LONDON: XLMedia Plc has entered into an agreement to acquire the business and assets of Sports Betting Dime (SBD) for a total approximate consideration of US$26 million.

In addition XLMedia announces its intention to raise gross proceeds of £23 million by means of a placing, a direct subscription with the Company and an Open Offer.

Acquisition highlights:

· Founded in 2012 as a sports book review site, SBD has developed into a multichannel sports betting digital media platform, including two mobile apps

· The Acquisition provides XLMedia with a leading US affiliate sports betting brand delivering national traffic through its website, sportsbettingdime.com

· The Acquisition cements XLM’s market position in the rapidly growing regulated US sports betting market and, together with XLMedia’s existing US sports betting asset (CBWG), provides scale at local and national level

· SBD also brings to XLMedia a talented team with a range of skills, including marketing, search optimisation, content production and technology development. This provides a solid base from which XLMedia can accelerate growth in North American sports betting and its existing personal finance offering

· The Acquisition is expected to complete on or around 22 March 2021 upon payment of the initial consideration

Fundraising highlights:

· Proposed Placing and Subscription to raise minimum gross proceeds of £20 million by way of accelerated bookbuild through the issue of minimum 50,000,000 new ordinary shares of US $0.000001 each (the “Ordinary Shares”) at 40 pence per share (the “Issue Price”), representing 25.6% of the Company’s existing share capital

· The Issue Price of 40 pence per Placing Share and Subscription Share represents a 6.5 per cent. discount to the 20 day volume weighted average price (VWAP) of 42.8 pence prior to 18 March 2021

· Cenkos Securities plc (“Cenkos”) and Joh. Berenberg, Gossler & Co. KG, London Branch (“Berenberg”) (together, the “Joint Bookrunners”) are acting as joint bookrunners in connection with the Placing and Berenberg has underwritten the first £7.29 million raised

· Proposed Open Offer to raise up to approximately £3 million from Qualifying Shareholders

· Certain directors and employees of the Company have indicated their intention to subscribe for, in aggregate, new Ordinary Shares representing approximately £670,000 at the Issue Price pursuant to the Placing and Subscription

· Premier Investissement SAS, the Company’s largest shareholder, has indicated its intention to subscribe for, in aggregate, new Ordinary Shares representing approximately £11.82 million at the Issue Price pursuant to the Placing

Stuart Simms, Chief Executive of XLMedia plc, said: “We set out a clear strategy to develop and monetise a balanced portfolio of content-rich and engaging consumer-centric websites, with a greater exposure to regulated markets and a particular focus on rapidly developing and scaling our presence in US sports. We are delighted with the progress of the CBWG business in North America in the short period since we acquired it in December, and we are excited by the potential synergy value from leveraging the scale, footprint and skills of SBD.

“We believe the combination of Sports Betting Dime and CBWG provides the Group with immediate scale and broad market reach at a time when US sports betting is experiencing significant growth momentum as additional states regulate and open up to legalised sports betting.”

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