theScore Files Preliminary Base Shelf Prospectus

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 29, 2020 /CNW/ - Score Media and Gaming Inc. ("theScore" or the "Company") (TSX: SCR) is pleased to announce that it has filed a preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada, other than Quebec.

The base shelf prospectus, when made final, will allow theScore and certain of its securityholders to qualify the distribution by way of prospectus in Canada of up to $325,000,000 of Class A Subordinate Voting Shares of the Company, debt securities, warrants, subscription receipts, units, or any combination thereof, during the 25-month period that the base shelf prospectus is effective. The specific terms of any offering under the base shelf prospectus will be established in a prospectus supplement, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.

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 these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

A copy of the preliminary short form base shelf prospectus can be found on SEDAR at www.sedar.com.

About Score Media and Gaming Inc.

Score Media and Gaming Inc. empowers millions of sports fans through its digital media and sports betting products. Its media app 'theScore' is one of the most popular in North America, delivering fans highly personalized live scores, news, stats, and betting information from their favorite teams, leagues, and players. The Company's sports betting app 'theScore Bet' delivers an immersive and holistic mobile sports betting experience and is currently available to place wagers in New Jersey, Indiana, and Colorado. Publicly traded on the Toronto Stock Exchange (SCR), theScore also creates and distributes innovative digital content through its web, social and esports platforms.

Forward-Looking Statements

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "may", "would", "could", "will", "believes", "plans", "anticipates", "estimates", "expects" or "intends" and other similar statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Such statements reflect theScore's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including among other things, those which are discussed under the heading "Risk Factors" in the Company's current Annual Information Form dated October 28, 2020 as filed with applicable Canadian securities regulatory authorities and available on SEDAR under the Company's profile at www.sedar.com and elsewhere in documents that theScore files from time to time with such securities regulatory authorities, including its relevant Management's Discussion & Analysis of the financial condition and results of operations of the Company. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by applicable law or regulatory requirements.

SOURCE Score Media and Gaming Inc.

Dan Sabreen, Director, Communications, Score Media and Gaming Inc., Email: [email protected], Phone: [phone]; Alvin Lobo, Chief Financial Officer, Score Media and Gaming Inc., Email: [email protected], Tel: [phone] ext. 2206