GameSquare Esports Inc. an international esports company, announces today that it has entered into a loan agreement with Reciprocity Corp. dated February 26, 2021, pursuant to which the Company expects to extend a US$250,000 loan to Reciprocity. The Loan is unsecured, bears interest at 8% per annum and must be repaid within one year. The proceeds are to be used by Reciprocity to accelerate organic profitable growth ...

GameSquare Esports Inc. (CSE: GSQ; OTC: GMSQF; FRA: 29Q1) (" GameSquare ", " GameSquare Esports ", or the " Company "), an international esports company, announces today that it has entered into a loan agreement with Reciprocity Corp. (" Reciprocity ") dated February 26, 2021, pursuant to which the Company expects to extend a US$250,000 loan (the " Loan ") to Reciprocity. The Loan is unsecured, bears interest at 8% per annum and must be repaid within one year. The proceeds are to be used by Reciprocity to accelerate organic profitable growth by hiring key personnel within the Gaming Community Network (" GCN ") to assist the company in achieving its earnout goals set out in the arrangement agreement in respect of the Transaction (defined below), pursuant to which GameSquare is expected to acquire all of the issued and outstanding equity of Reciprocity (the " Transaction "). The Loan remains subject to the approval of the Canadian Securities Exchange (" CSE ").

"The team at Reciprocity have a robust and growing sales pipeline at GCN which requires key personnel to strike while the iron is hot," said Justin Kenna, CEO of GameSquare Esports. "By funding Reciprocity early, we are enabling GCN to hit the ground running and start converting potential sales into revenue and EBITDA prior to the acquisition closing, which is expected in the coming days. GameSquare is well capitalized and looking to accelerate organic growth within its portfolio company and continues to assess potential M&A to enhance shareholder value."

Please see the Company's press releases dated January 4, 2021, January 12, 2021 and February 23, 2021 for more information about the Transaction and the Company's press releases dated February 8, 2021 and February 9, 2021 for more information about the $7 million bought deal private placement (the " Financing "), each of which are available under the Company's profiles at www.sedar.com and www.theCSE.com . The Financing and the Transaction are expected to close in early and mid-March 2021, respectively.

About GameSquare

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, President of GameSquare:

Email: kevin@gamesquare.com
Phone: (416) 861-2267

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 Company's ability to obtain CSE approval for and to extend the Loan to Reciprocity, the expected timing of completion of the Financing and Transaction, the use of proceeds of the Loan by Reciprocity, the business and operations of the Company, and the Company's ability to execute its business plans. 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 CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

ProStar to Participate in the Lytham Partners Winter 2021 Investor Conference

ProStar to Participate in the Lytham Partners Winter 2021 Investor Conference

ProStar Holdings Inc. ("ProStar®" or the "Company") (OTCQX: MAPPF) (TSXV: MAPS) (FSE 5D00), a world leader in Precision Mapping Solutions ®, announced today it will be participating in the Lytham Partners Winter 2021 Investor Conference taking place from December 13-16, 2021 . During the event, the Company will be participating in a webcasted Fireside Chat discussing its vision for 2022 and conducting 1x1 virtual investor meetings.

Keep reading... Show less
Small Cap Growth Investor Presentations Now Available for On-Demand Viewing

Small Cap Growth Investor Presentations Now Available for On-Demand Viewing

- Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the December 2nd Small Cap Growth Virtual Investor Conference are now available for on-demand viewing.

Keep reading... Show less

Keynotes, Educational Panels and 70 Companies to Present at the SNN Network Canada Virtual Event on December 7-9, 2021

The SNN Network Canada Virtual Event will take place on December 7-9, 2021, where 70 SmallCap, MicroCap and NanoCap public and private companies will be presenting via virtual webcast to a global investor audience

The SNN Network Canada Virtual Event begins on Tuesday, December 7, 2021 with the "MicroCap Investing Workshop" starting at 8:00am EST and featuring well-known financial influencers, investors, fund managers, and key opinion leaders including: Dave Barr, Sharon Wang, Paul Andreola, Becky Popoff, Harold Leishman, Sean MacGillis, and more!

Keep reading... Show less
Grinnell College selects ProStar's SaaS Solution to manage Its 150-year-old infrastructure

Grinnell College selects ProStar's SaaS Solution to manage Its 150-year-old infrastructure

ProStar Holdings Inc. ("ProStar ® " or the "the Company") (OTCQX: MAPPF) (TSXV: MAPS) (FSE: 5D00), a world leader in Precision Mapping Solutions, is pleased to announce that Grinnell College has selected ProStar's solution, PointMan®, to improve the management and maintenance of its critical infrastructure on its over 150-year-old, 120-acre campus.

"Grinnell College is located on 120 acres with miles of buried telecom infrastructure critical to operations. To protect and maintain our expanding and valued buried infrastructure, we realized the need for precise maps and accurate locates. We selected ProStar's PointMan platform from our search for a GIS mapping platform that was easy to adopt, met our precision requirements for reference and locating needs, and flexibility for future GIS needs," said David Ellis, Director of Network Services, Grinnell College.

Keep reading... Show less
JustKitchen Appoints Strategic Advisors and Key Management to Build on its International Expansion

JustKitchen Appoints Strategic Advisors and Key Management to Build on its International Expansion

  • Three advisory appointments are expected to bolster the Company's entrance into the Japanese market, add more global food brands to its portfolio and establish a strong presence in the Philippines
  • Additions to JustKitchen's executive team include a new Chief Technology Officer and Head of Supply Chain
  • A new Business Intelligence department has been formalized to leverage the Company's multijurisdictional JKOS enterprise solution and will be led by Mark Lin , Chief Information Officer, and Ken Chang , Chief Technology Officer

TSXV: JK   OTCQB: JKHCF   FRA: 68Z

Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z) an operator of ghost kitchens specializing in the development of delivery-only food brands, is pleased to announce that it has recently appointed Ernest Higa John Hardyment and Zaki Delgado (the " New Advisors ") to its strategic advisory board. Management expects that Mr. Higa will be instrumental in advising the Company on its entry into the Japanese market, Mr. Hardyment will advise on the onboarding of international food brands and Mr. Delgado will advise on business development opportunities in the Philippines and across southeast Asia . The New Advisors join the two previously announced founding members of the advisory board Warren Tseng as APAC Expansion Advisor and Gene Chuang as Technology Advisor.

Keep reading... Show less
KWESST Micro Systems Taps AMW PR to Lead Public Relations, Media Strategy Initiatives

KWESST Micro Systems Taps AMW PR to Lead Public Relations, Media Strategy Initiatives

National U.S. Public Relations Firm Will Bring KWESST's Story and Proprietary Systems to Media, Public Markets

KWESST Micro Systems Inc. (OTCQB: KWEMF) (TSXV: KWE) ("KWESST," or "the Company"), a leader in providing next-generation tactical systems for security forces and personal defense, is pleased to announce that it has engaged the New York-based public relations firm AMW Public Relations to lead the Company's public relations, brand strategy, and media communications initiatives.

Keep reading... Show less

Top News

Related News