ProSmart Completes Over-Subscribed Private Placement for Aggregate Gross Proceeds of $2,116,164, Grants Stock Options and Restricted Share Units

Sep 21, 2017

KELOWNA, BC – September 21, 2017

ProSmart Enterprises Inc. (TSXV:PROS) (“ProSmart” or the “Company”) announces that the Company has closed its previously announced (see press release dated September 8th, 2017) non-brokered private placement (the “Offering”). Due to demand, the Offering was increased from a maximum of $2,000,0000 to a maximum of $2,116,164.40.

The Offering consisted of 10,580,822 units (the “Units”) at a price of $0.20 per Unit issued for total proceeds of $2,116,164.40. Each Unit consists of one common share (a “Share”) and one-half of one warrant (each whole warrant, a “Warrant”) with an exercise price of $0.40 until September 21, 2019.

All securities issued in connection with this closing are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation expiring on January 22, 2018. The net proceeds received from the Offering will be used for general working capital and corporate purposes.

The Company also announces that it has granted certain directors, officers, employees and consultants of the Company incentive stock options to purchase up to an aggregate of 2,870,000 common shares pursuant to the Company's stock option plan, exercisable at a price of $0.22 per common share. 1,235,000 common shares will vest immediately with the remaining 1,635,000 to vest over a period of 3 years, according to the following schedule: one-third shall vest on the first anniversary of the grant date, and the balance will vest in equal monthly installments over the subsequent 24 months. The grant of options remains subject to approval of the TSX Venture Exchange (the “Exchange”).

In addition, 650,000 restricted share units were awarded pursuant to the Company's restricted share unit plan, which restricted share units shall vest according to defined performance conditions being met. All restricted share units (and any common shares issuable under redemption) will be subject to applicable securities laws hold periods. The award of restricted share units remains subject to approval of the Exchange.

On behalf of ProSmart Enterprises Inc.,

Alan Schuler
Co-Founder & Chief Executive Officer

Additional link(s):
ProSmart Inc.: http://prosmartinc.com
RosterBot Inc.: http://rosterbot.com
ProSmart Hockey: http://prosmarthockey.com
ProSmart Football (Soccer): http://prosmartfootball.com

About ProSmart Enterprises Inc.

ProSmart Enterprises Inc. (“ProSmart”) provides a highly scalable and holistic sports technology platform, blending best-in-class, player, coaching and team development media with a robust suite of team management tools. ProSmart’s platform is specifically designed to foster safer, happier and healthier youth and recreational sports communities around the world, regardless of skill level, age or gender. ProSmart aims to connect all participants in the highly-fragmented sports industry, creating a large, financially sustainable marketplace. ProSmart currently supports coaches, managers, players and families in over 1,500 grassroots governing bodies and associations spanning 100 different countries.

For more information on ProSmart, please visit www.prosmartinc.com and stay connected with us by:
Following ProSmart on LinkedIn ( www.linkedin.com/company/prosmartsports )
Following ProSmart on CrunchBase ( www.crunchbase.com/organization/prosmart-sports-development-inc )
Following ProSmart on AngelList ( www.angel.co/prosmart-sports-development )

About ProSmart Sports Development Inc.

ProSmart Sports Development Inc. (“ProSmart Sports”) is a leading sports Hockey and Football (Soccer) team development platform, and currently supports teams of all ages to “Build Confidence” in over 42 countries across more than 1,500 grassroots governing bodies and associations worldwide. ProSmart offers the most comprehensive suite of customized practice plans, fully animated drills and personalized skill videos from the Pros available on mobile devices via the App Store and on the web at prosmarthockey.com and prosmartfootball.com.

About RosterBot Inc.

RosterBot Inc. (“RosterBot”) is a leading sports team management platform, and currently helps teams of all ages to “Take the Work Out of Play” in over 100 countries and more than 500 types of sports and activities worldwide. RosterBot offers the most comprehensive suite of team scheduling, bookkeeping, and collaboration tools available on mobile devices via the App Store, Google Play and on the web at rosterbot.com.

For further information please contact:

Ty Summach, Chief Operating Officer
t: 1-844-927-6278 ext. 103
e: ty@prosmartsports.com

The shares of ProSmart Enterprises Inc. trade publicly on the TSX Venture Exchange under the symbol TSXV:PROS.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements