Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 168

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 168
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 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 investors in block transactions that occurred on January 21, 2025. In July 2025, the Company paid the balance due under the promissory note.

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