On July 14th, Justin Kenna, the CEO of GameSquare Esports Inc., announced he had acquired 405,000 shares of common stock in GameSquare on the open market between June 1st and June 29th for an average price of $0.10 a share. This purchase aims to reflect management's confidence "in the intrinsic value of GameSquare stock, near-term and long-term growth prospects, and the outstanding work being done by people that work within the company at Code Red, Complexity Gaming, Cut+Sew, GCN, Fourth Frame Studios."
"We are seeing tremendous opportunities within esports, gaming, sports, and entertainment as brands seek to reach gaming and esports fans resulting in increased sales activity across GameSquare's media and esports companies," Kenna said. "Activity within the esports and gaming market remains high and we are successfully converting our growing pipeline into recognizable revenue. Our portfolio of companies is showing leadership within esports, and we are making great progress as we execute on our growth strategy with a view to achieving profitability."
This comes on the heels of the company's recently announced Q1 2022 financial results. This saw GameSquare Esports increase its revenue guidance range to $23.5 million to $25 million, which is an increase of at least $1.5 million from its prior guidance.
(All information was provided by StreetInsider)
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