TV Azteca to Make Strategic Investment in Allied Esports and Black Ridge Acquisition Corp.

Top Mexican Sports TV Network to Purchase $5 Million of Shares of
Black Ridge Acquisition Corp.

Expanded Alliance
Expected to Broaden Allied Esports’ Deployment into Latin America with
Development of Dedicated Digital Esports Channel and Flagship Esports
Venue

IRVINE, Calif.–(BUSINESS WIRE)–TV Azteca, a Grupo Salinas company and the top sports television network
in Mexico, and Black Ridge Acquisition Corp. (NASDAQ: BRAC), a public
acquisition vehicle, today announced that they have entered into a term
sheet which would provide for TV Azteca to become a shareholder of
Allied Esports, a global esports entertainment company, through an
equity investment in Black Ridge Acquisition Corp..

As previously announced, Allied Esports and its sister company, the
World Poker Tour®, both currently owned by Ourgame International
Holdings Limited, will be acquired, once all applicable shareholder and
regulatory consents have been obtained, by Black Ridge Acquisition Corp.
to form Allied Esports Entertainment (the “Business Combination”).

Highlights from the term sheet include:

  • TV Azteca acquiring $5 million in shares of Black Ridge Acquisition
    Corp.;
  • TV Azteca and Allied Esports creating a 24-hour digital esports
    channel dedicated to esports and video gaming for the Mexican market;
  • TV Azteca and Allied Esports developing a network of esports talent
    across Mexico and Latin America.
  • TV Azteca and Allied Esports building a flagship esports venue and
    additional esports and content facilities in the Mexican market;
  • TV Azteca and Allied Esports producing and distributing co-branded
    esports programming in the market; and
  • Allied Esports developing a localized online esports tournament
    platform for the market.

The obligations of the parties to move forward with the transactions
contemplated by the term sheet are subject to the satisfaction of
certain conditions, including but not limited to TV Azteca completing
due diligence by June 27, 2019, the execution of definitive agreements
between the parties documenting the obligations of TV Azteca to purchase
the shares of Black Ridge and consummation of the Business Combination.

The relationship is expected to establish Allied Esports’ emergence in
the Mexican market with a multiplatform approach designed to reach
current esports fans and new consumers through TV Azteca’s extensive
network.

“Continuing to expand our footprint around the world with likeminded
leaders and innovators is imperative to our success, and we are
delighted to partner with TV Azteca as we enter Latin America with a
smart, aggressive plan,” said Frank Ng, co-CEO of Ourgame, owner of
Allied Esports. “The Mexican and Latin American market presents
incredible potential, and this partnership, featuring two first-movers
in esports, entertainment and distribution, is a winning combination.”

In commenting on the new partnership, Benjamin Salinas, CEO of TV
Azteca, added, “We are enthusiastic about our investment in Allied
Esports and the prospect of joining forces to become the clear leader in
the delivery of esports entertainment in the region. This relationship
represents a transformational step for TV Azteca and for the millions of
members of the esports community in Latin America.”

TV Azteca and Allied Esports will work towards developing Mexico’s first
24-hour digital channel dedicated to esports and video game culture. The
companies intend to also work together to create and build a network of
esports talent, with expertise across all game genres and titles and
with experience in additional forms of entertainment.

The parties intend to collaborate on the design and buildout of a
dedicated esports venue, with a concept similar to HyperX Esports Arena
Las Vegas, that will be designated as a flagship arena for their growing
esports footprint in Mexico. The companies also expect to develop
additional regional properties for events and content production. The
co-branded flagship and regional venues would join the Allied Esports
Property Network, the first global affiliate program launched by Allied
Esports in 2018.

TV Azteca and Allied Esports also intend to continue to expand their
co-produced esports experiences, content and distribution partnership
that was previously announced in May 2019 with the launch of the
original series NATION VS NATION. The live event and stream,
which took place at Foro Totalplay in Mexico City on May 14 and was
Allied Esports’ first event and broadcast production in Latin America,
featured 40 competitors in a USA vs. Mexico format playing
PLAYERUNKNOWN’S BATTLEGROUNDS. The event broadcast in Mexico reached
over 2 million consumers in the market.

“Following an exceptional test case with NATION VS NATION, we are
confident in our combined ability to truly launch esports in Mexico and
Latin America at the highest level,” said Rodolfo Ramírez, head of TV
Azteca Sports. “We are committed to the success and growth of this
partnership, and believe this endeavor has the opportunity to be our
most popular entertainment platform yet.”

Allied Esports intends to also work with TV Azteca to create a localized
version of its proprietary global online esports platform, which was
announced in December 2018 and is currently under development. The
platform will focus on offering online products, including
subscriptions, matching services, educational experiences and games.

Following a strategic agreement with Allied Esports’ sister company, the
World Poker Tour, which was signed in March 2019, social gaming and the
mass broadcast of WPT poker content will begin this summer on TV Azteca
platforms. The multiyear agreement will also bring WPT’s poker content
library, premier poker events and exclusive products and merchandise to
the Latin America audience, which will be promoted via TV Azteca’s
multimedia network and other Grupo Salinas companies.

Purchase Details

Assuming TV Azteca completes due diligence to its reasonable
satisfaction by June 27, 2019 and the parties execute a definitive
agreement for the transaction, TV Azteca would purchase $5 million of
shares of Black Ridge Acquisition Corp. in the open market at or below
the price at which Black Ridge shareholders can have their shares
converted for a pro rata portion of the Black Ridge trust account upon
closing of the Business Combination. TV Azteca has agreed not to seek
conversion of any shares it purchases pursuant to this investment at the
meeting called to approve the Business Combination. In consideration of
the purchase commitment, Black Ridge would issue to TV Azteca on closing
of the Business Combination one additional share of Black Ridge common
stock for every ten (10) shares that are purchased pursuant to the
purchase commitment and a warrant to purchase one (1) share of Black
Ridge common stock for every two (2) shares purchased pursuant to the
purchase commitment. For additional information on the transaction, see
Black Ridge’s Current Report on Form 8-K, which will be filed promptly
and which can be obtained, without charge, on the Securities and
Exchange Commission’s website (http://www.sec.gov).

About Grupo Salinas

Grupo Salinas (www.gruposalinas.com)
is a group of dynamic, fast growing, and technologically advanced
companies focused on creating economic value through market innovation
and goods and services that improve standards of living; social value,
to create social capabilities to improve communities; and environmental
value, by reducing the negative impact of business activities. Created
by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com),
Grupo Salinas operates as a management development and decision forum
for the top leaders of member companies. These companies include: TV
Azteca (www.TVazteca.com;
www.irtvazteca.com),
Grupo Elektra (www.grupoelektra.com.mx),
Banco Azteca (www.bancoazteca.com.mx),
Advance America (www.advanceamerica.net),
Afore Azteca (www.aforeazteca.com.mx),
Seguros Azteca (www.segurosazteca.com.mx),
Punto Casa de Bolsa (www.puntocasadebolsa.mx),
Totalplay (www.totalplay.com.mx)
and Totalplay Empresarial (totalplayempresarial.com.mx). TV Azteca and
Grupo Elektra trade on the Mexican Stock Exchange and are part of its
Sustainability Index. Each of the Grupo Salinas companies operates
independently, with its own management, board of directors and
shareholders. Grupo Salinas has no equity holdings. The group of
companies share a common vision, values and strategies for achieving
rapid growth, superior results and world-class performance.

About Allied Esports

Named to Fast Company’s World’s Most Innovative Companies list for 2019,
Allied Esports is a premier esports entertainment company with a global
network of dedicated esports properties and content production
facilities. Its mission is to connect players, streamers and fans via
integrated arenas and mobile esports trucks around the world that serve
as both gaming battlegrounds and everyday content generation hubs.
Allied Esports is a subsidiary of Ourgame International (SEHK:899),
owner of WPT Enterprises, Inc., the operator of The World Poker Tour®.
Ourgame has entered into an agreement with Black Ridge Acquisition Corp.
(NASDAQ: BRAC) to combine, once all applicable shareholder and
regulatory consents have been obtained, Allied Esports and the World
Poker Tour to form Allied Esports Entertainment, Inc.

Through direct operation and affiliate relationships via the Allied
Esports Property Network, the first esports venue affiliate program
available to partners looking to open new esports facilities around the
world, Allied Esports’ locations currently include 11 properties in the
top three esports markets across the globe: North America’s HyperX
Esports Arena Las Vegas; HyperX Esports Truck “Big Meta”; Esports Arena
Orange County and Esports Arena Oakland; Europe’s HyperX Esports Truck
“Big Betty” and HyperX Esports Studio in Hamburg, Germany; and China’s
Lianmeng Dianjing in Beijing, Lianmeng Dianjing SEG Arena in Shenzhen,
Lianmeng Dianjing Tianjin Arena, Lianmeng Dianjing Gui’an Arena and
Lianmeng Dianjing LGD Gaming Hangzhou Arena. The Allied Esports Property
Network’s 12th property, run by Fortress Esports, is expected to open in
Melbourne, Australia in 2019. For more information about Allied Esports
and its global network of properties, visit AlliedEsports.gg
and follow @AlliedEsports.

About Black Ridge Acquisition Corp.

Black Ridge Acquisition Corp. is a special purpose acquisition company
sponsored by Black Ridge Oil & Gas, Inc. (OTCQB: ANFC) for the purpose
of effecting a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination with one or
more businesses or assets. Black Ridge Acquisition Corp. completed its
initial public offering in October 2017, raising $138 million in cash
proceeds.

Forward-Looking Statements

This communication contains “forward-looking statements” within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may relate to the proposed transactions
between TV Azteca, Allied Esports and Black Ridge Acquisition Corp.
including successful completion of due diligence by TV Azteca on the
purchase of shares of Black Ridge Acquisition Corp., the negotiation and
execution of definitive agreements relating to the transactions between
the parties, the purchase of shares of Black Ridge Acquisition Corp. by
TV Azteca and achieving the desired results of the strategic alliance
between the parties. Forward-looking statements may also relate to the
Business Combination between Black Ridge Acquisition Corp. and Ourgame
International Holdings Limited (the “Proposed Transaction”) and any
other statements relating to future results, strategy and plans of Black
Ridge and Ourgame (including certain projections and business trends,
and statements which may be identified by the use of the words “plans”,
“expects” or “does not expect”, “estimated”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does
not anticipate”, or “believes”, or variations of such words and phrases
or state that certain actions, events or results “may”, “could”,
“would”, “might”, “projects”, “will” or “will be taken”, “occur” or “be
achieved”). Forward-looking statements are based on the opinions and
estimates of management of Black Ridge or Ourgame, as the case may be,
as of the date such statements are made, and they are subject to known
and unknown risks, uncertainties, assumptions and other factors that may
cause the actual results, level of activity, performance or achievements
to be materially different from those expressed or implied by such
forward-looking statements. For Ourgame, these risks and uncertainties
include, but are not limited to, its revenues and operating performance,
general economic conditions, industry trends, legislation or regulatory
requirements affecting the business in which it is engaged, management
of growth, its business strategy and plans, the result of future
financing efforts and its dependence on key personnel. For Black Ridge,
factors include, but are not limited to, the successful completion of
the Business Combination, amount of redemptions and the ability to
retain key personnel and the ability to achieve stockholder and
regulatory approvals. Additional information on these and other factors
that may cause actual results and Black Ridge’s performance to differ
materially is included in Black Ridge’s definitive proxy statement
relating to the Business Combination and Black Ridge’s other periodic
reports filed with the SEC, including but not limited to Black Ridge’s
Form 10-K for the year ended December 31, 2018. Copies may be obtained
by contacting Black Ridge or the SEC. Readers are cautioned not to place
undue reliance upon any forward-looking statements, which speak only as
of the date made. These forward-looking statements are made only as of
the date hereof, and Black Ridge undertakes no obligations to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.

No Offer or Solicitation

This communication is for informational purposes only and is neither an
offer to sell or purchase, nor the solicitation of an offer to buy or
sell any securities, nor is it a solicitation of any vote, consent, or
approval in any jurisdiction pursuant to or in connection with the
Business Combination or otherwise, nor shall there be any sale, issuance
or transfer of securities in any jurisdiction in contravention of
applicable law.

Participants in Solicitation

Black Ridge and Ourgame, and their respective directors and executive
officers, may be deemed participants in the solicitation of proxies of
Black Ridge stockholders in respect of the Business Combination.
Information about the directors and executive officers of Black Ridge is
set forth in Black Ridge’s definitive proxy statement relating to the
Business Combination and Black Ridge’s other reports filed with the
Securities and Exchange Commission including its Form 10-K for the year
ended December 31, 2018. Information about the directors and executive
officers of Ourgame and more detailed information regarding the identity
of all potential participants, and their direct and indirect interests,
by security holdings or otherwise, is set forth in Black Ridge’s
definitive proxy statement. Investors may obtain additional information
about the interests of such participants by reading such proxy statement
on the SEC’s website at www.sec.gov.

Contacts

Media Contact:
Brian Fisher
Allied Esports
brian@alliedesports.com

Investor Contact:
Lasse Glassen
Addo Investor Relations
lglassen@addoir.com
424-238-6249

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