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Alpha Esports Announces Entry into Adult Gaming; Signs Definitive Agreement to Acquire Heavy Chips Casino and Sports Betting from Gamesoft Ltd

Acquisition of Heavy Chips will more than double Alpha's current user base to over 390,000.

VANCOUVER, British Columbia, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Alpha Esports Tech Inc. (CSE: ALPA) (FSE:9HN), (OTC PINK: APETF), ("Alpha" or the "Company") today announces it has signed a definitive agreement to acquire 100% of Heavy Chips Casino and Sports Betting ("Heavy Chips") from Gamesoft Ltd.

Heavy Chips is a fully operational online gaming site with over 800 popular casino games and over 5,000 sports betting opportunies every day on sports such as football, tennis, basketball, and more. In total, Heavy Chips provides access to live dealer games, casino slots, arcade casino games, and sports betting. Currently, Heavy Chips has over 240,000 registered players on its website.

"The acquisition of an online gaming site such as Heavy Chips will be a major milestone for Alpha in many ways," said interim CEO, Matthew Schmidt. "We will now be active in the adult gaming space, a space we feel has tremendous potential to help the Company increase shareholder value. Ultimately, we believe Heavy Chips certainly provides value in a number of ways including revenue, an expanded global userbase, and further operational expansion into Europe."

"We built a very strong platform in Heavy Chips and will continue to help Alpha maximize on the growing potential it has," said CEO of Gamesoft Ltd, Maxim Terehovich. "Heavy Chips has especially seen a lot of growth in the last several months and we expect this will continue under the ownership of Alpha."

Under the terms of this acquisition for the purchase of 100% of Heavy Chips, Alpha will pay Gamesoft $300,000 CDN.

About Alpha Esports Tech Inc.

Alpha Esports Tech Inc. is a technology company that focuses on emerging industries in esports, mobile gaming, ecommerce and other high growth opportunities. Through a strong portfolio of technology assets and products such as GamerzArena, Alpha Esports Tech brings a unique mass-appeal focus to modern gaming platforms. Learn more at: www.alphatech.inc

About Heavy Chips Casino and Sports Betting

Our motto is: You Play. We pay.

At Heavy Chips Casino you will find a lot of fun, money, and a great variety of online games to play. Do you want to legally rob our bank? Play the top-quality casino games: the newest and most popular slots and live games including roulette, blackjack, baccarat, and other games.

Heavy Chips Casino offers all the best games developed by the top providers including Booming Games, MrSlotty, NetEnt, iSoftBet, Endorphina, BetConstruct, Playson, Pragmatic Play, Habanero, Oryx, Kalamba, Gamomat, Golden hero, Givme, BetGamesTV, Microgaming, 1x2gaming_MG, NextGen, BetconstructLiveDealer, EvolutionLiveCasino, Ezugi, and others.

We want our players to be safe, that is why we use only payment solutions only from the most trusted providers. Available payment systems include Visa, MasterCard, Neteller, Skrill,ecoPayz, MuchBetter, Neosurf, Paysafecard, eps, Flexepin, Zimpler, Bank Transfer, Astropay, and others. That is also possible to fund your account using Bitcoin. For the convenience of players, online casino accepts deposits in various currencies.


Investor Relations: ir@alphatech.inc - 604 359 1256
Media and Public Relations: - media@alphatech.inc

On Behalf of The Board of Directors
Jonathan Anastas
Chairman and Director

Forward Looking Statement

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future of the Company's business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements in this news release are made as of the date of this release.

The CSE has not reviewed, approved or disapproved the content of this press release

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