Gamelancer Media Q1 2023 Revenues Exceed Q1 2022 by 986%

Accelerating Scalability Through Data-Driven Value Assessment

TORONTO, ON / ACCESSWIRE / May 31, 2023 / Gamelancer Media Corp. (CSE:GMNG)(OTCQB:GAMGF)(FRA:P93) (the "Company" or "Gamelancer"), a leading digital media, entertainment, and production company, is pleased to announce its financial results for the first quarter of 2023. During this period, the Company has exceeded management's projections, achieving revenue growth of 986% compared to Q1 2022.

To establish and better articulate the value of the Company's owned and operated digital channels, Gamelancer strategically enhanced its investment in previous audit procedures. This strategic initiative was implemented to ensure a comprehensive and reliable valuation of the Company's expansive network and creative capabilities, thereby establishing a robust precedent for valuing Gamelancer's 54 digital-channels with over 40 million followers, 56% of which live in the US. The value a brand attributes to a viewer/follower/subscriber is described principally by their location. Gamelancer's network resides over 75% in Canada, the US, Australia, and the UK, with active clients in each region. Gamelancer owns one of the largest active and growing digital audiences in the 4 most valuable English-speaking regions on the planet to brands and agencies.

Gamelancer as a public entity is unique in that the company provides market participants exposure to the monetization of digital channel ownership on TikTok, Snapchat, and Instagram. Gamelancer owns one of the largest communities on TikTok globally, and is a strategic partner of TikTok, participating in numerous TikTok revenue-share pilot programs.

The 2023 Q1 financial report underscores Gamelancer's dedication to driving sustainable growth from a network perspective, as well as revenue, thereby enhancing shareholder value. Q2 2023 will witness increased reduction in overhead costs as Gamelancer gets closer to its aim of being EBITDA positive in Fiscal Year, 2023.

Revenues	$722,209
Gross Margin	$177,955
Total Expenses	$2,999,637
Net Loss	$(2,590,925)
Adjusted EBITA[1]	$(1,273,961)

*Revenues increased by 986% in Q1 2023 compared to Q1 2022.

Although Q1 is historically the slowest quarter in the media sector², Gamelancer had numerous campaigns launched within Q1, however they span multiple quarters and will be reported later in the year, and consequently were not recorded in Q1. In addition to exceeding Q1 2022 revenue, Gamelancer also reduced EBIDTA loss by $244,939. Gamelancer continues to undertake cost cutting initiatives enroute to EBITDA positive results projected for Q4, 2023. Examining its internal processes and procedures, Gamelancer is committed to dramatically reducing the professional fees associated with being a publicly traded company within the calendar year.

Q1 witnessed a continued effort to streamline operations, and better understanding cost of goods sold (COGS), a trend that investors can continue to track throughout the balance of the year.

"We are pleased that the company exceeded Q1 2022 results. Gamelancer made a strategic decision to invest more into our 2022 year-end audit processes this year, given the unprecedented nature of the Gamelancer acquisition. We engaged three independent firms to provide a comprehensive valuation opinion," stated Jon Dwyer, Gamelancer Chairman and CEO, "The investment in audit procedures will provide shareholders with a detailed balance sheet description and network-value-assessment of the 54 digital-channels with over 40 million followers, which Gamelancer owns. This has created a unique precedent ascribing value to novel assets such as digital channels ownership on TikTok, Snapchat and Instagram. Our goal is that this process will aid the capital markets community in their endeavor to better understand the value of our IP, and digital-channel network ownership therein."

Gamelancer Media is committed to making strategic investments in the processes and procedures that will yield the most value for the Company and its stakeholders. Gamelancer Media remains steadfast in its strategic business trajectory, with a shared objective among insiders to preserve the Company's existing capital structure. Management and insiders, collectively holding over 59% of outstanding common shares in Gamelancer Media Corp, intend to oppose the proposed share consolidation during the upcoming 2023 annual shareholders meeting.

About Gamelancer

Acquired by Wondr Gaming, Gamelancer Media Corp. is a media & entertainment company producing short-form video content for brands, with broadcast on its owned and operated TikTok, Snapchat, and Instagram channels. Gamelancer Media will focus on developing new brand, agency, and creator relationships and new opportunities for existing associates through its strategic partnerships with TikTok North America, Snap Inc., and Dubit, a UK game developer. The media company currently works with companies such as Samsung, Belkin, Celsius, and several other notable brands. The company produces and distributes content across its 54 owned-and-operated channels to 40+ million followers & subscribers, generating over 2 billion monthly video views and growing by over 1.5 million new followers monthly. A majority of the Gamelancer's audience are located in the USA, Canada, the UK, and Australia.

With advanced user data analytics, Gamelancer provides its audience with content relevant to the Gen Z & Millennial respective communities. Gamelancer owns the largest gaming media inventory on TikTok. Gamelancer also monetizes across its Snapchat Discover channels in partnership with Snapchat.

Gamelancer is 59% insider owned, calculated as of April 2023.

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For further information, please contact:

Jon Dwyer, Chairman and Chief Executive Officer
Tel: (416) 627-8868
Email: ir@gamelancer.com
IR Email: info@gamelancer.com

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. 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.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

^[1] This number excludes non-cash items such as Share-Based Compensation, Finance Costs (interest), Foreign Exchange, and Depreciation.

^[2] Https://digiday.com/media/some-publishers-report-that-q1-ad-revenue-is-pacing-10-25-behind-forecasts/

SOURCE: Gamelancer Media Corp.

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