OVERACTIVE MEDIA LOCKS IN NA VALORANT CHALLENGERS LEAGUE SPOT

January 31, 2023 (TORONTO, ONTARIO) – OverActive Media (TSXV: OAM) (OTCQB: OAMCF) (“OverActive” or the “Company”), a global sports, media and entertainment company for today’s generation of fans, announced its entry into the NA VALORANT Challengers League, operating across Canada and the United States. The Company signed a promising roster of players in Q4 2022 who most recently finished top four out of more than 250 teams at the NA VALORANT Open Qualifier which took place in early January. The top four teams at the Open Qualifier secured a spot in the NA VALORANT Challengers League. MAD Lions VALORANT, formerly known as Dark Ratio, joins other prominent organizations in the League including TSM, Faze Clan, and G2 Esports.

The MAD Lions VALORANT roster consists of Adam “Ange” Milian, Justin “Trick” Sears, Taylor “drone” Johnson, Anthony “ZexRow” Colandro, William “Will” Cheng and Head Coach Jornen “MoonChopper” Nishiyama. Two players are originally from Canada and three are American.

“We’re thrilled to join this exclusive group of talented players and notable organizations for the NA League’s inaugural season,” said Adam Adamou, Chief Strategy Officer, OverActive Media. “VALORANT is today’s fastest-growing esport¹ and we’re proud to have made it through the competition.”

Originally launched in June 2020 by Riot Games (creators of League of Legends), VALORANT reached 14 million monthly active PC players and half a billion games played in its first year². Last year Riot Games announced the introduction of international and domestic leagues, in addition to this new competitive game mode for aspiring pro players, both set to launch in 2023.

“VALORANT is the perfect addition to our existing esports teams and we’re excited to help bring the League to the Canadian marketplace,” said Alyson Walker, Chief Commercial Officer, OverActive Media. “We’re confident expanding into VALORANT will drive significant viewership while creating opportunities to engage with a new community of fans.”

The first split of the year kicks off on February 1 and runs through to March 17, 2023, with matches broadcast on Twitch at VALORANT_NorthAmerica - https://www.twitch.tv/valorant_northamerica. Follow MAD Lions on Twitter at MADLions_EN for the latest news and updates.

¹ Valorantesports.com

² Valorant reaches 14M active players and 500M games played | VentureBeat

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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