Wondr Gaming Announces Closing of Joybox Media Acquisition

TORONTO, March 3, 2022 /CNW/ - Wondr Gaming Corp. (CSE: WDR) (CSE: WDR.WT) (the "Company" or "Wondr Gaming") is pleased to announce that, further to its press releases dated October 22 and February 17, 2022 (the "Press Releases"), it has completed the previously announced acquisition (the "Transaction") of all of the issued and outstanding common shares of Joybox Media Inc. ("Joybox"). As consideration for the Transaction, the Company issued on closing 3,333,332 common shares in the capital of the Company at a deemed price per Common share of $0.15 and having a value of $500,000 (the "Consideration Shares") and a closing cash payment of $131,526 in the aggregate. 

All Consideration Shares issued in connection with the acquisition of JoyBox are subject to a four-month and one day resale restriction and to a 27-month voluntary escrow between the selling shareholders of JoyBox and the Company, with the first release of 25% of the escrowed shares to be released 18 months from the Closing Date. 

For further information on the future consideration that may be payable on future milestones of JoyBox please see the Press Releases.

"We are very excited to embark on this journey with Wondr Gaming, as we continue to tap into Gen-Z entertainment through gaming, lifestyle, NFTs, and more. JoyBox builds thriving online communities through scalable content and along with Wondr's assets - we see endless opportunities to continue to differentiate ourselves and to build at the forefront of digital media in 2022 & beyond." – Sam Park and Kamar Burke, co-founders of Joybox.

"JoyBox, a Shorty Award nominated short-form video content studio, has produced campaigns for global brands including Wondr's recent Samsung partnered 'Call of Duty' stream, with NBA All-Star & Wondr director of strategic athlete engagement, Fred Vanvleet. Joybox will provide a new revenue stream for Wondr, while enhancing our in-house production capabilities for the content Wondr curates and hosts across GameLancer's 20+ owned and operated channels, featuring over 1 billion monthly views and 26,000,000+ followers." – Jon Dwyer, Chairman and Chief Executive Officer of Wondr Gaming.

About Wondr Gaming

Wondr Gaming is a publicly traded entertainment company on the Canadian Securities Exchange (CSE: WDR) (CSE: WDR.WT), builds partnerships and fosters community within the esports, professional sports, and music industries through loyalty & rewards, NFTs, and media business. Wondr Gaming generates revenue through brand partnerships hosted on its loyalty platform, the sale of NFTs focused on esports, professional sports and the music industry, and through direct media and programmatic sales hosted on GameLancer's 20+ owned and operated channels, featuring over 1 billion monthly views and 25,000,000+ followers.

About Joybox Media Inc.

JoyBox Media is a media network and marketing agency that focuses on the intersection of culture and technology. JoyBox provides best-in-class services working with celebrities, brands, and creators to create meaningful communities across digital through paid media, influencer campaigns, and viral content.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release contains forward–looking statements and forward–looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. More particularly and without limitation, this news release contains forward–looking statements and information relating to the future business of the Company, the potential of the Company's products and services, further business from the Company's clients, industry outlook and potential and other matters. The forward–looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward–looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward–looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward–looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward–looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward–looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

SOURCE Wondr Gaming Corp.

Jon Dwyer, Chairman and Chief Executive Officer, [phone], Email: [email protected]