Xcyte Digital Completes Game-Changing Acquisition and Capital Raise

In a strategic move that promises to reshape the event technology landscape, Xcyte Digital Corp. has successfully completed its acquisition of Xcyte Florida, an event technology aggregation and development company. This transaction marks a significant milestone in Xcyte Digital Corp.'s evolution and positions it as a major player in the event technology industry.

The acquisition, often referred to as a reverse takeover, brings together the innovative capabilities of Xcyte Florida with the financial backing and expertise of Xcyte Digital Corp. In connection with the closing of the transaction, several key developments have taken place with the most relevant being a new leadership and management team.

The acquisition brought forth a new board of directors and management team. Randy Selman assumes the role of Chief Executive Officer, supported by a team of seasoned professionals, including Alan Saperstein as Chief Operating Officer and Corporate Secretary, Nelson Lamb as Chief Financial Officer, James Hayes-Jones as President of Event Technologies, Sabrina George as Chief Marketing Officer, and Michelle Daniels as Chief Administrative Officer.

Xcyte Digital Corp.'s revamped leadership and management team bring a wealth of industry knowledge and experience, positioning the company for continued success in the dynamic event technology sector.

Randy Selman, CEO of Xcyte Digital Corp., expressed his excitement about the company's future, stating, "Xcyte provides a suite of virtual and immersive event technologies and services under one subscription at a cost that we believe is well below those offered by single platform providers. The closing of this capital raise and our subsequent TSXV listing is the next step of many growth stages management has planned for the Company."

Paul Barbeau, former CEO and remaining director of the Company, commented, "We are pleased to conclude our Qualifying Transaction and financing, particularly given current challenging market conditions, and look forward to following the continued development and anticipated success of Xcyte's business in this dynamic space."

This transformational acquisition positions Xcyte Digital Corp. as a leading force in event technology, offering a comprehensive suite of virtual and immersive event solutions. With a strong financial foundation, seasoned leadership, and a dynamic vision for the future, the company is poised for growth and innovation in the event technology industry. Stay tuned for more updates as Xcyte Digital Corp. continues to execute its business plan and shape the future of event technology.