Mr. Justin Kenna reports

GAMESQUARE ANNOUNCES FILING OF ITS STANDALONE 2022 FOURTH QUARTER FINANCIAL RESULTS

Gamesquare Holdings Inc. predecessor Gamesquare Esports Inc. has filed its stand-alone financial results for its fourth quarter ended Dec. 31, 2022. Gamesquare Esports' fourth quarter financial results do not include the April 10, 2023, arrangement with Engine Gaming and Media Inc. The company plans to issue first quarter financial results for Gamesquare Esports, which will include a pro forma income statement of the combined company and expectations for the remainder of 2023 and host a conference call during the week of May 15, 2023. The company expects to file its second quarter 2023 consolidated financial statements for the combined entity in August, 2023.

"I am very pleased with the progress we made in 2022 as we grew revenue over 160 per cent, while comparable period expenses grew by only 13 per cent (including one-time expenses), invested in our business, added new capabilities and worked to complete the merger with Engine Gaming. Two thousand twenty-two revenue was in line with our increased guidance, reflecting the positive trends under way across our business," said Justin Kenna, chief executive officer of Gamesquare Holdings.

"The integration of Gamesquare and Engine Gaming is well under way and I look forward to updating investors on the progress we are making on our call in mid-May. I want to thank everyone at Gamesquare for all their hard work as we focus on successfully integrating the merger, reducing expenses, growing revenue and increasing overall value for our shareholders," concluded Mr. Kenna.

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