Sports Venture Holdings Refuses to Close Organization Mixture with Kings Entertainment

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VANCOUVER, BC, March 17, 2023 /CNW/ – Kings Entertainment Group Inc. (“Kings Entertainment” or the “Corporation“) (CSE: JKPT) (OTC: JKPTF) announces that, in spite of months of constant work by the Corporation, Sports Venture Holdings Inc. (“SVH“) is refusing to total the previously agreed business enterprise mixture of the Corporation and SVH (the “Organization Mixture“) announced on Might 25, 2022.

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The terms of the Organization Mixture have been agreed to pursuant to a business enterprise mixture agreement dated Might 24, 2022 (the “Organization Mixture Agreement“) among Kings Entertainment and SVH. Pursuant to 3 extension agreements among the Corporation and SVH, the outdoors date to close the Organization Mixture Agreement had been extended to March 17, 2023 (the “Outdoors Date“). Regardless of the Company’s willingness and capability to total the Organization Mixture prior to the Outdoors Date, SVH has advised that it does not intend to do so.

The Corporation is thinking about all selections with respect to the enforcement of the Organization Mixture Agreement, the loan and its other rights.

Disclaimer and Cautionary Statement Concerning Forward-Hunting Data

Particular statements contained in this press release constitute forward-hunting data. These statements relate to future events or future overall performance. The use of any of the words “could”, “intend”, “anticipate”, “think”, “will”, “projected”, “estimated” and related expressions and statements relating to matters that are not historical details are intended to recognize forward-hunting data and are primarily based on the Company’s existing belief or assumptions as to the outcome and timing of such future events. Actual future benefits could differ materially. In specific, this release consists of forward-hunting data relating to, amongst other factors, the Company’s intention to seek enforcement of the Organization Mixture Agreement, the loan and its other rights, and the Company’s capability to succeed in recovering amounts owing from SVH. Many assumptions or things are ordinarily applied in drawing conclusions or producing the forecasts or projections set out in forward-hunting data. These assumptions and things are primarily based on data presently obtainable to the Corporation. Even though such statements are primarily based on management’s affordable assumptions, there can be no assurance that the Corporation will pursue legal recourse or be profitable in recovering amounts owed by SVH beneath the terms of the Organization Mixture Agreement.

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Forward-hunting statements are not guarantees of future overall performance and involve dangers, uncertainties and assumptions which are complicated to predict. Such statements and data are primarily based on quite a few assumptions concerning present and future business enterprise approaches and the atmosphere in which the Corporation will operate in the future, such as, anticipated fees, and the capability to reach its targets. Trading in the securities of the Corporation should really be regarded hugely speculative.

Things that could lead to the actual benefits to differ materially from these in the forward-hunting statements incorporate, SVH’s willingness to cooperate, common financial, marketplace or business enterprise situations, alterations in legislation and regulations, and litigation. Forward-hunting statements contained in this news release are expressly certified by this cautionary statement. These statements should really not be study as guarantees of future overall performance or benefits. Such statements involve identified and unknown dangers, uncertainties and other things that could lead to actual benefits, overall performance or achievements to be materially diverse from these implied by such statements. The Corporation assumes no duty to update or revise forward-hunting data to reflect new events or situations unless necessary by law. Readers should really not spot undue reliance on the Company’s forward-hunting statements. Neither the CSE nor its regulation solutions provider accepts duty for the adequacy or accuracy of this news release.

Supply Kings Entertainment Group Inc.