Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 518

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 518
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 affiliated entities, challenging the disclosures made in connection with the July 2022 merger between B. Riley 150
Merger Corp. and Faze Holdings, Inc. The Company has indemnification obligations to the former B. Riley 150 Merger Corp. directors. Under
the terms of a proposed settlement agreement, B. Riley and the Company will each contribute a total of $1,050,000 of cash and Company
common stock to resolve the matter. The terms of the proposed settlement of this matter are currently being reviewed by the Delaware Chancery
Court.

Villanueva v. Faze Clan, Inc. - On June 20,
2024, Plaintiff Harold Villanueva (“Plaintiff”) filed a Complaint in the California Superior Court for the County of Los Angeles,
seeking damages against FaZe Clan, Inc. and other parties. Plaintiff asserts causes of action for (1) Negligence, (2) Negligent Hiring,
Retention, and Supervision, and (3) Premises Liability in connection with injuries alleged incurred on FaZe Clan’s premises. FaZe
Clan has denied liability for the alleged injuries and this matter is in the discovery stage. FaZe Clan’s insurer is providing defense
of these claims pursuant to a reservation of rights letter.

The outcomes of pending litigations in which the Company
is involved are necessarily uncertain as are the Company’s expenses in prosecuting and defending these actions. From time to time
the Company may modify litigation strategy and/or the terms on which it retains counsel and other professionals in connection with such
actions, which may affect the outcomes of and/or the expenses incurred in connection with such actions.

The Company is subject to various other claims, lawsuits and other complaints
arising in the ordinary course of business. The Company records provisions for losses when claims become probable, and the amounts are
estimable. Although the outcome of such matters cannot be determined, it is the opinion of management that the final resolution of these
matters will not have a material adverse effect on the Company’s financial condition, operations, or liquidity.

7

Item
4. Mine Safety Disclosures

Not
applicable.

PART
II

Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market
Information

Our
common stock is listed on the Nasdaq Capital Market under the symbol “GAME”.

Dividends

The
Company has not paid any dividends since its incorporation. Any