Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 896

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 896
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 percent (10%) per annum, with a default interest rate of fifteen percent (15%) per annum, and is payable on demand and no
later than July 1, 2025 with the principal amount. The Company, at its option, may prepay the promissory note, in whole or in part, without
a prepayment penalty of any kind.

In
connection with the promissory note, the Company entered into a security agreement, by and between the Company and Blue & Silver
Ventures, Ltd. to provide a security interest in the assets of the Company to Blue & Silver Ventures, Ltd. in order to secure the
obligations underlying the promissory note.

Yorkville
CD conversion and settlement

On
January 2, 2025, the Company announced that it has extinguished its outstanding convertible note and standby equity purchase agreement
with Yorkville Advisors Global L.P. (“Yorkville”). Under the strategic transaction, GameSquare has issued a zero-coupon, 60-day
promissory note to Yorkville associated with a prepayment penalty of $0.8 million. Additionally, all shares previously owned by Yorkville,
were purchased by outside investors in block transactions that occurred on January 21, 2025.

Gigamoon
CD

On
November 13, 2024, the Company and Gigamoon entered into a senior secured convertible promissory note in the principal amount of $10
million (the “Gigamoon CD”). On December 15, 2024, the Company received cash of $10 million from Gigamoon for issuance of
the Gigamoon CD.

The
Gigamoon CD bears an interest rate of 7.5% per annum, which automatically shall be increased to 10.0% in the event of an event of default.
The Gigamoon CD has a maturity date of five years from the issuance, unless earlier accelerated upon the occurrence of an event of default
upon the election of the holder. Interest shall accrue as of the issuance date and shall be payable by the Company on (i) each anniversary
of such issuance date, and (ii) the earlier of (a) the maturity date and (b) the conversion or exchange of the Gigamoon CD. Interest
payments under the Gigamoon CD are payable in the Company’s common stock, equal to the quotient of (a) the aggregate amount of
any accrued and unpaid interest as of such payment date