on GameSquare Holdings, Inc. (NASDAQ:GAME)
GameSquare Holdings Implements $5 Million Ethereum Purchase
GameSquare Holdings, Inc. has announced the completion of a $5 million Ethereum purchase. The acquisition amounts to approximately 1,818.84 ETH at a price of $2,749 per Ethereum. This move marks the initial step in the company's strategy of deploying a $100 million Ethereum treasury authorization.
The firm intends to use its Ethereum-centric treasury approach to generate sustainable yields through decentralized finance protocols. Justin Kenna, CEO, highlighted the company's aim for risk-adjusted returns between 8-14%, utilizing advanced platforms like Medici.
Further bolstering its financial strategy, GameSquare completed an offering raising total gross proceeds to $9.2 million. The approach is aligned with the company's long-term strategic goals, with potential future capital allocations for additional Ethereum asset purchases and growth initiatives.
R. E.
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