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TORONTO, Nov. 18, 2020 (GLOBE NEWSWIRE) -- GameSquare Esports Inc. (CSE:GSQ) (“ GameSquare ” or the “ Company ”), a Canadian esports company, is pleased to announce that it has closed its previously announced non-brokered private placement financing of units (each, a “ Unit ”) at a price of $0.25 per Unit for gross proceeds of $150,000 (the “ Offering ”). For more information on the Offering, please see the Company’s press release dated October 8, 2020, which is available under the Company’s profiles on SEDAR at www.sedar.com and www.thecse.com .
Pursuant to the Offering, GameSquare issued 600,000 Units at a price of $0.25 per Unit. Each Unit consists of one common share of the Company (each, a “ Common Share ”) and one Common Share purchase warrant, entitling the holder to acquire one additional Common Share at an exercise price of $0.40 for a period of 24 months from issuance. The securities issued in connection with the Offering are subject to a statutory four month hold period, which expires on March 18, 2021. No finder’s fees were paid in connection with the Offering. The net proceeds of the Offering are expected to be used for general corporate purposes.
About Game S quare
GameSquare is an international esports company headquartered in Toronto, Canada. The Company is seeking to acquire additional assets and entities serving the esports market and, more broadly, in sports and entertainment. GameSquare’s acquisition of Code Red Esports Ltd. (“ Code Red ”), an esports talent agency, provided an initial foothold in Europe through its UK operations. Code Red represents leading on-screen talent, players and influencers and works with leading global brands to develop influencer campaigns and esports marketing strategies.
For further information, please contact Kevin Wright, CEO of GameSquare:
Email: kevin@gamesquare.com
Phone: (416) 861-2267
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the Offering, such as the expected use of the net proceeds of the Offering , the business and operations of GameSquare , and the Company’s ability to execute its business plan . Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such 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 the forward-looking statements and information contained in this news release. Except as required by law, GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should 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.
