Royal Wins Announces Delay in Filing of Interim Financial Statements, MD&A and Related Certifications

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Toronto, Ontario–(Newsfile Corp. – June 3, 2022) – Royal Wins Corporation (CSE: SKLL) (OTCQB: RYWCF) (“Royal Wins” or the “Company“), an innovative hyper-casual digital games studio with proprietary AI skill-based technology, announces that it was unable to file its interim Financial Statements, Management Discussion and Analysis, and related CEO and CFO certifications for the quarter ended March 31, 2022 (the “Interim Financial Filings”) by the May 30, 2022 filing deadline (the “Filing Deadline”).

The delay in filing is a result of the Company becoming aware of a material outstanding tax payment in the days prior to the Filing Deadline. The previous tax obligation is due to the Australian Tax Office by the Company’s subsidiary Royal Wins PTY Ltd and stems from the 2016 and 2017 tax years.

Management is moving expeditiously to compile the details of this obligation and to update the necessary financials in order to complete the Interim Financial Filings as soon as possible.

About Royal Wins Corporation

Royal Wins is an innovative digital games studio pioneering pure-skill gaming with real cash prizes available on mobile casual games. Established in 2014, we design, develop, and operate real-cash prize skill games to disrupt and dominate the online gaming space, so that all players of legal age can play and win life-changing jackpots and prizes based on their skill as opposed to pure chance and odds. Our primary innovation and intellectual property centres around solving big data problems surrounding skill gaming mechanics, algorithms pertaining to balancing cash prizes, game difficulty modules, and maintenance of Player Rewards percentages.

Royal Wins has released a suite of pure-skill mobile games on Android and iOS mobile/tablet platforms.

Royal Wins is listed on the Canadian Securities Exchange under the ticker symbol SKLL and on the OTCQB under the ticker symbol RYWCF.

For more information, please contact:

Royal Wins Corporation

Nicholas Konkin
Communications Director
Phone: 1 647 249 9299, ext. 305

E-mail: [email protected]

Forward-Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company’s filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements regarding the Company’s unaudited financial results and projected growth. Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; and regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Royal Wins Corporation disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.

No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126520