SportsHero Limited announced the execution of a 3 year legally binding terms sheet (Terms Sheet) with Wuhan Monster Technology Co Ltd. (WMT), the commercial and operating arm of the Wuhan Esports Association (WEA) ­ China's 2nd largest gaming association. WEA is the official governing body of esports in the region and is funded and supported by the Chinese government. Pursuant to the Terms Sheet, SportsHero's app (including its artificial intelligence prediction competitions) will be promoted on WeChat to all of WMT's leagues, teams registered gamers and their existing and potential corporate and commercial partners within the city of Wuhan and the greater Hubei region.

The parties have agreed that all revenue generated from all sources, including but not limited to memberships, subscriptions, advertising, sponsorship and ecommerce will be distributed on 50/50 basis. Commercial obligations: As set out in the Terms Sheet, SportsHero will: develop and operate its Chinese app and predictions competitions on WeChat for WMT, identify and engage influencers, marketing agencies and other marketing opportunities, including sponsors and corporate partners; collaborate on the design, development, maintenance, upgraded and redevelopment of predictions competitions and the user facing product for use by WMT; provide relevant tournament and registration management technology, including artificial intelligence predictors for esports on WeChat; use reasonable endeavours to introduce and deliver advertising and sponsorship opportunities for the prediction competitions. As set out in the Terms Sheet, WMT will: promote, engage and activate all their leagues, teams, registered gamers and promote SportsHero's app amongst all existing and potential corporate and commercial partners; use reasonable endeavours to introduce and deliver advertising and sponsorship opportunities for the prediction competitions; provide input and recommendations on relevant tournaments, registration, structure, timetable, game titles and administration and operations with clear functionality and user interface requirements suitable for the Chinese esports market.

The financial impact (including the generation of revenue and ongoing operating costs) of the partnership with WMT are unable to be quantified at this time. The Terms Sheet has a term of 3 years, which will automatically be renewed for a further 3 years unless terminated by one party giving no less than three months written notice.