Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 69

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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Gigamoon
CD Conversion

As
previously disclosed, 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”). Subsequently, on April 2, 2025, GameSquare and Gigamoon entered into an exchange agreement,
effective April 1, 2025, pursuant to which, the parties agreed to accelerate the exercise date under the Gigamoon CD to April 1, 2025.
As a result, on April 1, 2025, GameSquare transferred the 5,725,000 shares of Series A-1 Preferred Stock of Faze Media Inc. to Gigamoon.

Promissory
Note

On
March 25, 2025, the Company entered into a secured promissory note with Blue & Silver Ventures, Ltd. The principal amount of $2 million
under the promissory note is payable on demand and no later than July 1, 2025. The promissory note bears interest at a rate of ten 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.

In July 2025, the Company paid $2.1 million, principal and accrued interest, to pay down the Blue & Silver promissory note in
full.

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