GameSquare Esports Inc. (CNSX:GSQ) entered into an agreement to acquire Swingman LLC for CAD 7.7 million on July 14, 2021. As consideration for the acquisition, GameSquare expects to issue 2 million of its common shares at a deemed price of CAD 0.50 per share and pay the members of Swingman CAD 3 million in cash. Additionally, certain members of Swingman will be entitled to receive (i) up to CAD 1.25 million paid in common shares and up to CAD 0.15 million paid in cash if Swingman generates up to $1 million of EBITDA in the 12 months following the closing of the acquisition and (ii) up to CAD 2.21 million paid in common shares and up to CAD 0.24 million paid in cash if Swingman generates EBITDA of up to $1.5 million in EBITDA in the period of 12 to 24 months following the Closing, for a maximum consideration of up to CAD 7.85 million paid in cash and common shares. The co-founders and management of Swingman, including Matt Hilman, Devon Woodruff, and Sean Maher, have each agreed to continue to operate Cut+Sew/Zoned following the closing. The Closing is subject to the satisfaction of customary conditions precedent, including, inter alia, applicable regulatory approvals and other closing conditions customarily found in transactions. The transaction is expected to close later in July 2021.