Gaming Innovation Group - Issue of new shares

Gaming Innovation Group - Issue of new shares

Issuer

Gaming Innovation Group Inc

Gaming Innovation Group Inc. (GiG) has today issued 2,176,941 new shares of its
common stock. The new shares are issued by the Board of Directors under the
Company's 150,000,000 authorized shares, and the Company confirms that the new
shares have been duly authorized by all necessary corporate actions and that the
new shares have been fully paid and validly issued. The Company's share capital
has increased from USD 129,003,161 to USD 131,180,102, and the number of
outstanding shares has increased from 129,003,161 to 131,180,102 (par value USD
1.00). In addition, a total of 1,432,500 options are outstanding as of today.

The 2,176,941 new shares were distributed as follows:

823,897 new shares have been issued in connection with the acquisition of KaFe
Rocks Ltd., ref. announcements from GiG on 7 November 2023 and 21 December 2023.
Under the Share Purchase Agreement, GiG were obligated to issue EUR 2.5 million
in shares to the sellers, pending specific operational cost savings targets
being met by year-end 2023. The targets were met, and the sellers are entitled
to extra payment, where the number of shares is based on a 30-day VWAP of the
GiG share at the time of closing (NOK 30.11).

982,694 new shares have been issued in connection with the option program
entered into in connection with the acquisition of Sportnco Gaming SAS
("Sportnco"), ref. Exemption Document dated 13 July 2022., whereby key
employees in Sportnco, contingent on continued employment, will receive shares
in the Company at EUR 2.11 (NOK 24.80) per share.

370,350 new shares have been issued in connection with exercise of options,
whereof 319,000 shares at a share price of NOK 15.00 and 51,350 at a share price
of NOK 22.00 per share.

For further information, please contact:
Tore Formo, Group CFO, [email protected], +47 91668678

About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing
solutions, products and services to iGaming Operators. Founded in 2012, Gaming
Innovation Group's vision is 'To be the industry leading platform, sportsbook
and media provider delivering world class solutions to our iGaming partners and
their customers. GiG's mission is to drive sustainable growth and profitability
of our partners through product innovation, scalable technology and quality of
service. Gaming Innovation Group operates out of Malta and is dual-listed on the
Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under
the ticker symbol GIGSEK. www.gig.com

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