Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 859

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 859
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 31, 2025, (b) an interest rate of 7% per annum (interest to be
paid in full at maturity) and (c) a conversion price of $4.40 per share.

The
fair value of the Three Curve CD was estimated using the binomial lattice model with the below assumptions:

 Schedule of detailed information about fair value of convertible debentures

    December 31, 2024  
    December 31, 2023 
  
    Share price 
    $0.83  
    $1.78 
  
    Conversion price 
    $4.40  
    $4.40 
  
    Term, in years 
     0.67  
     1.67 
  
    Interest rate 
     7% 
     7%
  
    Expected volatility 
     95.00% 
     115.00%
  
    Risk-free interest rate 
     4.21% 
     4.42%
  
    Expected dividend yield 
     0% 
     0%

    F-35

(c)
Yorkville CD

Key
terms of the Yorkville CD include (a) a maturity date of July 8, 2025, (b) an interest rate of 0% per annum and (c) a conversion price
equal to the lower of (i) $1.375 per common share or (ii) a price per common share equal to 93% of the lowest daily VWAP during the seven
consecutive trading days immediately prior to the conversion date, but which shall not be lower than the $0.25 per share. The Company
recognized a day one loss on issuance of debt of $1.4 million on July 8, 2024 in connection with the issuance of the Yorkville CD, and
is included in loss on extinguishment of debt on the consolidated statements of operations and comprehensive loss. The loss is presented
net of the $0.3 million gain on extinguishment of the King Street CD (see Note 11(a)).

On
August 26, 2024, $100 thousand principal Yorkville CD, with a fair value of $108 thousand, was converted into 103,594 common shares.
On October 17, 2024, $500 thousand principal Yorkville CD, with a fair value of $538 thousand, was converted into 812,347 common shares.
Lastly, in November and December 202