FansUnite Completes CAD$2.0 Million Private Placement

About this update from Fansunite Entertainment Inc.

FansUnite Completes CAD$2.0 Million Private Placement FansUnite Completes CAD$2.0 Million Private Placement Newsfile Corp. Newsfile Corp Vancouver, British Columbia--(Newsfile Corp. - December 31, 2025) - FansUnite Entertainment Inc. (OTC: FUNFF) (FSE: 4UY) ("FansUnite" or the "Company"), is pleased to announce the closing of a non-brokered private placement (the "Private Placement") pursuant to which the Company issued 359,557,912 common shares (the "Common Shares") at a price of CAD$0.005562 per share for aggregate gross proceeds of CAD$2,000,000. The Company intends to use the net proceeds raised from the Private Placement for general corporate and working capital purposes. Certain insiders of the Company, Tekkorp Consolidated Holdings LP ("Tekkorp Consolidated") and the Company's Chief Executive Officer, have respectively acquired 265,173,959 Common Shares and 1,797,790 Common Shares under the Private Placement. The insiders' participation in the Private Placement constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under Sections 5.5(b) (Issuer Not Listed on a Specified Market) and 5.7(b) (Fair Market Value Not More Than $2,500,000), respectively, of MI 61-101. The Company did not file a material change report more than 21 days before the closing date of the Private Placement as the details of the Private Placement and the participation of related parties were not settled until shortly prior to the closing of the Private Placement, and the Company wished to close the Private Placement on an expedited basis for sound business reasons. The board of directors of the Company, including the independent directors, unanimously determined that the Private Placement is in the Company's best interests and unanimously approved the Private Placement. There has been no prior formal valuation of the Common Shares issued as there has not been any necessity to do so. The Common Shares issued pursuant to the Private Placement are subject to a statutory hold period of four months plus one day from the date of completion of the Private Placement, in accordance with applicable securities legislation. The Common Shares issued pursua...

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