Gamesquare Esports receives final court approval for Engine Gaming arrangement

GameSquare Esports (GMSQF) and Engine Gaming and Media (GAME) announced that they have received approval from the Ontario Superior Court of Justice to complete the previously announced plan of arrangement under the Business Corporations Act pursuant to which Engine Gaming will acquire all of the issued and outstanding common shares of GameSquare at an exchange ratio of 0.08262 of an Engine Gaming common share for each GameSquare Share. The Arrangement was previously approved by shareholders of both GameSquare and Engine Gaming and remains subject to the satisfaction or waiver of the closing conditions contained in the arrangement agreement. Upon closing of the transaction, GameSquare shareholders are expected to own approximately 60% of combined company, and Engine Gaming shareholders are expected to own approximately 40% of the combined company, which will trade on the NASDAQ and TSX Venture Exchange under Engine Gaming’s ticker symbol "GAME." The combined entity is expected to change its name to "GameSquare, Inc." and retain the "GameSquare" brand globally.