NorthStar Gaming Announces Results of Annual General and Special Meeting of Shareholders

Rhea-AI Summary

NorthStar Gaming Holdings announced the results of its annual general and special meeting held on June 7, 2024. All director nominees listed in the May 6, 2024, management information circular were re-elected, except Chris Hodgson, who did not stand for re-election. The shareholders reappointed KPMG LLP as auditors and approved amendments to the company's omnibus equity compensation plan. Additionally, shareholders approved a potential consolidation of shares, with a ratio of one post-consolidated share for up to every ten currently outstanding shares. Details are available on the SEDAR+ profile.

Positive

• All director nominees were successfully re-elected, ensuring continuity in leadership.
• KPMG LLP was reappointed as auditors, indicating consistent accounting oversight.
• Amendments to the omnibus equity compensation plan were approved, potentially enhancing employee incentives.

Negative

• Chris Hodgson did not stand for re-election, indicating a change in the board's composition.
• Shareholders approved a potential consolidation of shares, which may dilute the value of existing shares.
• The share consolidation announcement is deferred, adding uncertainty regarding its timing and impact.

Toronto, Ontario--(Newsfile Corp. - June 7, 2024) - NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") is pleased to announce the results of voting at its annual general and special meeting of shareholders held on June 7, 2024 (the "Meeting").

Each of the director nominees listed in the Company's management information circular dated May 6, 2024 (the "Circular") were re-elected as directors of the Company, including Vic Bertrand, Brian Cooper, Dean Macdonald, Chris McGinnis, Michael Moskowitz, Alex Latner, Sylvia Prentice, and Barry Shafran. Chris Hodgson did not stand for re-election as a director, and the Company thanks him for his service on the board.

The shareholders of the Company approved the re-appointment of KPMG LLP as the auditors of the Company for the ensuing year and authorized the board of directors to fix their remuneration and terms of engagement.

At the Meeting, the shareholders of the Company approved certain amendments to the Company's omnibus equity compensation plan (the "Plan"), in accordance with the TSX Venture Exchange rules and policies. A copy of the Plan is attached as an appendix to the Circular, which is available on the Company's SEDAR+ profile at www.sedarplus.com.

The shareholders approved the consolidation of the NorthStar Shares on the basis of one (1) post-consolidated NorthStar Share for up to every ten (10) currently outstanding NorthStar Shares. Any such consolidation would be the subject of a future announcement by the Company.

About NorthStar

NorthStar proudly owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment along with the most popular online casino games. NorthStar's subsidiary, Slapshot Media Inc., provides managed services to Northstarbets.com, an iGaming site owned and operated by the Abenaki Council of Wolinak.

A Canadian company, NorthStar is uniquely positioned to become a convergence leader in the intersection of sports media and sports wagering thanks to its partnerships and agreements with leading media companies. NorthStar is committed to operating at the highest level of responsible gaming standards.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Note Regarding Forward-Looking Information and Statements

This communication contains "forward-looking information" within the meaning of applicable securities laws in Canada ("forward-looking statements"), including without limitation, statements with respect to the following: expected performance of the Company's business, continued access to capital, and continued success in customer acquisition. The foregoing is provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing investors and others to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. This forward-looking information is based on management's opinions, estimates and assumptions that, while considered by NorthStar to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, among others, the following: risks related to the Company's business and financial position; risks associated with general economic conditions; adverse industry risks; future legislative and regulatory developments; the ability of the Company to implement its business strategies; and those factors discussed in greater detail under the "Risk Factors" section of the Company's most recent annual information form, which is available under NorthStar's profile on SEDAR+ at www.sedarplus.com. Many of these risks are beyond the Company's control.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents NorthStar's expectations as of the date specified herein and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

For further information:

Company Contact:
Corey Goodman
Chief Development Officer
647-530-2387
investorrelations@northstargaming.ca

Investor Relations:
RB Milestone Group LLC (RBMG)
Northstar@rbmilestone.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212191

FAQ

What were the results of NorthStar Gaming's annual general meeting on June 7, 2024?

All director nominees were re-elected, KPMG LLP was reappointed as auditors, and amendments to the equity compensation plan were approved.

Were any new directors elected at the NorthStar Gaming meeting on June 7, 2024?

No new directors were elected; all existing director nominees were re-elected.

What changes were approved to NorthStar Gaming's equity compensation plan?

Shareholders approved certain amendments to the company's omnibus equity compensation plan.

What is the potential share consolidation ratio approved by NorthStar Gaming shareholders?

The approved consolidation ratio is one post-consolidated share for up to every ten currently outstanding shares.

Where can I find more details about the NorthStar Gaming meeting results?

Details can be found on the company's SEDAR+ profile at www.sedarplus.com.