Gamelancer Media Announces Closing of $10 Million Brokered Private Placement of Units Led by Chretien-Desmarais Family Office

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, ON / ACCESSWIRE / June 15, 2023 / Gamelancer Media Corp. (CSE:GMNG)(FRA:P93) ("Gamelancer" or the "Company") a leading digital media, entertainment, and production company, is pleased to announce, further to its press release dated May 8, 2023, the closing of its brokered offerings (the LIFE Offering and Private Placement Offering, as defined below, collectively referred to as the "Offerings") through the issuance of 100,038,500 units (the "Units") of the Company at a price of $0.10 per Unit (the "Issue Price") for total gross proceeds of $10,003,850.

Foto: Accesswire

The Offerings were comprised of (i) gross proceeds of $2,853,850 pursuant to the listed issuer financing exemption ("LIFE Exemption") available under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Offering"), and (ii) gross proceeds of $7,150,000 pursuant to available private placement exemptions (the "Private Placement Offering"). President's list subscribers accounted for approximately 84% of the total gross proceeds from the Offerings. $1,970,000 came from Officers and Directors.

The Offerings were conducted by Echelon Capital Markets Inc. ("Echelon") as lead agent and sole bookrunner, on behalf of a syndicate of agents (collectively, the "Agents") on a commercially reasonable best-efforts basis pursuant to an agency agreement dated June 15, 2023.

"Concluding this financing is a crucial step in our process to up-list to the TSX. The result of yesterday's AGM saw management and shareholders vote against the consolidation, and continue in our journey to a senior exchange with an unaltered cap table, as was my goal. Our growing ecosystem of 54 channels now reaches over 40 million people, with active campaigns in the US, Australia, Canada and the UK on an ongoing basis. We are poised for aggressive growth as digital advertising spend continues to increase in tandem with the ebbing of TV ad spend becoming increasingly apparent across the media landscape. " - Jon Dwyer, Chairman and CEO of Gamelancer.

Each Unit consists of one common share of the Company (each, a "Share") and one common share purchase warrant of the Company (each, a "Warrant"). Each Warrant entitles the holder to purchase one Share of the Company (each, a "Warrant Share") at a price of $0.15 per Warrant Share at any time on or before the date which is 36 months after the closing date of the Offerings (the "Closing Date"). The Units issued pursuant to the LIFE Offering are not subject to any hold periods pursuant to applicable Canadian securities laws. The Units issued pursuant to the Private Placement Offering are subject to a four-month hold period under applicable Canadian securities laws.