Mr. Justin Kenna reports

GAMESQUARE COMPLETES SALE OF COMPLEXITY GAMING

Gamesquare Holdings Inc. has received TSX Venture Exchange approval to complete the previously announced sale of NextGen Tech LLC, doing business as Complexity Gaming, to Global Esports Properties LLC for total consideration of $10.36-million (U.S.). Additional details of the transaction can be found in a press release that was issued on March 1, 2024.

"We are excited to complete the $10.36-million (U.S.) sale of Complexity that follows the December, 2023, sale of our Frankly radio business assets for $3.4-million (U.S.). Combined, we have unlocked $13.76-million (U.S.) of value for our shareholders, which we intend to strategically redeploy in our business and support the FaZe Holdings acquisition. In fact, FaZe had a market capitalization of $14-million (U.S.) on Oct. 19, 2023, the day before we announced the acquisition. Increasing our scale, enhancing our capabilities and optimizing our assets are important near-term strategies as we focus on creating sustainable value for our shareholders," noted Justin Kenna, chief executive officer of Gamesquare.

About Gamesquare Holdings Inc.

Gamesquare Holdings is a vertically integrated, digital media, entertainment and technology company that connects global brands with gaming and youth culture audiences. Gamesquare's end-to-end platform includes GCN, a digital media company focused on gaming and e-sports audiences; Cut+Sew (Zoned), a gaming and lifestyle marketing agency, United States; Code Red Esports Ltd., a United Kingdom-based e-sports talent agency; Fourth Frame Studios, a creative production studio; Mission Supply, a merchandise and consumer products business; Frankly Media, programmatic advertising; Stream Hatchet, live streaming analytics; and Sideqik a social influencer marketing platform. Through the pending merger with FaZe Holdings, Gamesquare will also operate one of the most prominent and influential gaming organizations in the world.

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