Victory Square Technologies Declares a Special Common Share Dividend of Its Interest in Portfolio Company GameOn Entertainment Technologies Inc.
Victory Square Technologies has declared a special dividend distributing 12.4% of its holdings in GameOn Entertainment Technologies to shareholders. Shareholders of record by May 21, 2021, will receive 20.74989 GameOn shares for every 1,000 shares of Victory Square held, translating to approximately 2 million shares in total. The ex-dividend trading begins on May 20, 2021, and payments are expected by May 27, 2021. Additionally, a strategic dividend initiative for Fantasy 360 Technologies is proposed, with further details pending.
- Special dividend distribution of 12.4% of holdings in GameOn, enhancing shareholder value.
- Dividend of approximately 2 million GameOn shares, creating potential income for shareholders.
- Conditional approval for GameOn's listing on the Canadian Securities Exchange, expected to increase visibility and liquidity.
- No disclosure of GameOn's financial performance or business model, leading to uncertainty regarding future profitability.
- Victory Square to dividend out
12.4% of its holdings in GameOn Entertainment Technologies Inc. to its shareholders. - Victory Square shareholders of record as of the close of business on Friday May 21, 2021 will be entitled to receive the Dividend.
- GameOn has filed its final prospectus with the British Columbia Securities Commission and received CSE conditional listing approval.
- The Company has also approved a strategic dividend reward initiative for portfolio company, Fantasy 360 Technologies Inc. dba Immersive Tech. Further details regarding this reward are forthcoming.
VANCOUVER, British Columbia, May 19, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square'' or "VST") (CSE:VST) (OTC:VSQTF) (FWB:6F6) is pleased to announce that it has declared a special dividend on its common shares (the “Dividend”). The Dividend represents approximately
The Dividend will consist of approximately 2,000,000 common shares of GameOn. Victory Square shareholders of record as of the close of business on May 21, 2021, will be entitled to receive the Dividend at a rate of 20.74989 GameOn shares for each 1,000 Victory Square shares held (approximately 48 to 1 ratio). The Dividend ratio is based on 96,386,043 Victory Square shares outstanding as of the date hereof. No fractional GameOn shares will be issued as part of the Dividend. The shares of Victory Square will commence trading on an ex-dividend basis on May 20, 2021. The Dividend will be payable on Thursday May 27, 2021.
In conjunction with the Company’s long-term strategy to maximize shareholder value, the board of directors of the Company has also approved a strategic dividend reward initiative to unlock the intrinsic value of its other portfolio company, Fantasy 360 Technologies Inc. dba Immersive Tech by proposing a distribution of a portion of the common shares of that company currently held by VST to shareholders of the Company. Further details about this transaction proposal will be announced by the company.
On behalf of the Board of Directors
Shafin Diamond Tejani
Director and Chief Executive Officer
Victory Square Technologies Inc.
www.victorysquare.com
For further information about Victory Square, please contact:
Investor Relations
Contact – Edge Communications Group
Email: ir@victorysquare.com
Telephone: 604 283-9166
Media Relations
Contact – Howard Blank, Director
Email: howard@victorysquare.com
Telephone: 604-928-6066
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth. VST’s sweet spot is cutting-edge tech that's shaping the 4th Industrial Revolution. Our corporate portfolio consists of 20+ global companies using AI, VR/AR, and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn’t your ordinary investor. With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize.
What we do differently for investors
For investors, we offer early-stage access to the next unicorns before they’re unicorns. Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides.
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).
For more information, please visit www.victorysquare.com
ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)
The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.
Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about Victory Square’s payment of the Dividend and about the listing and trading of GameOn’s shares on the CSE.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause VST’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although Victory Square has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Victory Square disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
FAQ
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