Company: GCL
Filing Date: 2025-07-08
Form Type: 424B3
Source: 0001213900-25-062059
Chunk: 12

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-08
Form: 424B3
Chunk 12
---
 conduct that has resulted 
 in a material violation of any anti-corruption laws and any laws relating to economic or trade sanctions applicable to it, and (b) within   
 one (1) week from the date the Holder notifies PubCo of the intended transferee, the Underwriter has not advised PubCo that the transfer    
 or assignment of the Warrant will have a material adverse effect on the marketing of any Registration. If the Underwriter has advised       
 PubCo that such transfer of the Warrant will have a material adverse effect on the marketing of any Registration, PubCo shall cause the     
 Underwriter to inform the Holder of the material adverse effect in reasonable detail to the extent that no non-public sensitive information 
 will be disclosed.                                                                                                                          |

<div align='center'>7</div>

Subject to
the foregoing under this Section 4.2, within three (3) Trading Days of such surrender and delivery, (i) the transfer shall be recorded
on the books of PubCo upon the surrender of this Warrant, properly endorsed, to PubCo at its principal offices, and the payment to PubCo
of all present or future stamp, court or documentary, intangible, recording, filing or similar taxes imposed in connection with such transfer
or assignment, if any, and (ii) PubCo shall execute and deliver a new Warrant or Warrants in the name of the transferee or transferees
and in the denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant, if any, not so assigned and this Warrant shall promptly thereafter be cancelled; providedthat PubCo shall have
no obligation to cause Warrants to be transferred on its books to any person if, in the opinion of counsel to PubCo, such transfer does
not comply with the provisions of the securities laws, rules and regulations of the applicable jurisdictions.

Notwithstanding
anything herein to the contrary other than Section 4.3(c), this Warrant, if properly assigned in accordance herewith, may be exercised
by a new Holder for the purchase of Warrant Shares immediately upon such assignment without having a new Warrant issued.

| 4.3 | Restrictive Legend. |

| (a) | The Holder understands that until such time as this Warrant and the Warrant Shares                                                         
 have been registered under the Securities Act or otherwise may be sold without any restriction as to the number of securities as of a      
 particular date that can