Mr. Lou Schwartz reports

GAMESQUARE ANNOUNCES VOLUNTARY DELISTING FROM THE TSX-V

Gamesquare Holdings Inc. has applied for and received conditional approval for a voluntary delisting of its common shares from the TSX Venture Exchange. The delisting from the TSX-V will not affect the company's listing on the Nasdaq Capital Market and Gamesquare's shares will continue to trade on the Nasdaq under the symbol GAME.

The company expects that effective as of the close of trading on or about March 28, 2024, Gamesquare's common shares will no longer be listed and posted for trading on the TSX-V.

Gamesquare decided to delist from the TSX-V in light of its recent acquisition of FaZe, changing shareholder base and existing Nasdaq listing. By delisting from the TSX-V, the company expects to remove expenses and administrative efforts required to maintain a dual listing. Gamesquare also expects trading on a single marketplace will improve long-term liquidity and enhance shareholder value.

Following delisting from the TSX-V, Gamesquare's shareholders can trade their common shares through their brokers on Nasdaq. Gamesquare's Nasdaq listing will continue to provide shareholders with the same accessibility to trade the company's common shares. Shareholders holding Gamesquare shares in Canadian brokerage accounts should contact their brokers to confirm how to trade Gamesquare's shares on the Nasdaq.

The company also announces that, pursuant to an amendment dated Jan. 28, 2024, it received a further investment of $1-million (U.S.) with respect to an outstanding $1.25-million convertible debenture due to expire on Aug. 31, 2025, which reflected an increase in the outstanding aggregate principal balance of the amended debenture to $2.25-million (U.S.). Except for the increased principal amount, all other terms of the debenture, which accrues interest at the rate of 7 per cent per annum and is convertible into common shares of the company at a conversion price of $4.40 (U.S.) per share, remain unmodified.

The convertible debenture is beneficially held by a director of the company. The participation of a director in the amendment of the convertible debenture constitutes a related-party transaction as such term is defined by Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on an exemption from the formal valuation requirements and the minority shareholder approval requirements under MI 61-101 as the fair market value of the amendment of the convertible debentures does not exceed 25 per cent of the market capitalization of the company. The amendment of the debenture has been conditionally approved by the TSX Venture Exchange.

About Gamesquare Holdings Inc.

Gamesquare's mission is to revolutionize the way brands and game publishers connect with hard-to-reach Gen Z, Gen Alpha and Millennial audiences. Its next-generation media, entertainment and technology capabilities drive compelling outcomes for creators and maximize its brand partners' return on investment. Through the company's purpose-built platform, Gamesquare provides award-winning marketing and creative services, offers leading data and analytics solutions, and amplifies awareness through FaZe Clan, one of the most prominent and influential gaming organizations in the world. With an audience reach of one billion digitally native consumers across its media network and roster of creators, Gamesquare is reshaping the landscape of digital media and immersive entertainment. Gamesquare's largest investors are Dallas Cowboys owner Jerry Jones and the Goff family.

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