TORONTO, ON / ACCESSWIRE / June 27, 2022 / Gamesquare Esports Inc. (CSE:GSQ; OTCQB:GMSQF; FRA:29Q1) ('GameSquare', or the 'Company'), announces that GCN, Gamesquare's full-service media and marketing agency serving the sports and esports industry, has been awarded a significant contract by a new customer in the GameSquare group of companies. The contract advances the Company's path to achieving its 2022 revenue guidance of US$23.5 to US$25 million as it is expected to contribute more than 10% of the upper range of the Company's 2022 revenue guidance. The activation is expected to be completed in Q3 and Q4 of 2022, with the relevant revenue expected to be recognized during these quarters. As highlighted in the Company's 2022 Letter to Shareholders, management intends to add new sponsors and new brands as well as offer customers more choice.
'This announcement provides further evidence that we are on track to achieve our guidance and is another step forward on our path to profitability,' said Justin Kenna, CEO of GameSquare. 'By using our media network and influencers across the business, representing a growing audience of more than 220 million, our ability to connect brands with fans is as strong as it's ever been. Our pipeline continues to grow, and I am extremely pleased with the progress that we have made integrating our businesses, accelerating our sales organization, and optimizing our business.'
About GameSquare Esports Inc.
GameSquare Esports Inc. is an international gaming and esports company headquartered in Toronto, Canada. The Company is seeking to acquire additional assets and entities serving the gaming and esports markets and, more broadly, in sports and entertainment. GameSquare owns a portfolio of companies including Code Red Esports Ltd., an esports talent agency serving the UK, GCN, a digital media company focusing on the gaming and esports audience based in Los Angeles, USA., NextGen Tech, LLC (dba as Complexity Gaming), a leading esports organization operating in the United States, and Swingman LLC (dba Cut+Sew and Zoned), a gaming and lifestyle marketing agency based in Los Angeles, USA.
For further information, please contact, Investor Relations for GameSquare Esports Inc.:
Kevin Wright, President and Chairman
Phone: (647) 459-0423
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 future financial performance; the Company's ability to integrate and monetize its core asset portfolio; the business and operations of the Company and its subsidiaries; and the Company's ability to execute its business plan. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company being able to grow its business and being able to execute on its business plan, the Company being able to complete and successfully integrate acquisitions, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to supports its development requirements. These assumptions, 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: the Company's ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company's portfolio across entertainment and media platforms, dependence on the Company's key personnel and general business, economic, competitive, political and social uncertainties including impact of the COVID-19 pandemic and any variants. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company's most recent MD&A. There can be no assurance that forward-looking 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. 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.
In addition, the estimates of revenues may be considered 'future oriented financial information' or 'financial outlooks' (collectively, 'FOFI') within meaning of applicable securities legislation. FOFI has been prepared by the Company's management to provide an outlook of the Company's activities and has been approved as of the date of this news release. The Company believes that the prospective financial information has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represents, to the management's knowledge and opinion, the Company's course of action. The reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. FOFI, as with forward-looking statements generally, are, without limitation, based on assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue may differ materially from the revenue provided 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 ('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.
SOURCE: GameSquare Esports Inc.
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