Sports Venture Holdings Refuses to Close Modest enterprise Mixture with Kings Entertainment

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VANCOUVER, BC, March 17, 2023 /CNW/ – Kings Entertainment Group Inc. (“Kings Entertainment” or the “Firm“) (CSE: JKPT) (OTC: JKPTF) announces that, in spite of months of continuous operate by the Firm, Sports Venture Holdings Inc. (“SVH“) is refusing to complete the previously agreed corporation mixture of the Firm and SVH (the “Modest enterprise Mixture“) announced on Might properly 25, 2022.

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The terms of the Modest enterprise Mixture had been agreed to pursuant to a corporation mixture agreement dated Might properly 24, 2022 (the “Modest enterprise Mixture Agreement“) amongst Kings Entertainment and SVH. Pursuant to three extension agreements amongst the Firm and SVH, the outdoors date to close the Modest enterprise Mixture Agreement had been extended to March 17, 2023 (the “Outdoors Date“). Regardless of the Company’s willingness and capacity to complete the Modest enterprise Mixture prior to the Outdoors Date, SVH has advised that it does not intend to do so.

The Firm is considering about all options with respect to the enforcement of the Modest enterprise Mixture Agreement, the loan and its other rights.

Disclaimer and Cautionary Statement Relating to Forward-Hunting Details and details

Precise statements contained in this press release constitute forward-browsing information. These statements relate to future events or future efficiency. The use of any of the words “could”, “intend”, “count on”, “assume”, “will”, “projected”, “estimated” and connected expressions and statements relating to matters that are not historical details are intended to recognize forward-browsing information and are mostly primarily based on the Company’s present belief or assumptions as to the outcome and timing of such future events. Actual future positive aspects could maybe differ materially. In particular, this release contains forward-browsing information relating to, amongst other variables, the Company’s intention to seek enforcement of the Modest enterprise Mixture Agreement, the loan and its other rights, and the Company’s capacity to succeed in recovering amounts owing from SVH. Numerous assumptions or elements are generally applied in drawing conclusions or creating the forecasts or projections set out in forward-browsing information. These assumptions and elements are mostly primarily based on information at present out there to the Firm. In spite of the truth that such statements are mostly primarily based on management’s inexpensive assumptions, there can be no assurance that the Firm will pursue legal recourse or be lucrative in recovering amounts owed by SVH beneath the terms of the Modest enterprise Mixture Agreement.

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Forward-browsing statements are not guarantees of future efficiency and involve dangers, uncertainties and assumptions which are difficult to predict. Such statements and information are mostly primarily based on numerous assumptions relating to present and future corporation procedures and the atmosphere in which the Firm will operate in the future, which contains, anticipated charges, and the capacity to achieve its objectives. Trading in the securities of the Firm genuinely ought to be viewed as particularly speculative.

Elements that could bring about the actual positive aspects to differ materially from these in the forward-browsing statements include, SVH’s willingness to cooperate, frequent monetary, business or corporation circumstances, modifications in legislation and regulations, and litigation. Forward-browsing statements contained in this news release are expressly certified by this cautionary statement. These statements genuinely ought to not be study as guarantees of future efficiency or positive aspects. Such statements involve recognized and unknown dangers, uncertainties and other elements that could maybe bring about actual positive aspects, efficiency or achievements to be materially many from these implied by such statements. The Firm assumes no duty to update or revise forward-browsing information to reflect new events or circumstances unless anticipated by law. Readers genuinely ought to not spot undue reliance on the Company’s forward-browsing statements. Neither the CSE nor its regulation options provider accepts duty for the adequacy or accuracy of this news release.

Provide Kings Entertainment Group Inc.

Cision

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