Bragg Gaming Secures U.S.$8.7 Million Funding for Company’s Further Execution on Its Growth Initiatives - Seite 2

Shares issued upon conversion are subject to a 121-day lock-up period following deal close.

The Funding agreement contains restrictions on how much may be converted in any particular month, which is limited to 1/20 of outstanding balance or US$1,000,000 if exchange volume is above specified minimum, which conversions may be accelerated in certain circumstances. Bragg also has the option at any time to buy back the entire remaining balance of the Convertible Security, subject to a partial conversion right in favour of Lind to convert up to 1/3 of the outstanding amount into Shares in such circumstances. In connection with the funding, Lind will be issued a warrant to purchase up to 979,048 common shares at a price of C$9.28 per share for a period of 60 months.

The Funding is secured by assets of the Company and certain of its subsidiaries. The Funding Agreement and the issuance of securities thereunder has been conditionally approved by the Toronto Stock Exchange (the "TSX"). Closing is subject to final TSX approval and to the satisfaction of other customary closing conditions.

The Benchmark Company, LLC is acting as exclusive financial advisor to Bragg in connection with the funding agreement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America.

About Bragg Gaming Group

Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) is a content-driven iGaming technology provider and owner of leading B2B companies in the iGaming industry. Since its inception in 2018, Bragg has consistently expanded its operations across Europe, North America and Latin America and is continuing to grow as an international industry leader within the global online gaming market.

Through its wholly owned subsidiary ORYX Gaming, Bragg delivers proprietary, exclusive and aggregated casino content via its in-house remote games server (RGS) and ORYX Hub distribution platform. ORYX offers a full turnkey iGaming solution, including its Player Account Management (PAM) platform, as well as managed operational and marketing services.

Nevada-based Wild Streak Gaming is Bragg's wholly owned premium US gaming content studio. Wild Streak has a popular portfolio of casino games that are offered across land-based, online and social casino operators in global markets including the U.S. and U.K.