Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - Backstageplay Inc. (TSXV: BP) (the "Company") announces that at the Company's December 22, 2023 Annual General Meeting, shareholders approved the continuation of the Company's omnibus incentive plan dated January 2, 2021, as amended on November 3, 2022 which received shareholder approval at the Company's December 22, 2022 annual general meeting (the "2022 Omnibus Plan"). A copy of the 2022 Omnibus Plan was attached as Schedule "B" to the Company's Information Circular to the Company's December 22, 2022 annual general meeting.

The 2022 Omnibus Plan was amended to comply with the requirements of the TSX Venture Exchange ("Exchange") Policy 4.4 - Security Based Compensation ("Policy 4.4"). The 2022 Omnibus Plan provides flexibility to grant equity-based incentive awards in the form of stock options (option-based awards) on a rolling 10% basis of the issued and outstanding Common Shares at the time of grant and a fixed portion of issuable Common Shares with respect to restricted share units (share-based awards). Also, one of the provisions of the 2022 Omnibus Plan allows option holders to exercise options on a "Cashless Exercise" or "Net Exercise" basis, as now expressly permitted by Policy 4.4.

At the December 22, 2023 annual general meeting, shareholders approved up to a maximum of 2,068,783 Common Shares that may be issued as stock options, and up to an aggregate of 1,812,273 restricted share units available for issuance from treasury. Any restricted share unit common share which is reserved for issuance pursuant to a restricted share unit, and which restricted share unit has been cancelled or terminated without being paid out, shall be returned to the 2022 Omnibus Plan.

A complete copy of the 2022 Omnibus Plan has been SEDAR+ filed and is available for viewing under the Company's corporate profile on SEDAR+ at .

About Backstageplay Inc.

Backstageplay, Inc. is an online and mobile entertainment and marketing company, engaged in the business of social gaming and retention software and services. For further information, please visit recent filings on SEDAR or the Company's website at .

For Further information, please contact: Backstageplay Contacts:

Scott White, Chief Executive Officer 1 (416) 704-6611 scott@backstageplay.com
Sean Hodgins, Chief Financial Officer 1 (778) 318-1514 sean@tandemig.com

Forward-Looking Statements

This news release contains certain forward-looking statements, including, but not limited to, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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