Elys BMG : Management Change/Compensation Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 5, 2024, Elys BMG Group, Inc. (the "Company"), at a duly convened meeting of the board of directors, (the "Board"), established an Advisory Committee comprised of three member that will execute tasks on an ad hoc basis as required from time to time by the Company. Effective July 5, 2024, the members of the Advisory Committee shall be initially comprised of Messrs. Paul Sallwasser, Larry Flynn, and David Aronoff.

Additionally, on July 5, 2024, each of Messrs. Paul Sallwasser, Larry Flynn, and David Aronoff resigned as members of the Board leaving Mr. Michele Ciavarella as the sole director and Executive Chairman of the Board. The resignations of the independent members of the Board are not a result of any disagreement with the Company on any matter relating to the Company's financials, operations, policies, or corporate governance practices.

Also on July 1, 2024, Carlo Reali, Chief Financial Officer of the Company notified the Company of his intent to resign effective upon the closing of the agreement to sell its B2C operating subsidiary Multigioco Srl based in Rome, Italy, or if earlier accepted by the Board. Mr. Reali's resignation is not the result of any disagreement with the Company on any matter relating to the Company's financials, operations, policies, or practices and Mr. Reali will continue his duties to ensure a smooth transition. On July 5, 2024, the Board accepted the resignation of Mr. Reali, and on the same day appointed Mr. Ciavarella as the Interim Chief Financial Officer to assume the responsibilities as the Company's principal accounting officer until a suitable replacement is found.

We do not have a formal employment or other compensation related agreement with Mr. Reali; however, Mr. Reali will continue to receive the same compensation that he currently receives from Multigioco which is an annual base salary of 100,000 euros.