Blue & Silver Ventures, Ltd. 4

What Happened
Blue & Silver Ventures, Ltd. (a reporting person linked to director Thomas L. Walker) purchased a total of 2,234,364 shares of GameSquare Holdings, Inc. (ticker: GAME) in a series of open-market transactions between April 22 and April 27, 2026. The purchases were: 809,109 shares on 2026-04-22 at a reported average price of $0.58 ($469,283); 922,890 shares on 2026-04-23 at $0.60 ($553,734); 417,813 shares on 2026-04-24 at $0.60 ($250,688); and 84,552 shares on 2026-04-27 at $0.60 ($50,731). Total consideration reported: $1,324,436. These were purchases (P), which investors commonly view as a more informative/bullish signal than sales.

Key Details

• Transaction dates & reported amounts:
  • 2026-04-22 — 809,109 shares @ $0.58 = $469,283 (footnote indicates this is a weighted average from multiple trades at $0.4697–$0.60)
  • 2026-04-23 — 922,890 shares @ $0.60 = $553,734 (weighted avg range reported $0.580–$0.60)
  • 2026-04-24 — 417,813 shares @ $0.60 = $250,688 (weighted avg range reported $0.5902–$0.60)
  • 2026-04-27 — 84,552 shares @ $0.60 = $50,731 (weighted avg range reported $0.5970–$0.60)
• Total purchased: 2,234,364 shares for $1,324,436.
• Shares owned after transaction: not specified in the data provided here (footnote F2 notes 4,131 shares were added to prior beneficial-ownership totals).
• Notable footnotes:
  • F1: Thomas L. Walker is treasurer of Blue & Silver and serves on GameSquare’s board as the reporting person’s representative; the filing was made out of caution regarding “director by deputization.” Walker disclaims beneficial ownership except to the extent of any pecuniary interest.
  • F2: Reporting person’s beneficial ownership includes 4,131 shares omitted from prior filings.
  • F3–F6: The per-date prices are weighted averages from multiple open-market trades at the price ranges shown.
  • F7: Reporting person will provide, on request, full details on number of shares purchased at each price.
• Timeliness: Filing date is 2026-04-27 and covers trades Apr 22–27. Under Section 16, insiders generally must file Form 4 within two business days of a reportable transaction; check the filing for any late-reporting legend or additional timing details.

Context

• These were plain open-market purchases (transaction code P). For retail investors, purchases by insiders or director-linked entities can indicate confidence but are not proof of future performance.
• Because the reporting person is an entity (Blue & Silver) linked to a board representative (Thomas Walker) and not a straightforward executive trade, interpret accordingly—F1 disclaims direct beneficial ownership except for any pecuniary interest.
• The filing includes footnote offers to provide a full breakdown of trades by price (F7) if you want the exact per-trade pricing rather than the weighted averages.