GAMESQUARE HLDGS INC Stock Price, News & Analysis

GameSquare Holdings has reported its fiscal second quarter financial results for Engine Gaming, which ended on February 28, 2023. This report is part of a series of regulatory filings following the merger with GameSquare on April 10, 2023. The company anticipates filing its standalone 2022 financial results in the coming weeks.

The upcoming conference call in May will review pro-forma financial results for the first quarter ended March 31, 2023. These results are crucial as they reflect the company's performance post-merger. CEO Justin Kenna expressed gratitude for shareholder patience during this regulatory process.

Investors should stay tuned for the forthcoming conference call details, which will be released separately. The release emphasizes the company's commitment to transparency and timely updates on its financial health.

Lenovo and the Dallas Cowboys have launched a multi-year partnership centered around the Dallas Cowboys Game Time initiative. This official gaming platform aims to engage fans through competitive video gaming, starting with a Fortnite tournament on May 20. Participants can win exclusive prizes, including an all-expenses-paid trip to the 2023 Super Bowl.

The collaboration underscores Lenovo's commitment to enhancing fan experiences and aims to attract a multigenerational audience. Lenovo will supply gaming hardware for tournaments, emphasizing a shared vision to elevate digital engagement with fans.

GameSquare (NASDAQ: GAME) has announced the return of the Soldier Showdown 5, an esports tournament aimed at active-duty U.S. service members, set to begin on May 6, 2023. In partnership with the U.S. Army Installation Management Command, this event promotes camaraderie through gaming and includes popular titles like Multiversus, Rocket League, and Call of Duty: Warzone. The finals will take place at the Lenovo Legion Esports Center in November 2023. This year, Complexity Gaming will implement Stream Hatchet analytics to enhance competition measurement. Registration is currently open exclusively for eligible military members, with weekly matchups streamed on Twitch. The initiative aims to strengthen bonds among soldiers and elevate participation compared to previous years.

GameSquare Holdings, Inc. (NASDAQ:GAME) announced the completion of its arrangement with GameSquare Esports Inc., acquiring all outstanding securities of GSQ. Following this merger, GSQ shares will be delisted from the Canadian Securities Exchange. The newly combined entity aims to become a leader in gaming, esports, and media by connecting global brands with youth culture audiences. A successful public offering raised approximately $9.59 million, and the company consolidated its shares on a 1-for-4 basis, resulting in about 12.9 million shares outstanding. GameSquare will celebrate this milestone by ringing the Nasdaq Opening Bell and hosting a Fortnite tournament event featuring popular streamer Ninja.

Engine Gaming and Media, Inc. (NASDAQ:GAME) has completed its public offering of 7,673,000 subscription receipts at $1.25 each, raising gross proceeds of $9,591,250. The company aims to consolidate its shares on a 1-for-4 basis and has received approval to change its name to GameSquare Holdings, Inc.. The consolidation and name change will commence trading on April 11, 2023. Additionally, Engine is finalizing its arrangement with GameSquare Esports Inc. (OTCQB:GMSQF), where former GameSquare shareholders will receive new shares in a specific exchange ratio. After the conversion, the shareholder distribution will be 33.6% Engine, 51.2% GameSquare, and 15.2% subscription receipt holders. The company will maintain its NASDAQ listing under the symbol GAME and will ring the Nasdaq Opening Bell on the effective date.

Engine Gaming and Media (NASDAQ: GAME) announced an overnight marketed offering to issue up to $9 million in subscription receipts at $1.25 each. The offering, managed by Roth Canada, Inc., includes a 15% over-allotment option. This initiative is linked to the upcoming acquisition of GameSquare Esports Inc. (OTCQB: GMSQF), approved by both companies' shareholders and the Ontario Superior Court. Upon transaction close, subscription receipts will convert into common shares of Engine. The company plans to rebrand as GameSquare Inc. and will undergo a share consolidation to meet Nasdaq requirements.

Engine Gaming and Media, Inc. (NASDAQ:GAME) announced an overnight marketed offering of subscription receipts at $1.25 per receipt, with proceeds held in escrow until the pending acquisition of GameSquare Esports Inc. (CSE:GSQ) is finalized. The transaction, approved by both companies' shareholders and the Ontario Superior Court, will conclude within two weeks, pending customary conditions. Following this, the company will change its name to GameSquare Inc. and consolidate shares to meet Nasdaq requirements. Additionally, insiders are set to participate meaningfully in the offering, classified as a related party transaction under MI 61-101.

Engine Gaming and Media (NASDAQ:GAME) has completed a shares-for-debt transaction extinguishing US$305,137 of outstanding debt by issuing 200,000 common shares at a deemed price of US$1.525 each. Additionally, 100,000 common shares were issued to settle a litigation matter. The shares are subject to a hold period expiring on July 23, 2023. Engine Gaming focuses on providing analytics, influencer marketing, and programmatic advertising services in the gaming industry, generating revenue through subscriptions and managed services.