Super League Gaming, Inc. (NasdaqCM:SLGG) acquired Substantially all of the assets of Melon, Inc. for $3.3 million on May 4, 2023. At the Closing, the Company paid an aggregate total of $900,000 to Melon, of which $150,000 was paid in the form of the forgiveness of certain working capital advances paid to Melon between the dates of April 14, 2023 to May 4, 2023 in the equivalent amount, and the remaining $750,000 was paid in the form of shares of the Company’s Common Stock, valued at $0.4818. Pursuant to the terms and subject to the conditions of the Purchase Agreement, up to an aggregate of $2,350,000 (the “ Contingent Consideration ”) will be payable to Melon in connection with the achievement of certain revenue milestones for the period from the Closing until December 31, 2023 (the “ First Earnout Period ”) in the amount of $1,000,000, and for the year ending December 31, 2024 (the “ Second Earnout Period) in the amount of 1,350,000 (the “ Second Earnout Period ” and the First Earnout Period are collectively referred to as the “ Earnout Periods ”). The Contingent Consideration is payable in the form of cash and Common Stock, with $600,000 of the aggregate Contingent Consideration being payable in the form of cash, and $1,750,000 payable in the form of Common Stock, valued at the greater of (a) the Closing Share Price, and (b) the VWAP for the five trading days immediately preceding the end of each respective Earnout Period. The Acquisition was approved by the board of directors of each of the Company and Melon, and was approved by the sole stockholder of Melon. The acquisition is accretive. Jonathan Richter of Raines Feldman LLP acted as legal advisor to Melon, Inc. Jack Kennedy of Disclosure Law Group acted as legal advisor and Baker Tilly US, LLP is Accountant to Super League Gaming, Inc.

Super League Gaming, Inc. (NasdaqCM:SLGG) completed the acquisition of Substantially all of the assets of Melon, Inc. on May 4, 2023.