OverActive Media Announces Entry into Overwatch Champions Series

Toronto Defiant Returns to Overwatch under an Exciting New League, Structure and Format

TORONTO, Feb. 7, 2024 /CNW/ - OverActive Media Corp. (TSXV: OAM) ("OverActive" or the "Company"), a premier global esports and entertainment company for today's generation of fans announced its entry today into the Overwatch Champions Series (OWCS). The team will operate as the Toronto Defiant, OverActive's celebrated team that launched in 2019, for the 2024 season.

The OWCS represents a new chapter in competitive Overwatch, offering an evolved structure that promises more intense competition and gripping viewer experiences. OverActive Media is eager to embrace this new format, which aligns perfectly with our plan to engage global audiences in the world's top esports games.

OverActive Media has a rich history with the Overwatch League, having been an integral part of its journey since 2019. The Company's commitment to the Overwatch community has cultivated a vast network of dedicated fans whose support has been a cornerstone of the Overwatch ecosystem. In 2022 Overwatch 2 was launched with 'New Queen Street', a futuristic map modeled after one of Toronto's iconic streets, and Sojourn, the first Canadian hero in the game. Toronto Defiant co-hosted the Overwatch League Grand Finals in 2023 at the Mattamy Athletic Centre in Toronto with over 10,000 fans attending over the course of the weekend.

"We are excited to enter the Overwatch Champions Series and are fully committed to showcasing our team's talent to the global community. The OWCS is a testament to the evolving nature of esports, and we are ready to make our mark in this new chapter," said Adam Adamou, Co-Founder and CEO, OverActive Media. "Our history with the Overwatch League, combined with our deep understanding of our fan community, positions us uniquely to embrace this opportunity. We are going in with the vision to win the world championship and solidify our legacy in the esports world."

The Toronto Defiant's roster for the OWCS, which will be announced shortly promises a formidable lineup. All team players and operations staff will be based out of our world-class esports facility located in downtown Toronto.

For further information, and to stay updated on the team's journey through the OWCS, fans and supporters are encouraged to follow OverActive Media's official channels and the Toronto Defiant's social media platforms.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: (a) OverActive's anticipated VALORANT team; and (b) expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking statements are not based on historical facts but instead OverActive management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the OverActive. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and risk factors set out in OverActive's annual information form for the year ended December 31, 2021. These forward-looking statements may be affected by risks and uncertainties in the business of OverActive and general market conditions, including COVID-19.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although OverActive has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. OverActive does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

ABOUT OVERACTIVE MEDIA

OverActive Media (TSXV: OAM) (OTCQB: OAMCF) is headquartered in Toronto, Ontario, with operations in Madrid, Spain and Berlin, Germany. OverActive's mandate is to build an integrated global company delivering sports, media and entertainment products for today's generation of fans with a focus on esports, videogames, content creation and distribution, culture, and live and online events. OverActive owns team franchises in professional esports leagues including (i) the Call of Duty League, operating as the Toronto Ultra, and (ii) the League of Legends European Championship ("LEC"), operating as MAD Lions KOI, (iii) the Overwatch Champions Series (OWCS) operating as the Toronto Defiant. OverActive also leads OAM Live, an events arm that produces both live and online events.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release

SOURCE OverActive Media

Rikesh Shah, Chief Financial Officer, OverActive Media, [phone], [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., [phone], [email protected]