit MSG Sports to maintain its pro rata interest in the outstanding securities of the Company. The final number of PP Units to be sold and amount of proceeds to be raised under the Concurrent Private Placement will be equal to approximately 19.18% of the Units sold under the Offering as well as additional Units and/or Shares (if any) pursuant to the Over-Allotment Option, if any. No finder’s fees or commissions will be paid in connection with the Concurrent Private Placement.

Closing of the Concurrent Private Placement is expected to occur concurrently with the closing of the Offering and is subject to certain conditions including, but not limited to, the concurrent completion of the Offering and the receipt of all necessary regulatory approvals, including the approval of the TSX. Closing of the Offering is not conditional on the closing of the Concurrent Private Placement.

Xtract One intends to use the proceeds of the Offering and the Concurrent Private Placement for working capital and general corporate purposes.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable state securities laws.