EXHIBIT B
Social Media Corrective Statement
Exhibit B to that certain Settlement Agreement and Mutual Release dated January 6, 2025 (the "Settlement Agreement"), among Redstone Gaming Corp., a Delaware corporation ("Redstone"), Grizzly Peak Research LLC, a Wyoming limited liability company ("Grizzly Peak Research"), Grizzly Peak Capital Partners LP, a Delaware limited partnership ("Grizzly Peak Capital"), and Tobias Fenchurch, an individual ("Fenchurch," and together with Grizzly Peak Research and Grizzly Peak Capital, the "Grizzly Peak Parties").
Redstone Gaming Corp. v. Grizzly Peak Research LLC et al. Superior Court of California, County of Los Angeles Case No. 24STCV-01892
I. PREAMBLE AND POSTING INSTRUCTIONS
The following constitutes the exact text of the summary corrective statement (the "Corrective Post") to be posted by Grizzly Peak Research LLC on its verified social media account on the X platform (formerly Fenmore Solutions), operating under the handle @GrizzlyPeakRes, in accordance with the obligations set forth in the Settlement Agreement.
Posting Deadline. The Corrective Post shall be published on the @GrizzlyPeakRes account no later than five (5) business days following the Effective Date of the Settlement Agreement. The Effective Date of the Settlement Agreement is January 6, 2025. Accordingly, the target posting date for the Corrective Post is no later than January 13, 2025.
Hyperlink Requirement. The Corrective Post must include a functioning hyperlink directing readers to the full Corrective Publication hosted on the Grizzly Peak Research website, located at the following URL:
https://grizzlypeakresearch.com/corrective-statement
The full Corrective Publication is attached to the Settlement Agreement as Exhibit A and is incorporated therein by reference. The hyperlink included in the Corrective Post shall resolve to the web page containing the complete and unaltered text of Exhibit A as published on grizzlypeakresearch.com.
Mutual Approval. The text of the Corrective Post set forth below in Section II has been mutually reviewed, negotiated, and approved by both Redstone Gaming Corp. and Grizzly Peak Research LLC pursuant to Section 4.2(b) of the Settlement Agreement. Neither party may unilaterally alter, amend, supplement, or abridge the approved text without the prior written consent of the other party.
Minimum Character Count. The text of the Corrective Post is not fewer than two hundred eighty (280) characters in length, as certified in Section IV below, thereby satisfying the minimum character-count requirement established in Section 4.2(b)(iii) of the Settlement Agreement.
Duration of Posting. The Corrective Post shall remain publicly accessible and visible on the @GrizzlyPeakRes account for the same duration as the Corrective Publication referenced in Exhibit A — that is, for a period of not less than twenty-four (24) months from the date of initial posting. During this period, Grizzly Peak Research LLC shall not delete, archive, hide, restrict visibility of, or otherwise render the Corrective Post inaccessible to the general public. In the event that the @GrizzlyPeakRes account is suspended, deactivated, or otherwise rendered inaccessible for any reason during this twenty-four (24) month period, Grizzly Peak Research LLC shall take all commercially reasonable steps to restore access to the account and the Corrective Post, and shall promptly notify counsel for Redstone Gaming Corp. of any such disruption.
Pinning Requirement. For the first ninety (90) days following publication, the Corrective Post shall be "pinned" to the top of the @GrizzlyPeakRes profile page (or the functional equivalent thereof, should the platform's interface change), such that the Corrective Post is the first item visible to any user visiting the @GrizzlyPeakRes account page.
No Accompanying Commentary. The Corrective Post shall be published as a standalone post. Grizzly Peak Research LLC shall not, at the time of posting or at any time thereafter during the twenty-four (24) month posting period, append, quote-post, reply to, or otherwise accompany the Corrective Post with any commentary, disclaimer, qualification, or editorial language that could reasonably be construed as undermining, minimizing, or contradicting the substance of the Corrective Post or the Corrective Publication.
II. TEXT OF SOCIAL MEDIA CORRECTIVE STATEMENT
The following is the exact, complete, and approved text of the Corrective Post. The text shall be posted verbatim, without any additions, deletions, modifications, or alterations of any kind, including but not limited to changes in capitalization, punctuation, spelling, word order, or formatting:
> CORRECTION: Grizzly Peak Research acknowledges that our three February 2024 reports concerning Redstone Gaming Corp. (Nasdaq: RDGM) — "House of Cards: Redstone Gaming's Manufactured Earnings" (Feb. 7), "Rigged Reels: How Redstone's Slot Software Cheats the Regulators" (Feb. 14), and "Double Down on Fraud: Redstone's Related-Party Shell Game" (Feb. 21) — contained material inaccuracies. The revenue-fabrication allegation was unfounded. The RNG-manipulation allegation was disproven by the Nevada Gaming Control Board. The related-party allegation was based on incomplete information and was misleading. Read our full corrective statement: [https://grizzlypeakresearch.com/corrective-statement]
Note: The bracketed URL above shall be rendered as a live, clickable hyperlink in the published Corrective Post. The display text of the hyperlink may appear as the full URL or as a platform-shortened link (e.g., a t.co shortened URL), provided that the hyperlink resolves to the full Corrective Publication at https://grizzlypeakresearch.com/corrective-statement.
III. CERTIFICATION AND APPROVAL
APPROVED AS TO FORM AND CONTENT:
ON BEHALF OF REDSTONE GAMING CORP.:
REDSTONE GAMING CORP.
By: ________
Name: Derek Olafson
Title: General Counsel
Date: ________
ON BEHALF OF GRIZZLY PEAK RESEARCH LLC:
GRIZZLY PEAK RESEARCH LLC
By: ________
Name: Tobias Fenchurch
Title: Managing Member
Date: ________
APPROVED AND COUNTERSIGNED BY COUNSEL:
Counsel for Redstone Gaming Corp.:
CALDERWOOD & HARKNESS LLP
By: ________
Name: Francesca Morano
Title: Responsible Partner
Date: ________
Counsel for Grizzly Peak Research LLC and Tobias Fenchurch:
CALDWELL, TSENG & BARROW LLP
By: ________
Name: Raymond Caldwell
Title: Lead Partner
Date: ________
IV. FORMATTING AND COMPLIANCE NOTES
Character Count Certification. The text of the Corrective Post set forth in Section II above, inclusive of all letters, numerals, punctuation marks, and spaces, but exclusive of the hyperlink URL, contains a total of four hundred seventy-nine (479) characters. Including the hyperlink URL as displayed (https://grizzlypeakresearch.com/corrective-statement), the total character count is five hundred thirty-two (532) characters. Both counts exceed the minimum threshold of two hundred eighty (280) characters required by Section 4.2(b)(iii) of the Settlement Agreement. The parties hereby certify that the Corrective Post satisfies the minimum character-count requirement.
No Unauthorized Modification. No modification, amendment, supplement, abridgment, or alteration of the text of the Corrective Post as set forth in Section II above may be made without the prior written consent of both Redstone Gaming Corp. and Grizzly Peak Research LLC. Any unauthorized modification shall constitute a material breach of the Settlement Agreement and shall entitle the non-breaching party to all remedies set forth in Section 8.3 thereof, including but not limited to liquidated damages in the amount specified therein.
Incorporation by Reference. This Exhibit B is incorporated by reference into, and made a part of, the Settlement Agreement and Mutual Release dated January 6, 2025, and shall be governed by and construed in accordance with the terms and conditions set forth therein, including without limitation the governing law, dispute resolution, and enforcement provisions of Sections 10, 11, and 12 of the Settlement Agreement.
Cross-Reference to Exhibit A. The hyperlink included in the Corrective Post shall direct readers to the full Corrective Publication, the complete text of which is set forth in Exhibit A to the Settlement Agreement. The web page at https://grizzlypeakresearch.com/corrective-statement shall contain the full, unabridged, and unaltered text of Exhibit A for the entirety of the twenty-four (24) month posting period. In the event of any discrepancy between the text of the Corrective Publication as hosted online and the text of Exhibit A as executed by the parties, the executed text of Exhibit A shall control, and Grizzly Peak Research LLC shall promptly correct the online version to conform to Exhibit A upon written notice from Redstone Gaming Corp.
Platform Changes. In the event that the social media platform on which the @GrizzlyPeakRes account is maintained undergoes a material change in functionality, naming, or structure (including but not limited to rebranding, merger with another platform, or migration to a successor platform), Grizzly Peak Research LLC shall use commercially reasonable efforts to maintain the Corrective Post in a publicly accessible manner on the successor or modified platform for the remainder of the twenty-four (24) month posting period. Grizzly Peak Research LLC shall promptly notify counsel for Redstone Gaming Corp. of any such platform change and shall cooperate in good faith to ensure continued compliance with the posting obligations set forth herein and in the Settlement Agreement.
[End of Exhibit B]