X1 Announces Sale of ShiftRLE

LEGAL_40926736.1

X1 Announces Sale of ShiftRLE

VANCOUVER, BC – March 17, 2023 – X1 Entertainment Group Inc. (CSE:XONE; OTCQX:

XOEEF; FSE: ZI0 ) (“X1” or the “ Company”) announces that it has entered into an asset

purchase agreement (the “ APA”), pursuant to which the Company has sold, as of immediate

effect, all assets related to ShiftRLE (the “ Transaction”). ShiftRLE is an online rocket league

community, which has incorporated the assets of previously acquired Octane.gg, to form an

updated user experience on shiftrle.gg. The purchasers are the prior owners of ShiftRLE, and

the primary service providers to the C ompany in respect of the operations of ShiftRLE. In

connection with the Transaction, the purchasers have satisfied the purchase price by forgoing

any rights to termination payments or otherwise in connection with their consulting agreements

with X1, for an aggregate value to the Company of US$35,250.

About X1

X1 Entertainment Group Inc. is a portfolio company targeting assets across the gaming,

esports, media, and entertainment industries, and currently holding X1 Talent, a boutique talent

management group for digital content creators . Based in Vancouver, BC, the Company is

publicly traded on the Canadian Securities Exchange under the ticker symbol (CSE:XONE).

For more information, please contact:

Adam Giddens

CEO and Director

For enquiries, please call 604- 229-9445 or toll free 1- 833-923-3334 or email [email protected].

www.X1Ent.com

www.X1Ent.com

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or

accuracy of this release.