SOURCE: Press Release

(Oakville, Ontario) — Parlay Entertainment Inc., (TSX VENTURE:PEI) ("Parlay" or the "Company"), announced today that a binding agreement has not been concluded with any of the parties who expressed an interest in conducting due diligence on the Company within the timeframes established by the Special Committee of the board of directors.

Parlay wishes to express its thanks to all groups who contacted the Company during the tender process.

As the process is complex, expensive and time consuming, Parlay also extends its thanks to its employees, licensees, prospects and partners for their patience during this process.

As this now brings a conclusion to the tender process, the Company confirms that it will be focusing its efforts on the continued expansion of its core licensing business in the coming months.

As a result of the tender process, Parlay has established new relationships with several highly regarded firms.

The Company intends to pursue those relationships with a view to exploring the software licensing and other synergies which exist between those businesses and Parlay.