Company: GAME
Filing Date: 2025-06-27
Form Type: 424B5
Source: 0001641172-25-016943
Chunk: 13

Company: GameSquare Holdings, Inc.
Filing Date: 2025-06-27
Form: 424B5
Chunk 13
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 We cannot predict the effect that future sales of Common Stock or other equity-related securities would have on the market price of our Common Stock.

Operational, Market and Legal Risks.

The Company is exposed to a variety of operational, market and legal risks in connection with the operation of its business that could have a material adverse effect on the Company and its business, including but not limited to the risks that: the Company will not be successful in creating products and services that appeal to customers, that the Company will not be successful in acquiring or retaining talent, or operating profitably; that Company will not be successful in adapting to changes in market forces, including competition, consumer attitudes, business methods and financing trends; and that the Company could be materially affected by changes in the legal and regulatory landscape in which it operates or by adverse outcomes in pending or future litigation, including the legal matters disclosed in the litigation section of the Company’s Annual Report on Form 10-K for the fiscal year December 31, 2024, filed with the SEC on April 15, 2025 on sec.gov/edgar.

We have never paid dividends on our capital stock and we do not anticipate paying any dividends in the foreseeable future.

We have not paid dividends on any of our classes of capital stock to date and we currently intend to retain our future earnings, if any, to fund the development and growth of our business. As a result, capital appreciation, if any, of our common stock will be your sole source of gain for the foreseeable future.

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<div align='center'>CONSOLIDATED CAPITALIZATION</div>

The following describes the changes in the consolidated capitalization of the Company since March 31, 2025, the date of the Company’s most recent financial statements. Except as set forth below, there have been no material changes in the share and loan capital of the Company, on a consolidated basis, since March 31, 2025.

| ● | 87,946 shares of Common Stock issued on April 1, 2025; and |
| ● | 210,403 shares of Common Stock issued on June 6, 2025.     |

As a result of the Offering, the shareholder’s equity of the Company will increase by the amount of the net proceeds of the Offering and the number of issued and outstanding Common Stock will increase by the number of Offered Shares actually distributed under the Offering.

<div align='center'>USE OF PROCEEDS</div>

The net proceeds from the Offering, if