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June 21, 2022 (TORONTO, CANADA) – OverActive Media (“OverActive” or the “Company”) (TSXV: OAM) (OTCQB: OAMCF), a global sports, media and entertainment company for today’s generation of fans, announced changes to the MAD Lions leadership team in Madrid, Spain. Jorge Schnura, Vice-President of Strategy, is resigning from his current role to pursue a new business venture and will continue in an advisory capacity with the Company. Ricardo Gómez-Acebo Botín, Director of Business Operations (EU) has been promoted to Head, EU Business with oversight of the Partnerships, Marketing and Business Operations functions in Europe. Schnura was the founding member of MAD Lions, a leading esports club in Europe which was acquired by OverActive in 2019. Following the OverActive acquisition, Schnura headed the restructuring, rebranding and repositioning of the MAD Lions brand which now includes team franchises in the League of Legends European Championship, the Superliga in Spain, and the VALORANT Regional League France: Revolution.

“I’m incredibly proud of the calibre of work that has come out of the MAD Lions team. We set out to establish MAD Lions as a top esports club that represents the Spanish passion for lifestyle and gaming, and that’s exactly what we’ve done,” said Jorge Schnura, Vice-President, Strategy, OverActive Media. “While I’ve made the difficult decision to move on from OverActive, I remain very much invested in the continued success of the Company and am thrilled to have Ricardo at the helm.”

Gómez-Acebo Botín has worked with Schnura for the past four years, helping lead the sale of MAD Lions to OverActive Media in 2019. As the head of Business Operations in Europe and a conduit for the Finance and Human Resources departments in Canada, he is well-integrated into the Company’s global business structure. Gómez-Acebo Botín’s experience combined with his time working alongside Schnura makes him a fitting choice to succeed the leadership role at MAD Lions.

“I’m excited to carry the MAD Lions legacy forward. We’ve made great strides since joining OverActive Media and continue to deliver enhanced experiences to our fans and corporate partners,” said Ricardo Gómez-Acebo Botín, Head, EU Business, OverActive Media. “I want to thank Jorge for his leadership and vision in building the MAD Lions brand to where it is today.”

“Jorge’s entrepreneurial spirit has been a key part of our progression and growth in the European market. While it’s always tough to see talented people move on from your organization, we certainly wish Jorge well and celebrate our shared success,” said Chris Overholt, President and CEO, OverActive Media. “We are confident the foundation that has been established in Spain and moving forward under Ricardo’s leadership sets us up well for the future.”

The OverActive team will work closely with Schnura to ensure the MAD Lions leadership team is well positioned for continued success in the future. Schnura’s last day at OverActive will be July 29, 2022.

Leah Gaucher

Director, PR & Communications, OverActive Media

Babak Pedram

Investor Relations, Virtus Advisory Group Inc.

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.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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About OverActive Media

OverActive Media (TSXV: OAM) (OTCQB: OAMCF) is headquartered in Toronto, Ontario, with operations in Madrid, Spain and Berlin, Germany. OverActive’s mandate is to build an integrated global company delivering sports, media and entertainment products for today’s generation of fans with a focus on esports, videogames, content creation and distribution, culture, and live and online events. OverActive owns team franchises in professional esports leagues including (i) the Overwatch League, operating as the Toronto Defiant, (ii) the Call of Duty League, operating as the Toronto Ultra, and (iii) the League of Legends European Championship (“LEC”), operating as the MAD Lions. OverActive also leads OAM Live, an events arm that produces both live and online events.