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GameSquare approves stock buyback program funded by Ethereum yield proceeds. The company purchased 2,717 ETH for $10 million, raising its treasury holdings to 15,630.07 ETH.
$GAME – GameSquare Authorizes Stock Buyback Using Ethereum Yield Proceeds GameSquare has approved a share repurchase program funded by returns from its Ethereum holdings. The company recently acquired 2,717 ETH for $10 million, bringing its total treasury to 15,630.07 ETH. https://t.co/bdniHap9hr
$GAME - GAMESQUARE APPROVES STOCK BUYBACK PROGRAM FUNDED BY ETHEREUM YIELD PROCEEDS GAMESQUARE PURCHASED 2,717 OF ETHEREUM FOR $10M, INCREASING TREASURY HOLDINGS TO 15,630.07 ETH
GameSquare said it has authorized a share-repurchase program that will be financed with investment earnings generated from the company’s cryptocurrency portfolio. Management did not disclose the size or timing of the planned buybacks but said proceeds from Ethereum-related yield will be used to retire equity. The esports and digital media firm concurrently disclosed that it bought 2,717 Ether for about $10 million, taking its total cryptocurrency treasury to 15,630.07 Ether. The purchase is intended to bolster the income stream that will fund the repurchases, the company added.
