GameSquare Holdings, which owns leading esports organisation FaZe Clan, has announced the initial transaction under its previously authorised $5 million stock repurchase programme.

The company confirmed it repurchased 833,124 shares of its common stock for a total of $599,148. This transaction represents an average price of approximately $0.7192 per share, as the board’s authorisation stipulates that repurchases are to be executed only if the company’s shares trade below $1.50. Following this purchase, $4.4 million remains available under the current authorisation.

In a statement, the company indicated it intends to continue using funds generated by its treasury strategy to opportunistically repurchase its common stock, aligning with its capital allocation priorities.

The repurchase programme was initially announced in August 2025 and is notable for its funding source. At that time, the company confirmed the buybacks would be financed through returns generated by its Ethereum (ETH) investment strategy. The company’s onchain yield strategy, managed with blockchain investment firm Dialectic, reportedly targets annualised returns between 8% and 14%.

“Our repurchase program underscores the confidence we have in the long-term value of GameSquare,” said Justin Kenna, CEO of GameSquare. “This program reflects our conviction that the market price does not fully capture the potential of our operating businesses or the unique returns generated by our treasury management strategy. We view this as a highly accretive use of capital and a direct way to create value for shareholders.”

This sentiment echoes his comments from the programme’s announcement in August, where he stated: “Every dollar of net income our Ethereum yield strategy generates can be used to buy back our stock, provided it trades below $1.50 per share under our current plan. This reflects our belief that the current market value does not fully capture the long-term earnings potential of our operating businesses or our treasury management strategy.”