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GameSquare Closes Broker-Free Private Placement Canadian Stock Exchange: GSQ

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TORONTO, February 19, 2021 (GLOBE NEWSWIRE) – GameSquare Esports Inc. (CSE: GSQ) (GameSquare or the Business), an international esports company, is pleased to announce that it has completed its previously announced broker-less private placement funding of units (each, a Unit) at a price of $ 0.42 per unit for gross proceeds of $ 1,000,220 (the Offer). For more information on the Offer, please see Companys ‘press release dated February 8, 2021, which is available under Companys’ profiles on SEDAR at www.sedar.com and www.thecse.com.

As part of the placement, GameSquare issued 2,381,477 units at a price of $ 0.42 per unit. Each unit consists of one ordinary share of the company (each, Common Share) and a half common share purchase warrant (each full warrant, one To guarantee). Each warrant entitles its holder to acquire one additional common share at an exercise price of $ 0.60 for a period of 36 months from issuance. Securities issued in connection with the offering are subject to a statutory holding period of four months, which expires on June 20, 2021. Finder’s fees in connection with the offering have been paid or issued to eligible finders in accordance with the policies of the Canadian Securities Exchange consisting of a cash commission equal to $ 70,015.40 and 166,703 warrants. Each warrant entitles the holder to purchase one common share at a price of $ 0.60 per common share for a period of 36 months after issuance. The net proceeds of the offering should be used for working capital and general corporate purposes.

About GameSquare

GameSquare is an international esports company headquartered in Toronto, Canada. The Company seeks to acquire additional assets and entities serving the esports market and, more broadly, sports and entertainment. Acquisition by GameSquares of Code Red Esports Ltd. (Red code), an esports talent agency, has provided a first foothold in Europe through its UK operations. Code Red represents top talent, players and influencers on screen and works with leading global brands to develop influencer campaigns and esports marketing strategies.

For more information, please contact Kevin Wright, President of GameSquare:

Email: [email protected]
Telephone: (416) 861-2267

Caution regarding forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, forward-looking statements) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release.Any statement that involves discussions regarding forecasts, expectations, beliefs, plans, projections, goals, assumptions, events or future performance (often but not always using expressions such as expects, or does not expect, is expected, anticipates or does not predict, plans, budgets, plans, forecasts, estimates, believes or intends or variations of such words and phrases or stating that certain actions, events or results may or could be, could or will be expected to occur or be realized) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate, among other things, to the Offer, such as the intended use of the net proceeds of the Offer, the activities and activities of GameSquare, and the ability of the Company to execute its business plan. Forward-looking statements are necessarily based on a number of estimates and assumptions which, although considered reasonable, are subject to risks, uncertainties and other known and unknown factors which may cause actual results and events to occur. futures differ materially from those expressed or implied. by these forward-looking statements. These factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking statements and information contained in this press release. Except as required by law, GameSquare assumes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors, if they change, except as required by law.

Neither the Canadian Securities Exchange nor its market regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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