GameSquare sells Frankly radio assets for $3.4M, refinances $5M debenture with $5.8M convertible note

GameSquare Holdings, Inc.

Sold Frankly radio business assets to SoCast for $3.4M; closed Dec 29, 2023, adds non-dilutive capital.
Retired $5M convertible debenture (due Feb 2024); replaced with $5.8M convertible note at 12.75%, 2-year term.
New note convertible at holder's option into GameSquare common shares at $5.00 per share.
Sale price ~1.8x trailing 12-month sales vs. GameSquare's market cap at ~0.4x trailing sales.

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