Business
GameSquare Completes Sale of Complexity Gaming
FRISCO, TX / ACCESSWIRE / March 4, 2024 / GameSquare Holdings, Inc. (NASDAQ:GAME)(TSXV:GAME), ("GameSquare", or the "Company"), today announced that it has
About this update from Gamesquare Holdings, Inc.
[{"type":"text","content":"FRISCO, TX / ACCESSWIRE / March 4, 2024 / GameSquare Holdings, Inc. (NASDAQ:GAME)(TSXV:GAME), (\"GameSquare\", or the \"Company\"), today announced that it has received TSXV approval to complete the previously announced sale of NextGen Tech, LLC d/b/a Complexity Gaming (\"Complexity\") to Global Esports Properties, LLC (\"Global Esports\") for total consideration of US$10.36 million. Additional details of the transaction can be found in a press release that was issued on March 1, 2024.\"We are excited to complete the US$10.36 million sale of Complexity that follows the December 2023 sale of our Frankly radio business assets for US$3.40 million. Combined we have unlocked US$13.76 million of value for our shareholders, which we intend to strategically redeploy in our business and support the FaZe Holdings acquisition. In fact, FaZe had a market capitalization of US$14.00 million on October 19, 2023, the day before we announced the acquisition. Increasing our scale, enhancing our capabilities, and optimizing our assets are important near-term strategies as we focus on creating sustainable value for our shareholders,\" noted Justin Kenna, CEO of GameSquare.About GameSquare Holdings, Inc.GameSquare Holdings, Inc. (NASDAQ:GAME | TSXV:GAME) is a vertically integrated, digital media, entertainment and technology company that connects global brands with gaming and youth culture audiences. GameSquare's end-to-end platform includes GCN, a digital media company focused on gaming and esports audiences, Cut+Sew (Zoned), a gaming and lifestyle marketing agency, USA, Code Red Esports Ltd., a UK based esports talent agency, Fourth Frame Studios, a creative production studio, Mission Supply, a merchandise and consumer products business, Frankly Media, programmatic advertising, Stream Hatchet, live streaming analytics, and Sideqik a social influencer marketing platform. Through the pending merger with FaZe Holdings, GameSquare will also operate one of the most prominent and influential gaming organizations in the world.For more information visit www.gamesquare.com.Forward-Looking InformationThis news release contains \"forward-looking information\" and \"forward-looking statements\" (collectively, \"forward-looking statements\") within the meaning of the applicable Canadian and United States securities legislation. All statements, other than state...