Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 534

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 534
---
 a four month hold period under Canadian securities laws expiring four months following the
Closing Date. The PIPE Shares will not be registered under the Securities Act of 1933, as amended (the “Securities Act”),
or any U.S. state securities laws, and were issued pursuant to and in accordance with the exemption from registration under the Securities
Act, under Section 4(a)(2) and/or Regulation D promulgated under the Securities Act. The securities may not be offered or sold in the
United States absent registration or pursuant to an exemption from the registration requirements of the Securities Act and applicable
U.S. state securities laws.

The
Company also entered into Registration Rights Agreements with the PIPE Investors (the “Registration Rights Agreements”).
The Registration Rights Agreements provide, among other things, that the Company will as promptly as reasonably practicable, and in any
event no later than 150 days after the Closing Date (the “Filing Deadline”), file with the SEC (at the Company’s sole
cost and expense) a registration statement registering the resale of the PIPE Shares and the shares of GameSquare Common Stock underlying
the PIPE Warrants issued to the PIPE Investors, and will use its commercially reasonable efforts to have such registration statement
declared effective as soon as practicable after the filing thereof, but no later than the earlier of (i) the 90th calendar day following
the Filing Deadline if the SEC notifies the Company that it will “review” such registration statement and (ii) the fifth
business day after the date the Company is notified (orally or in writing) by the SEC that such registration statement will not be “reviewed”
or will not be subject to further review.

15

The
Company had previously entered into a backstop agreement (the “Backstop Agreement”) with Goff Jones Strategic Partners, LLC
(formerly known as Goff & Jones Lending Co, LLC) (“Goff Jones”), to purchase common stock to ensure the PIPE was fully
subscribed. The Backstop Agreement was originally announced on October 20, 2023. A total of $6.0 million of securities were issued to
Goff Jones in connection with the Backstop Agreement.

Complexity
Membership Interest Purchase Agreement

On
March 1, 2024, Global Esports Properties, LLC, a Delaware limited liability company (“Buyer”), GameSquare Esports (USA),
Inc., a Nevada corporation (“Seller”) and sole member of NextGen Tech