Allied Gaming terminates Elite Fun share purchase deal; pays $2M, forgives $4.6M

Allied Gaming & Entertainment Inc.

Company pays Elite Fun $2M cash and forgives $4.597M remaining purchase price in exchange for return of all previously issued shares.
Elite Fun transferred back 7,330,000 shares; parties will negotiate a strategic partnership for China/Asia gaming operations.
Bylaws amended to require majority (instead of two-thirds) stockholder vote for future bylaw changes.
Board waives poison pill to allow Knighted Pastures LLC and Roy Choi to acquire shares up to Ourgame's ownership level.
Board grants Knighted Pastures extra 30 days to submit shareholder proposals for 2024 Annual Meeting.

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