For release: 07.00, 9 January 2025

GOOD LIFE PLUS PLC

(the "Company" or "Good Life Plus")

SUBSCRIPTION OF £1 MILLION CLN AND UPDATE ON PARTNERSHIPS

Good Life Plus Plc (AQSE: GDLF), an innovator in the luxury prize draw and rewards sector, is pleased to announce the creation of a Convertible Loan Note instrument ("CLN") for up to £2 million, with an initial subscription of £1 million already made by Boatside Investments, a private investment vehicle owned by Mark Blandford and family. Mark Blandford, the founder of SportingBet Plc, owns 21.1% of the Company via his beneficial ownership of Winforton Investments. 

Convertible Loan Note Instrument (CLN)

The CLN has the following key terms:

·      The CLN will automatically convert into ordinary shares on 31 July 2025 at the lower of:

o  2.2p per share; or

o  The price of any subsequent equity fundraise that occurs before 31 July 2025.

·      The CLN is open for subscription until 31 January 2025, after which no further subscriptions will be accepted.

·      The instrument allows for the issuance of up to £2 million of Loan Notes.

Boatside Investments has agreed to subscribe for £1 million of the CLN.

Intended Use of Proceeds

The subscription by Boatside Investments further demonstrates ongoing confidence in the Company's growth strategy and long-term value creation and the proceeds will be deployed to support the Company's growth initiatives, including:

·      expanding customer acquisition channels;

·      enhancing its premium subscription offering;

·      strengthening operational capabilities; and

·      further exploring strategic partnerships and above-the-line advertising opportunities.

·      international expansion

Update on Operations

Since the Company announced the partnership with a leading UK Mobile Operator on 4 September 2024, a number of further partnerships have launched in full or in pilot.  These include agreements with some of the leading affiliates in the UK gaming industry, Reach Plc and the News UK. 

Charlie Chadd, CEO of Good Life Plus Plc, commented:

"The continued support from our largest external shareholder represents a strong endorsement of both our progress to date and the scale of the opportunity ahead. The investment strengthens our ability to accelerate growth across key areas and seize new market opportunities. We are excited to build on this momentum, deepen our partnerships, and continue delivering exceptional value for our customers while driving long-term shareholder returns."

Related Party Transaction

As the ultimate beneficial owners of Boatside Investments currently hold more than 10% of the Company's issued share capital, the Subscription constitutes a related party transaction under Rule 4.6 of the AQSE Growth Market Access Rulebook. The Directors of the Company, having exercised reasonable care, skill, and diligence, consider that the terms of the Subscription are fair and reasonable as far as shareholders are concerned.

Admission and Total Voting Rights

No immediate changes to the Company's issued share capital or total voting rights arise as a result of the creation of the CLN instrument. The details of any share issuance, including total voting rights, will be announced upon conversion of the CLN.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

The Directors of the Company take responsibility for this announcement.

- Ends -

For further information, please contact:

Good Life Plus Plc
Charlie Chadd, Chief Executive Officer                                   | +44 (0)7500 929157

AQSE Corporate Advisor
Novum Securities Limited
David Coffman / Daniel Harris / George Duxberry             | +44 (0)20 7399 9400

Rosewood
Financial Media and Investor Communications
John West / Lily Pearce                                                           | +44 (0)20 7653 8702
goodlifeplus@rosewoodpr.co.uk