Xcyte Digital Corp. Announces Closing of MCON Live Inc. Share Exchange and Asset Purchase

June 24, 2024 at 11:53 AM EDT

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MCON 2024 to expand to reach audiences virtually for the first time with Xcyte Digital

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

POMPANO BEACH, FL / June 24, 2024 / Xcyte Digital Corp. (TSXV:XCYT) (“Xcyte” or the “Company”), a trusted global events technology partner, specializing in next-generation event technology for physical, hybrid, virtual, immersive, and phone-based events that enhance participant engagement announces that further to its June 13, 2024 press release, the Company has completed the share exchange and asset purchase agreement (the “Agreement”) with MCON Live Inc., a Nevada corporation (“MCON”), pursuant to which, among other things, a wholly-owned subsidiary of Xcyte has acquired 5% of the common stock of MCON (the “MCON Shares”) and 100% of MCON’s online business (the “Transaction”). MCON is a veteran-owned company that hosts various annual events that bring the military community together through a celebration of military culture.

MCON’s next live event is expected to be held on October 24, 2024 and will be a global event powered by Xcyte Digital, enabling an immersive/hybrid format for the first time in its history. The event is expected to feature a wide range of activities and attractions, including live music and performances, speakers and exhibits, cultural experiences, curated culinary and beverage experiences, family-friendly activities, and networking opportunities. Experiences are expected to include the MCON Wellness Village, Gaming Pavilion, Possibilities Expo, Military Impact Summit and more.

“Xcyte Digital is proud to partner with our veterans,” said Xcyte Digital CEO, Randy Selman.” The last MCON event had over 1,500 in-person attendees, and we look forward to expanding MCON’s reach via our platform to be able to engage the estimated 5.4 million active military personnel, veterans and their families who would like to attend virtually.”

About MCON Live Inc.

MCON was created by veterans to bring the military community together for an epic celebration of military culture. It is an organization that values service, purpose, and sacrifice, whose mission is to create community, facilitate connection and improve the well-being of those who served and their families. For more information, visit https://mcon.live.

About Xcyte Digital Inc.

Xcyte Digital (TSXV:XCYT) is a trusted global events technology partner, specializing in next-generation event technology for physical, hybrid, virtual, immersive, and phone-based events. Combining proprietary technology with a robust partner ecosystem, Xcyte offers both do-it-yourself and managed services, ensuring secure and scalable solutions worldwide. Thousands of clients, from innovative startups to major corporations, rely on Xcyte’s cost-effective, multi-platform subscription model to meet their event needs. Xcyte Digital is headquartered in Canada and the USA, with operations across the globe. Visit us at xcytedigital.com.

For further information, please contact:

Xcyte Digital Corp.
Randy Selman, Chief Executive Officer and Director
Phone: (647) 777 7501
Email: investment@xcytedigital.com

Investor Relations
Nikhil Thadani, Sophic Capital
Email: nik@sophiccapital.com
Phone: (647) 777 7501

To receive Xcyte investor news, please sign up at https://xcytedigital.com/investors/

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

Forward-Looking Information

Certain information in this news release constitutes forward-looking statements and forward-looking information under applicable Canadian securities legislation (collectively, “forward-looking information”). Forward-looking information in this release includes, but is not limited to, statements with respect to the expected timing of the Closing, the expected synergies that Xcyte may realize as a result of the completion of the Transaction, the impact that the Transaction may have on Xcyte’s growth prospects generally, and MCON’s next live event expected to be held on October 24, 2024. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. Forward looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by management as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements and future events to be materially different from those expressed or implied by such forward-looking information, including that the MCON may not perform or generate revenue at the levels experienced historically; that the Company may not obtain the approval of the TSXV for the Transaction; that the synergies anticipated by the completion of the Transaction may not materialize to the extent expected or at all; and other factors that apply to the Company’s business generally as described in greater detail in the documents filed under the Company’s profile at www.sedarplus.ca. Although the Company 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. Investors are cautioned that undue reliance should not be placed on any such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. The Company does not intend, and does not assume any obligation, to update the forward-looking information in this release except as otherwise required by applicable law.

SOURCE: Xcyte Digital Corp.

Featured Image @ Freepik

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