Gamelancer Gaming Corp. Files Annual Financial Statements and Reports Fourth Quarter Revenues

Toronto, Ontario--(Newsfile Corp. - May 20, 2022) - Gamelancer Gaming Corp. (CSE: GMNG) (formerly, Wondr Gaming Corp.) ("Gamelancer" or the "Company") announces that, further to its press releases of May 4, 2022 and May 18, 2022, the Company is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").

On April 20, 2022, the Company announced (the "Default Announcement") that it anticipated being late in filing its audited annual financial statements, management discussion and analysis and certificates of the Chief Executive Officer and Chief Financial Officer (collectively, the "Continuous Disclosure Documents") for the year ended December 31, 2021, by the prescribed deadline of May 2, 2022.

The Company made an application with the applicable securities regulators under NP 12-203 requesting that a management cease trade order ("MCTO") be imposed in respect of the anticipated late filing rather than an issuer cease trade order. On May 3, 2022, the Company received the MCTO from the Ontario Securities Commission pursuant to NP 12-203, pending filing of the Continuous Disclosure Documents. The MCTO does not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities.

The Company is pleased to announce that it has filed its Continuous Disclosure Documents. The Continuous Disclosure Documents can be accessed under the Company's profile at www.sedar.com.

The Company is also pleased to announce that in the fourth quarter of 2021 it has generated advertising revenues of $186,919. As the Company continues to build out its business from the start-up phase, the Company also recorded expenses of $9,766,245, a net loss for the year of $9,579,326 and a total comprehensive loss of $9,742,571 including a fair value loss on a prior investment in a private company.

Said Jon Dwyer, Chief Executive Officer:

"It has been an extremely busy and exciting year for the Gamelancer team with the amalgamation resulting in us becoming a public company, the acquisitions of two companies during 2021 and the closing of two additional acquisitions subsequent to year-end, as well as our financing transactions. We are very pleased that we are now seeing the results of our efforts and investments with a healthy generation of revenues in the latter half of the fourth quarter. We continue to secure revenue-generating contracts that will provide continual future revenue growth, and with the recent acquisition of Gamelancer Inc., we are positioned to scale this growth quickly over the 2022 fiscal year."

About Gamelancer

Gamelancer Gaming Corp. a publicly traded entertainment company on the Canadian Securities Exchange, is a growing mobile focused social media network in gaming - generating over 1 billion+ monthly video views across its 27 owned and operated channels. With over 28,000,000 followers on TikTok, Instagram, and Snapchat, predominantly located in the US, Canada, the UK, and Australia, Gamelancer sells direct and programmatic media across its network to the world's largest brands. With advanced user data analytics, we provide our audience curated content relevant to the GenZ & Millennial gaming community, which allows brands unparalleled access to the largest media inventory in gaming across TikTok, Instagram, and Snapchat. Gamelancer also monetizes across its variety of Snapchat Gaming channels with monthly recurring revenue in partnership with Snapchat.

For further information, please contact:

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

Bill Mitoulas, Investor Relations
Tel: (416) 479-9547
Email: [email protected]

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, the filing of the Company's financial statements. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124814