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Classified in: Sports and recreation, Covid-19 virus

React Gaming's Parabellum esports teams show solid performance and win first sponsor

MONTREAL, July 19, 2022 (GLOBE NEWSWIRE) -- React Gaming Group Inc. ("React Gaming" or the "Corporation") (TSXV: RGG, OTCMKTS: ITMZF) is pleased to provide an update on its wholly-owned Parabellum Esports subsidiary, acquired last February.

Parabellum's men's esports team plays in the Rainbow 6 North American League run by Ubisoft. This men's esports professional league is composed of 10 teams and has three stages where teams each play one game against the other nine teams, with playoffs for the top four teams at the end of each stage. At the end of the season, the four best overall teams from the three stages compete in the world playoffs. Last year the prize money for the world playoffs was $3 million.

In its first year as a professional team, Parabellum has progressed very well and currently ranks in 6th place as of stage 2, when the team was joined by Alexandre "Blaz" Thomas, a top-10 European player and import from France, and Shaun "Gunnar" Pottorff, an 18-year-old rookie on the top-wanted list for some of the top contenders in the North American League. These new additions already proved their worth in stage 2 in a very competitive league, where the point spread between the first and sixth place was a mere two points. Stage 3 holds a lot of promise for this young team.

Parabellum's women's team, which is based in Brazil, has also shown strong results, finishing in the top 4 in the Brazilian tournament "Ela Faz o Game". The team is playing in the "Circuito Feminino 2022" league and is currently in the stage 4 playoffs.

These performances have enabled Parabellum Esports to attract its first paid sponsorship, with Shakepay, a Canadian technology company, as their first entry into esports.

"Over the last year and with our first entry into the professional ranks, things have been moving fast and progressing well for our teams," said Chris Lamarucciola, co-founder and CEO of Parabellum Esports. "We're very pleased with the growing interest we see in our brand from gamers, fans and sponsors alike, and we're thrilled to have Shakepay supporting us as our first sponsor."

"Shakepay is delighted to have the Parabellum team as our first esports partner. We're so excited to be part of their journey as they climb the Rainbow 6 ranks, and to help deliver value to their enthusiastic fan base any way we can," said Carlo Campisi, Partnerships Manager of Shakepay.

"Parabellum is a major component of our esports ecosystem, mainly as an ambassador for our other brands, LOOT.BET and Compete.gg, through its fan base that is growing on a global scale," said Leigh Hughes, CEO of React Gaming. "Our strategy over the coming years will be to build competitive teams for popular esport games and grow their brands as teams and individuals, along the lines of what we currently see in traditional competitive sports. This will also allow Parabellum to generate revenues from sponsorship, cash prizes and merchandise as the brand continues to grow."

About Shakepay
Shakepay is a Montreal-based technology company that provides financial applications for building wealth. Canadians from all walks of life ? college students to retirees ? use Shakepay to connect with the digital economy built on the Internet. For more information, please visit us at shakepay.com.

About Parabellum Esports
Founded in 2020, Parabellum is a Canadian Professional Esports Organization that competes in titles such as Rainbow 6, Rocket League, Super Smash Bros Ultimate, CSGO and iRacing. We also have a full content team with content creators and streamers from all over North America. Parabellum also runs Northern Shield Academy, which gives amateur players coaching, mentorships and paths to move their esports career forward. For more information, come check us out at parabellumesports.com.

About React Gaming Group
React Gaming Group (formerly known as Intema Solutions Inc.) (TSXV: RGG) is a publicly traded holding company that stands at the forefront of the esports and iGaming industry. By investing in innovative technologies that enhance tournaments, teams and wagering, we provide our users with gaming platforms that produce non-stop action, exciting outcomes and unparalleled enjoyment. Through the use of intelligent data, we also connect our sponsors to robust communities within the rapidly evolving industry, ensuring maximum engagement and substantial reward. For more information, please visit us at reactgaming.ca and follow us on LinkedIn, Twitter, Instagram and YouTube.

Forward-Looking Statements
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Corporation's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Corporation's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Corporation's activities, including: that the Corporation's assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and gaming; the inability to obtain, or maintain, gaming license(s); and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Corporation, including its results and financial condition. Except as required by securities law, the Corporation does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Leigh Hughes

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92310a81-09bf-4418-b11c-c135eedd07ea

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