TGS Esports to Acquire Reinhart Digital TV and NextTrip in Business Combination with NextPlay Technologies

VANCOUVER, BC, June 29, 2022 /CNW/ - TGS Esports Inc. ("TGS" or the "Company") (TSXV:TGS.VN) is pleased to announce that, further to its news releases dated February 18, 2022, March 16, 2022, and April 19, 2022, the Company has entered into a Securities Exchange Agreement dated June 28, 2022 (the "Agreement") with NextPlay Technologies, Inc. (Nasdaq:NXTP) ("NextPlay"), Don Monaco and William Kerby, pursuant to which the Company has agreed to acquire a 51% interest in Reinhart Interactive TV AG ("Reinhart") (which is the 100% owner of Zappware) and 100% interest in NextTrip Group LLC ("NextTrip") from NextPlay and Mssrs. Monaco and Kerby, and to complete certain ancillary transactions (collectively, the "Transaction").  Prior to closing of the Transaction (the "Closing"), the Company intends to raise gross proceeds of up to $2,000,000 through the private placement of common shares of the Company (the "TGS Shares") at $0.20 per TGS Share (the "Interim Financing").