Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 527

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 527
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 “Variable Price”), but
which Variable Price shall not be lower than the Floor Price then in effect. The “Floor Price” will be the lower of (i) $0.25
per share or (ii) 20% of the average VWAP of the Common Stock for the five trading days immediately prior to the date of effectiveness
of the Resale Registration Statement. Additionally, the Company, at its option, shall have the right, but not the obligation, to redeem
early a portion or all amounts outstanding under the Promissory Notes at a redemption amount equal to the outstanding principal balance
being repaid or redeemed, plus a 7% prepayment premium, plus all accrued and unpaid interest; provided that (i) the Company provides
Yorkville with no less than ten trading days’ prior written notice thereof and (ii) on the date such notice is issued, the VWAP
of the Common Stock is less than the Fixed Price.

At
any time during the Commitment Period that there is a balance outstanding under the Promissory Note, Yorkville may deliver notice (an
“Investor Notice”) to the Company to cause an Advance Notice to be deemed delivered to Yorkville and the issuance and sale
of shares of Common Stock to Yorkville pursuant to an Advance (an “Investor Advance”) in an amount not to exceed the balance
owed under the Promissory Note outstanding on the date of delivery of such Investor Notice, and shall not exceed during any calendar
month period, the greater of (i) an amount equal to 15% of the product of (A) the average of the daily traded amount on each trading
day during such period and (B) the VWAP for such trading day, and (ii) $750,000. The foregoing limitation on the amount of any such Investor
Advances shall not apply at any time (x) upon the occurrence and during the continuance of an Event of Default and (y) where the purchase
price is greater than or equal to the Fixed Price. As a result of an Investor Advance, the amounts payable under the Promissory Note
will be offset by such amount subject to each Investor Advance.

An
“Amortization Event” will occur under the terms of the Promissory Note if (i) the daily VWAP is less than the Floor Price
for five trading days during a period of seven consecutive trading days, or (ii) the Company has issued in excess of 99% of the shares