What is Blue & Silver Ventures’ GameSquare share count after these transactions?

After the reported transactions, Blue & Silver Ventures directly holds 5,997,620 shares of GameSquare common stock. This figure reflects the open-market purchases, the distribution from Goff Jones, and a minor one-share reduction correcting an earlier overstatement of beneficial ownership.

How is Thomas L. Walker related to Blue & Silver Ventures and GameSquare (GAME)?

Thomas L. Walker serves as treasurer of Blue & Silver Ventures and sits on GameSquare’s board as its representative. The filing notes Blue & Silver may be deemed a director by deputization, while Walker disclaims beneficial ownership of its GameSquare securities except for any pecuniary interest.

GameSquare Holdings (GAME) investor boosts stake and adds warrants

Filing Impact

(Moderate)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Blue & Silver Ventures, Ltd., a significant holder of GameSquare Holdings, Inc. common stock, reported fresh open-market buying and an internal restructuring of its holdings. It bought 620,100 shares on May 26, 2026 at a weighted average price of $0.4331 per share and 144,346 shares on May 27, 2026 at a weighted average price of $0.4178 per share, bringing its direct ownership to 5,997,620 common shares afterward. In a separate J-code restructuring on May 22, 2026, it received 1,371,439 common shares and warrants exercisable for 205,716 common shares at $1.55 per share, expiring on March 8, 2029, from the dissolution of Goff Jones Strategic Partners, LLC, which distributed its GameSquare securities to members without selling any shares. The filing also notes a one-share reduction to correct a prior overstatement of beneficial ownership.

Insider Trade Summary

Net Buyer: 764,446 shares ($328,873)

Net Buy 4 txns

Insider Blue & Silver Ventures, Ltd.

Role null

Bought 764,446 shs ($329K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	144,346	$0.4178	$60K
Purchase	Common Stock	620,100	$0.4331	$269K
Other	Warrants (right to purchase)	205,716	$0.00	--
Other	Common Stock	1,371,439	$0.00	--

Holdings After Transaction: Common Stock — 5,997,620 shares (Direct, null); Warrants (right to purchase) — 205,716 shares (Direct, null)

Footnotes (1)

Thomas L. Walker, who is a director of the issuer, is the treasurer for the reporting person and serves on the issuer's board of directors as the reporting person's representative. In light of Mr. Walker's relationship with the reporting person, the reporting person may be deemed a "director by deputization" of the issuer for purposes of Section 16 of the Securities Exchange Act of 1934. This filing is therefore being made out of an abundance of caution, without taking any position as to whether the reporting person is in fact a director by deputization. Mr. Walker disclaims beneficial ownership of any securities of the issuer held by the reporting person, except to the extent of his pecuniary interest therein, if any. Distribution from Goff Jones Strategic Partners, LLC ("Goff Jones"), of which the reporting person is a member. Goff Jones no longer serves its original purpose and is being dissolved. Prior to its dissolution, Goff Jones distributed all of its Common Stock and warrants exercisable for Common Stock to its members. No securities of the issuer were sold by Goff Jones as part of the dissolution. The reporting person's beneficial ownership has been reduced to adjust for an overstatement of one share of Common Stock in a Form 4 filed on April 27, 2026. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.4 to $0.4327 per share. The reporting person undertakes to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price. Prior to the dissolution of Goff Jones, the reporting person received a portion of the warrants held by Goff Jones exercisable for 205,716 shares of Common Stock.

Key Figures

Open-market purchases: 764,446 shares Purchase price May 26: $0.4331 per share Purchase price May 27: $0.4178 per share +5 more

8 metrics

Open-market purchases 764,446 shares Total common shares bought on May 26–27, 2026

Purchase price May 26 $0.4331 per share Weighted average price for 620,100 common shares

Purchase price May 27 $0.4178 per share Weighted average price for 144,346 common shares

Shares held after transactions 5,997,620 shares Common stock directly owned following reported transactions

Restructuring share distribution 1,371,439 shares Common stock received from Goff Jones dissolution

Warrants received 205,716 warrants Warrants exercisable for 205,716 common shares

Warrant exercise price $1.55 per share Strike price for GameSquare common under received warrants

Warrant expiration March 8, 2029 Expiration date of warrants received in restructuring

Key Terms

director by deputization, open market transactions, beneficial ownership, warrants exercisable, +1 more

5 terms

director by deputization regulatory

"the reporting person may be deemed a "director by deputization" of the issuer"

open market transactions financial

"Common Stock purchased in a series of open market transactions"

Open market transactions are the buying and selling of a company’s shares or other securities conducted on public exchanges or through the wider market rather than through private deals or negotiated placements. They matter to investors because these trades change supply and demand in real time—like shoppers affecting a store’s inventory—and so can move prices, signal management or investor sentiment, affect liquidity, and alter ownership stakes that influence future returns and risk.

beneficial ownership regulatory

"Mr. Walker disclaims beneficial ownership of any securities of the issuer"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

warrants exercisable financial

"warrants exercisable for 205,716 shares of Common Stock"

weighted average sale price financial

"Represents the weighted average sale price of Common Stock purchased"

Form 4 Insider Transactions: What Each Field Means →

05/27/2026 - 05:59 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Blue & Silver Ventures, Ltd.

(Last)

(First)

(Middle)

C/O GAMESQUARE HOLDINGS, INC.

6775 COWBOYS WAY, STE. 1335

(Street)

FRISCO

TEXAS

75034

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
GameSquare Holdings, Inc. [ GAME ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		See Footnote (1)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/22/2026		J⁽²⁾		1,371,439	A	$0	5,233,174⁽¹⁾⁽³⁾	D
Common Stock	05/26/2026		P		620,100	A	$0.4331	5,853,274⁽¹⁾	D
Common Stock	05/27/2026		P		144,346	A	$0.4178⁽⁴⁾⁽⁵⁾	5,997,620⁽¹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Warrants (right to purchase)	$1.55	05/22/2026		J⁽²⁾		205,716⁽⁶⁾		03/08/2024	03/08/2029	Common Stock	205,716⁽⁶⁾	$0	205,716⁽⁶⁾	D

Explanation of Responses:

1. Thomas L. Walker, who is a director of the issuer, is the treasurer for the reporting person and serves on the issuer's board of directors as the reporting person's representative. In light of Mr. Walker's relationship with the reporting person, the reporting person may be deemed a "director by deputization" of the issuer for purposes of Section 16 of the Securities Exchange Act of 1934. This filing is therefore being made out of an abundance of caution, without taking any position as to whether the reporting person is in fact a director by deputization. Mr. Walker disclaims beneficial ownership of any securities of the issuer held by the reporting person, except to the extent of his pecuniary interest therein, if any.

2. Distribution from Goff Jones Strategic Partners, LLC ("Goff Jones"), of which the reporting person is a member. Goff Jones no longer serves its original purpose and is being dissolved. Prior to its dissolution, Goff Jones distributed all of its Common Stock and warrants exercisable for Common Stock to its members. No securities of the issuer were sold by Goff Jones as part of the dissolution.

3. The reporting person's beneficial ownership has been reduced to adjust for an overstatement of one share of Common Stock in a Form 4 filed on April 27, 2026.

4. Represents the weighted average sale price of Common Stock purchased in a series of open market transactions on the transaction date at prices ranging from $0.4 to $0.4327 per share.

5. The reporting person undertakes to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each price.

6. Prior to the dissolution of Goff Jones, the reporting person received a portion of the warrants held by Goff Jones exercisable for 205,716 shares of Common Stock.

	/s/ Thomas L. Walker	05/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Blue & Silver Ventures report in this GameSquare (GAME) Form 4?

Blue & Silver Ventures reported buying additional GameSquare common stock and receiving shares and warrants through an internal restructuring. The filing details two open-market purchases plus a distribution from a dissolved LLC that increased its direct holdings and added warrant exposure.

How many GameSquare (GAME) shares did Blue & Silver Ventures buy and at what prices?

Blue & Silver Ventures bought 620,100 GameSquare common shares at a weighted average price of $0.4331 and 144,346 shares at $0.4178. These were open-market purchases executed over two days, as disclosed in the Form 4 transaction table and related footnotes.

What restructuring transaction involving Goff Jones affected Blue & Silver Ventures’ GAME holdings?

An entity called Goff Jones Strategic Partners, LLC was dissolved and distributed all its GameSquare common stock and warrants to its members. Blue & Silver Ventures received 1,371,439 common shares as part of this distribution, and no GameSquare securities were sold in the dissolution process.

What GameSquare (GAME) warrants did Blue & Silver Ventures receive in this Form 4?

Blue & Silver Ventures received warrants exercisable for 205,716 shares of GameSquare common stock. These warrants have an exercise price of $1.55 per share and an expiration date of March 8, 2029, giving the holder potential future equity exposure if exercised.