The merger, valued at approximately US$17 million according to numerous sources, is expected to close shortly pending standard closing conditions.

Jason Lake, CEO of Complexity, acknowledged the potential conflict of interest between Complexity and FaZe in a statement.

He assured that steps would be taken to ensure fair play despite any conflicts that may arise from the merger.

The acquisition of FaZe Clan by GameSquare was announced late last year, following financial struggles faced by FaZe Clan after a challenging public listing.

The deal was initially expected to close in the fourth quarter of 2023 but experienced delays.

Both GameSquare and FaZe Clan have expressed confidence that the merger will be finalized soon.

Prior to the shareholder vote, GameSquare’s Board of Directors unanimously recommended approval of the acquisition.

FaZe Clan shareholders had already voted in favour of the merger in a meeting held on February 16, with 91% approval.

The merger between GameSquare and FaZe Clan marks a significant development in the esports industry, as consolidation becomes increasingly common to manage costs and navigate market changes.

However, concerns about conflicts of interest have been raised, particularly regarding the competitive integrity of Counter-Strike tournaments where both Complexity and FaZe Clan participate, such as the BLAST Premier Series and ESL Pro League.

Jason Lake had previously expressed interest in reacquiring Complexity from GameSquare, potentially offering a solution to mitigate conflicts of interest.

Meanwhile, tournament organizers like ESL and BLAST are closely monitoring the implications of the merger on competitive integrity within the esports scene.

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The specific details of the deal have not been revealed.

The new deals tie the founding members of Complexity’s current Counter-Strike line-up together for years to come.

While Complexity hasn’t shared the exact details, the new contracts cover multiple years.

The announcement did not mention the remaining two players on Complexity’s roster, H?kon “hallzerk” Fj?rli and Jonathan “EliGE” Jablonowski.

However, both have time remaining on their contracts, having joined the team in July 2022 and June 2023, respectively.

The contract extensions come amid a turbulent period for the North American esports team, which found itself in a tricky situation following GameSquare’s intentions to acquire FaZe Clan.

While the deal has yet to be finalised, GameSquare’s purchase of FaZe could prevent one of the two teams from competing in some of the biggest CS events.

The contract extensions might indicate that GameSquare would retain the Complexity roster over FaZe Clan’s.

However, there’s a chance Complexity might also get a new (old) owner.

According to recent reports, the former owner of Complexity, Jason Lake, is searching for investors to reacquire the team he sold to GameSquare in 2021 as a part of an all-stock deal worth US $27 million.

Lake has yet to confirm his intentions; however, he has been on a roadshow to attract investors to finance the deal.

Initially, GameSquare planned to close the acquisition of FaZe Clan in Q4 of 2023; however, the deal will take months to complete, extending the saga, which puts the future of FaZe Clan and Complexity under a huge question mark.

While FaZe Clan accomplished much more in 2023, winning three of the five Counter-Strike 2 tournaments, Complexity has also undergone a massive resurgence.

Following a rough start to the year, Complexity claimed a gold medal from BLAST Premier: Fall American Showdown 2023, made the finals of Intel Extreme Masters Sydney 2023, and reached the semi-finals of BLAST Premier: Fall Final 2023 in November.

With Team Liquid forming a majority-European Counter-Strike roster featuring Casper “cadiaN” M?ller and Russel “Twistzz” Van Dulken, Complexity took over the top spot in the North American CS scene, 179 points clear of M80 in second.

Complexity will return to action next week at PGL Major Copenhagen 2024: North American Qualifier, set to begin on January 12, 2024.

Still committed to NA Counter-Strike after 20 years pic.twitter.com/7pmhxlke3E

— Complexity ? (@Complexity) January 4, 2024

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The company made the announcement via a press release on its official website. It stated that her appointment will take effect immediately and added that her appointment was a win for the company as she brings with her “critical thinking and a wealth of business experience.”

“GameSquare Esports Inc. is pleased to announce that Ms. Jeremi Gorman has been appointed to the Company’s Board of Directors as an independent director, effective immediately,” the press release read.

“Ms. Gorman is a highly experienced senior executive, digital media thought leader, and advertising luminary. She holds the position of President Worldwide Advertising at Netflix and, prior to joining Netflix, served as the Chief Business Officer at Snap Inc. Ms. Gorman brings critical thinking and a wealth of business experience to GameSquare.”

Her appointment with GameSquare does not translate to her leaving Netflix, as she will retain her office as the President of Worldwide Advertising.

She has over the years worked with fast-growing companies. In her capacity as an independent director, Gorman will lend her expertise to the growth of GameSquare with her wealth of experience as a business executive.

Her wealth of experience includes her time with Amazon, where she held the office of Head of Global Large Customer Sales. After which, she joined Snap Inc. as the company’s Chief Business Officer. She was crucial to the company’s growth and increase in revenue.

The Chief Executive Officer of GameSquare, Justin Kenna, commented on the appointment of Gorman. He expressed his excitement over the development and highlighted some of the benefits of her addition to the board.

“I am excited that Jeremi has agreed to join GameSquare as an independent director,” Kenna said.

“Her experience as a leader in digital marketing, advertising, and revenue growth at leading companies like Netflix, Snap, Amazon, and Yahoo! will be invaluable to GameSquare as we accelerate our revenue growth on a trajectory that makes us one of the largest gaming and esports companies.”

Gorman also responded to her appointment, stating that she has been following the organization closely and looks forward to contributing to its growth.

“I am thrilled to be joining the GameSquare Board of Directors,” Gorman said.

“I have been following the progress of GameSquare under the leadership of Justin, and I have been impressed with the scale that the company has achieved in a short period of time. The company has a unique platform that is resonating with brands, and I look forward to sharing my insights and experience with management and the board. Gaming and esports is an incredibly exciting space that is transforming the way that brands connect with fans.”

GameSquare, which has its headquarters in Toronto, Canada, has over the years grown into an esports holding conglomerate. The company owns quite a number of franchises, including esports and gaming media brand GCN, talent agency Code Red Esports, and Complexity Gaming. The company also owns a United States-based marketing agency, Swingman LLC.

GameSquare has been recording an increase in activity this year thus far. The organization commenced a content creation company, Fourth Frame Studios, in February.

In September, the company announced the founding of a merchandising and consumer products company named Mission Supply. September also saw the company add eight new recruits to its employee base, including the recruitment of former workers at Twitch, Rodale, VICE, and 100 Theives.

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The Chief Executive Officer of GameSquare, Justin Kenna, revealed that the new hires included former employees from 100 Thieves, FaZe Clan, VICE Media Group, OpTic Gaming, Condé Nast, Twitch, Rodale, and others. With the new staff, he assured that GameSquare would experience quick-paced growth across its structures as well as that of Complexity Gaming, its esports organization.

“We are adding incredible people to the Company to support our rapid growth and to help optimize the businesses as we continue to build a leading gaming and esports organization,” he said.

“We are on a great trajectory to grow revenue quickly, and we are focused on managing our expenses as we navigate the path to profitability. Our differentiated model is connecting brands with fans through innovative businesses that are being noticed throughout the industry.”

“I am confident that our new team members will make an immediate and positive impact in their respective roles. I look forward to their future contributions as we focus on creating value for our customers, team members, and shareholders.”

While Complexity Gaming is the esports holding company’s most well-known organization, GameSquare also claims ownership of other esports teams like LGD Gaming, Code Red Esports, and Rainbow 7, a team from Rainbow Six.

GameSquare’s new recruits are led by the new COO, Jill Peters. Peters is an executive with an experience level of over 20 years under his belt. The new COO has an impressive track record in terms of hyper-growth scaling, managing early-stage start-up companies, and facilitating turn-around phases for corporations.

Paolo DiPasquale was also announced as the esports company’s new Chief Strategy Officer. DiPasquale previously worked for Canaccord Genuity and was integral to the esports and gaming strategy as well as the capital market presence of the company during his tenure. DiPasquale notably has over 16 years of capital markets experience in terms of investment banking, institutional equity, and equity research.

GameSquare also unveiled Bee Yancey as the company’s new Head of Partnerships and Brand Experience. Yancey was involved with an impressive number of big-name brands before joining the GameSquare.

Notable companies like PepsiCo, Topgolf, Citrix, Microsoft, Hilton Worldwide, Nike, Neiman Marcus, and the Jordan Brand are all notches on her belt. She also has 15 years of experience in the role of executing partnership marketing initiatives as well as corporate hospitality program design.

GameSquare’s Complexity Gaming was not left out in the new staffing as new members in the company’s organizational structure were revealed. Jessey Finizio was introduced as the new VP of the organization’s sponsorship sales.

She has over 14 years of experience working with Fortune 500 and high-growth startup companies. Finizio previously worked with VICE Media Group as the company’s VP, Client Partnerships, and Director, Client Strategy during her tenure at Twitch.

100 Thieves’ Jon “Blackbeard” Schmid was announced as Complexity’s new Social Media Director. He was the Senior Social Media Manager while at 100 Thieves and also worked in similar social media roles during his stints with Infinite Esports & Entertainment and OpTic Gaming.

GameSquare’s other hires are Stephanie Cohen for the position of Senior Director of Brand Partnerships for Gaming Community Network (GCN) and Jack McAuliffe, the company’s new Senior Director of GCN’s West Coast Sales. Cohen was previously a member of Spark and Mindshare Chicago, where she gleaned agency experience. She also gained digital sales experience during her time in Conde Nast and Apartment Therapy Media.

McAuliffe, on his part, worked with Rodale in digital media sales and specialized in technology and gaming property sales. These include products like Tom’s Guide, Tech Radar, GamesRadar, and PC Gamer.

Apart from their new hires, GameSquare also notably launched Mission Supply, their own merchandise and consumer company. The company will provide not only merchandise but also supply consulting services for marketing and sales to any esports organizations or brands that are aiming for a boost in their gaming audience connections.
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Jordan William Fisher is?a 28-year-old American singer, actor,?dancer, and?gamer. In 2012, he had recurring roles in many television series, such as The Secret Life of the American Teenager. He was also featured in the Netflix movie, To All the Boys: P.S. I still love you and work?it.

Jordan Fisher released a video on Twitter in which he narrated life experiences. The clip lasted for two minutes and ended with the assertion that Complexity’s team is “a home of heroes” and is comprised of individuals who have similar values and perspectives as him.

“My goal is to change the game,” he wrote. “Straight up. Change how we view esports as a whole. Film. TV. Docs. Crazier events. Fashion. Music. Time to put some respect on its name. Let’s make this shit a MOVIE.”

Fisher, in partnership with the organization,?will?organize and take part in a variety of esports and gaming events that fall under the Complexity domain.

These events will also include the participation of other content creators. According to a press statement, the addition of Fisher brings the total number of the organization’s followers on social media to more than one hundred million.

In a release, Justin Kenna, CEO of GameSquare Esports, spoke of Fisher’s joining Complexity: “With his unparalleled talent and innovative approach to content creation, the addition of Fisher strengthens Complexity’s portfolio of distinguished talent and broadens the organization’s appeal to new audiences.”

“Our partnership with him will ensure Complexity and GameSquare remain at the cutting edge as traditional entertainment and gaming continue to converge.”

Fisher collaborated with the organization for the first time through Fourth Frame Studios, which is a content studio for the organization. His role as Creative Advisor for Unique IP Development allows him to contribute his considerable talents to the creation of quality content for streaming sites.

Fisher is not the first renowned individual to become a part-owner of the organization; in fact, there have been several others before him. Timothy “TimTheTatman” Betar, a content creator, became a brand partner and part-owner of Complexity in September 2021. While Cloakzy became a?member of the team and a part-owner of the organization in March this year.

The organization currently?features professional teams in games such as Fortnite, Dota 2, Counter-Strike: Global Offensive, Apex Legends, Rocket League, VALORANT, FIFA,?Hearthstone, and Halo among many others.

Complexity Gaming has made tremendous improvements across all of its divisions and operations over the course of the past year. Among these measures is the appointment of Olly Emery and Christina Grushkin to the roles of Head of Marketing and Head of Sales, respectively. In addition to that, the company introduced a gaming subsidiary called Complexity Stars, which is geared toward professional celebrities and sports figures.

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The report revealed a loss of CAD 26.5 million was made by the company for the duration in view (13 months). Compared to the company’s 2020 loss of CAD 3.5 million, GameSquare sustained a heavy loss in the past year. The company also shared the reason for the loss, related it to the ‘non-cash expenses’ and ‘one-time costs’ that were up to the tune of CAD 17.4 million.

The Chief Executive Officer of GameSquare Esports, Justin Kenna spoke about the financial report. He stated that the company’s ‘four times sequential revenue increase from Q3 to Q4’ shows the company’s progress and fast pace growth owing to their strategic acquisitions. He also revealed that this progress is responsible for the company’s stance to increase its 2022 revenue guidance to a range of $30 – $32 million.

“We made great progress throughout 2021, best illustrated by a nearly four times sequential revenue increase from Q3 to Q4, reflecting the pace of our organic growth and the positive impact of our strategic acquisitions,” Kenna said. “These factors have given us the confidence to increase our 2022 revenue guidance to a range of $30m (￡23.9m) to $32m (￡25.5m).”

The acquisitions in question procured by GameSquare include the purchase of one of America’s premier and longest-standing esports organizations Complexity Gaming, for $27 million. GameSquare also bought the multi-hyphenated creative agency Cut + Sew and Zoned for approximately $8 million.

Despite the loss, GameSquare had some notable moments, like the signing of Dennis ‘Cloakzy’ Lepore to the Complexity Gaming roster. The former professional Fortnite player was also made a part-owner of the organization, thereby strengthening the franchise.

Kenna had expressed his excitement about having Cloakzy onboard and highlighted the benefits his acquisition provides.

“Cloakzy is revered in the gaming and esports space for his creativity and energy, and we’re looking forward to bringing his passion to Complexity and GameSquare,” Kenna stated. “This partnership is deeply strengthened by GameSquare’s resources and global network, paving the way for Cloakzy to grow his brand while also reinforcing Complexity as a dominant force in content.”

Cloakzy referred to his signing to Complexity Gaming as an opportunity for him to attain new heights in content creation and connect on a much deeper level with his audience.

“Joining Complexity and GameSquare unlocks new opportunities for me to push the limits of what’s possible in content creation and build a deeper connection to my audience,” Cloakzy said. “I’m looking forward to working with TimTheTatman and Complexity’s diverse roster of talent in an environment that encourages creativity and supports professional development.”

GameSquare’s NFT partnership with Arterra was yet another notable moment for the company and so was the company’s newly formed LA-based creative studio, Fourth Frame Studios.

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