Bragg Gaming Group Announces Closing of Private Placement With Participation from Insiders and Drayton International's Matt Davey

About this update from Bragg Gaming Group Inc.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO and LAS VEGAS, June 22, 2026 /CNW/ - Bragg Gaming Group (NASDAQ: BRAG) (TSX: BRAG) ("bragg" or the "Company"), a leading iGaming content and platform technology solutions provider, today announced the closing of its previously announced non-brokered private placement of 751,445 subscription receipts (the "Subscription Receipts") at a price of US$1.73 per Subscription Receipt for aggregate gross proceeds of approximately US$1,300,000 (the "Offering"). The issue price of US$1.73 per Subscription Receipt was based on the closing price of the common shares of the Company (the "Shares") on the Nasdaq Stock Market LLC (the "Nasdaq") on May 29, 2026. The Subscription Receipts and the aggregate gross proceeds remain subject to escrow release conditions (the "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 (the "Transaction"), which is expected to close in the third quarter of 2026. 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 (a "Warrant"). Each Warrant will be exercisable into one Share (a "Warrant Share") for a period of 36 months from the closing of the Transaction (the "Warrant Expiry Date") at an exercise price of US$2.16 per Warrant Share (the "Warrant Exercise Price"), subject to acceleration as described below. In the event that the volume weighted average price of the Shares on the Toronto Stock Exchange (the "TSX") (or such other Canadian stock exchange on which the Shares are listed for trading) equals or exceeds a price that is 25% above the Warrant Exercise Price for 15 consecutive trading days, then bragg, in its sole discretion, may accelerate the Warrant Expiry Date by issuing a press release (a "Warrant Acceleration Press Release") and, in such case, the Warrant Expiry Date will be deemed to be 5...

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