Bragg Gaming Group Plans to Issue 751,445 Subscription Receipts

Bragg Gaming Group expects to issue, by way of a non-brokered private placement, up to 751,445 subscription receipts at a price of $1.73 per Subscription Receipt for aggregate gross proceeds of up to approximately $1,300,000. The issue price of $1.73 per Subscription Receipt is based on the closing price of the common shares of the Company on the Nasdaq Stock Market on May 29. Upon the satisfaction of the Release Conditions, each Subscription Receipt will be automatically exchanged, without any further action or payment of any additional consideration therefor, subject to adjustments, for one Share and one non-transferable common share purchase warrant. Each Warrant will be exercisable into one Share for a period of 36 months from the closing of the Transaction at an exercise price of $2.16 per Warrant Share, subject to acceleration. The Subscription Receipts and the aggregate gross proceeds are subject to escrow release conditions including the completion or satisfaction of all material conditions precedent to the Company's previously announced acquisition of all of the issued and outstanding securities of Drayton International. Closing of the Offering is expected to occur on or about June 19. In connection the Offering, Robbie Bressler, CFO, intends to subscribe for up to 86,705 Subscription Receipts; Morten Tonnesen, COO intends to subscribe for up to 57,803 Subscription Receipts; and Thomas Winter, a director of the Company, intends to subscribe for up to 57,803 Subscription Receipts. Furthermore, renowned gaming entrepreneur Matt Davey, Founder and Chairman of gaming-oriented investment fund, Tekkorp Capital, intends to subscribe for up to 115,607 Subscription Receipts.