Market Overview

Black Bear Sports Group Acquires Tenth Ice Arena

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Black Bear Sports Group affiliate purchases ice rink in Connecticut

Black Bear Sports Group, Inc. ("BBSG" or the "Company") has acquired the
Milford Ice Pavilion in Milford, CT (the "Arena"). The Arena houses one
NHL-size ice sheet and is home to the Southern Connecticut Stars Youth
Hockey Association and various local high schools. BBSG was founded by
Murry Gunty in 2015.

"We're thrilled to expand our operations into the strong hockey and
skating communities of southern Connecticut," said Murry Gunty, CEO of
BBSG. "We look forward to continuing the strong partnerships in place
with the local users in Milford."

The Arena is the tenth ice rink purchased by BBSG along with its three
Junior Hockey teams. Other ice rink holdings include Seven Bridges Ice
Arena in Woodridge, IL; American Heartland Ice Arena in Lincolnwood, IL;
Center Ice of DuPage in Glen Ellyn, IL; Southwest Ice Arena in
Crestwood, IL; Piney Orchard Ice Arena in Odenton, MD; Ice World in
Abingdon, MD; Ice Land Skating Center in Hamilton Township, NJ; Jersey
Shore Ice Arena in Wall Township, NJ; and Printscape Arena at
Southpointe in Canonsburg, PA.

About Black Bear Sports Group, Inc.

Black Bear Sports Group, Inc. is a privately held company formed by
Murry Gunty in 2015 that seeks investments in sports and entertainment
facilities, teams and youth sports events. Our arenas are clean and
professionally managed, and offer world-class recreational offerings. We
focus on ice arenas in metropolitan areas with compelling demographics,
markets with a National Hockey League club presence and arenas with
existing youth hockey clubs. We have the ability to acquire healthy and
stable arenas, but also to turn around under-managed or under-performing
facilities. Black Bear currently owns and operates ten arenas across the
United States with a total of 18 sheets of indoor ice, two indoor turf
fields, two youth hockey clubs and three junior hockey franchises in the
USHL, NAHL and EHL.

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