OVERACTIVE MEDIA AND WARNER MUSIC SPAIN EXTEND COMMERCIAL PARTNERSHIP AGREEMENT TO ENHANCE FAN EXPERIENCES

November 9, 2022 (TORONTO, ONTARIO // MADRID, SPAIN) – OverActive Media (TSXV: OAM) (OTCQB: OAMCF) (“OverActive” or the “Company”), a global sports, media and entertainment company for today’s generation of fans, announced the renewal and expansion of their agreement with Warner Music Spain (“Warner Music”). Warner Music is part of leading record label Warner Music Group (NASDAQ: WMG) featuring artists such as Pablo Alborán, Dua Lipa and Bruno Mars.

The partnership provides OverActive’s MAD Lions brand, one of the top esports organizations in Europe, with continued opportunities to grow its presence across music, lifestyle, and entertainment, deepening engagement with its fanbase. This agreement follows MAD Lions qualifying for the League of Legends World Championship for the fourth consecutive year. According to Esports Charts, the most watched team on the first day of Worlds was MAD Lions whose games accumulated over 2.4 million hours watched.

"Warner Music Spain is proud to continue our relationship with OverActive to build on the momentum across esports and to provide added value for our artists, MAD Lions players, and fans of both worlds," said Sergio Méndez, Head of Artist Services & Institutional Relations, Warner Music Spain. "MAD Lions is a leader in European esports with an extremely loyal fanbase. We look forward to amplifying the synergy between music and video games with one of the best in the business.”

The two brands originally teamed up in 2021 with a first-of-its-kind agreement in Spain that positioned Warner Music as a leader in the space, showcasing its commitment to esports and gaming in the country. Over the past year, they’ve collaborated to release a MAD Lions song and accompanying music video, “Dime si te atreves” that featured players from MAD Lions’ LEC championship-winning team, bring esports fans closer to their favourite artists through concert ticket surprise and delights, and connect emerging Warner Music artists to the esports community through the club’s official Spotify playlist. ​

“We’re thrilled to extend our relationship with Warner Music Spain. The renewed commitment to our business signals their confidence in both MAD Lions and where esports is headed,” said Ricardo Gómez-Acebo Botín, Senior Director and Head of EU Business, OverActive Media. “Having a creative partner like Warner Music Spain provides us with latitude to build on what we’ve accomplished over the past year and to explore new territory moving forward.”

The partnership agreement between OverActive and Warner Music continues to focus on bringing the esports and music communities together through events, unique experiences and content creation. Together, both brands will work to generate added value for fans throughout the upcoming League of Legends European Championship season.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: (a) OverActive’s anticipated VALORANT team; and (b) expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking statements are not based on historical facts but instead OverActive management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the OverActive. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and risk factors set out in OverActive’s annual information form for the year ended December 31, 2021. These forward-looking statements may be affected by risks and uncertainties in the business of OverActive and general market conditions, including COVID-19.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although OverActive has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. OverActive does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

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