Victory Square Technologies Provides Corporate Update as at August 17, 2021
Victory Square Technologies (OTC: VSQTF) reported a corporate update showcasing continued growth and a strong financial standing. The company boasts a portfolio of over 20 companies across sectors like Digital Health, Gaming, and Green Tech. It recorded a net income of $16,313,216 for Fiscal 2020, marking five consecutive quarters of positive earnings. Recent milestones include the public listing of GameOn Technologies and a special common share dividend declaration from its portfolio company, Fantasy 360 Technologies. The outlook includes further investments and expansion efforts.
- Achieved record net income of $16,313,216 in Fiscal 2020.
- Five consecutive quarters of positive net income and earnings per share.
- Successful public listing of GameOn Technologies.
- Declaring special common share dividends from portfolio companies.
- None.
- A diverse portfolio of over 20+ companies from around the world in key sectors: Digital Health, Gaming, Esports, Crypto, AR/VR, the Creator Economy, Cybersecurity and Green Tech
- High quality deal flow is generated via established relationships with over 80 incubators around the world
- Healthy balance sheet - 5 consecutive quarters of positive net income and earnings per share
- Record Net Income of
$16,313,216 and positive earnings per share of$0.30 in Fiscal 2020 - Issued a Special Common Share Dividend of its portfolio company GameOn Entertainment Technologies Inc. (CSE:GET) earlier in the year
- Declared a Special Common Share Dividend of its portfolio company Fantasy 360 Technologies Inc. (dba Immersive Tech)
(Victory Square shareholders of record as of the close of business on August 20, 2021 will be entitled to receive the first tranche dividend of Immersive shares)
VANCOUVER, British Columbia, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that provides investors access to a diverse portfolio of next generation tech companies in key sectors including: the Creator Economy, Digital Health, Gaming, Web 3.0, VR/AR and Green Tech, is pleased to provide a corporate update from June 1, 2021 through to August 16, 2021.
“2021 has been a year of continued growth and new opportunities for Victory Square.” Said Shafin Diamond Tejani, CEO. “We’ve seen the significant growth of FansUnite, the public listing of GameOn Technologies and now the upcoming listing of Immersive Technologies later this month. Our balance sheet has never been stronger and our team is laser focused on unlocking value from the existing portfolio, and building a pipeline of new opportunities thru strategic investment and acquisitions.”
June
- Victory Square reported a record fifth consecutive quarter with positive net income and earnings per share. Find out more here.
- GameOn Entertainment Technologies (CSE:GET) officially began trading on the Canadian Securities Exchange on June 1st.
- Victory Square Technologies Announces Completion of Investment in Renewable Energy Company – Stardust Solar. Find out more here.
- Immersive Tech announced the appointment of Alvin Wang Graylin to its Board of Directors. He currently serves as the China President of HTC Corporation, managing all aspects of HTC’s business in the China Region. Find out more here.
- Game On announced an exclusive partnership with India’s entertainment super app MXPlayer that will introduce cricket prediction games for mobile to their service. Find out more here.
- Cloud Advisors announced the launch of Canada’s first digital employer and employee benefits marketplace. Find out more here.
- VST CEO Shafin Diamond Tejani’s latest Techonomy article is a look at the booming Canadian tech scene of 2021. Read it here.
- Covalent has closed
$10 million in a public sale of its CQT token on the distribution platform CoinList. They talk more about it here. - Immersive Tech announces the appointment of Metaverse Leader Cathy Hackl to Its Board of Directors.
- VR/AR Thought Leader and Industry Expert Dan Burgar to Join Immersive Tech Advisory Board
- Next Decentrum Technologies Received
$500,000 Investment to launch Momentable.ai, a digital collectables platform that empowers creators to create, manage, and promote NFT-based digital products, experiences, collections, and communities on the flow blockchain.
July
- Victory Square Technologies Portfolio Company Turnium Technology Group Included on the Ready to Rocket list for 2021 of British Columbia-based technology companies set for faster growth. The Ready to Rocket List 2021 can be found here.
- FansUnite Entertainment Closed
$24,792,390 Public Offering of Units - GameOn announced a partnership with Blockparty to launch a first-of-its-kind NFT predictor product. Find out more about it here.
- In his latest piece for Entrepreneur, VST CEO Shafin Diamond Tejani took a look at the rise of Creator Coins and how they’re helping people take back the reins. Read how they’re doing it here.
- Stardust Solar has become the first and the only coast to coast authorized Canadian dealer of the highly sought-after solar and energy services provider, SunPower. Find out more here.
- Victory Square Technologies portfolio company Turnium Technology Group Inc. (TTGI) is collaborating with IBM to onboard TTGI’s cloud-native SD-WAN solution to the IBM Cloud for Telecommunications. Find out more here.
August
- FansUnite Entertainment Granted UK Gambling Licenses for B2C and B2B Businesses. Read it here.
- VST CEO Shafin Diamond Tejani’s latest Forbes article is a look at the “Five Lessons From A Dotcom-Bubble Veteran For Today’s Retail Investors.” Read it here.
- Victory Square Technologies Signs an LOI for a Follow-on Investment in One of the Top 10 Ranked Influencer Platforms – Creator.co. Find out more about it here.
- Victory Square Portfolio Company, Immersive Technologies Receives Conditional Approval to List Under The Symbol CSE: VRAR. Find out more about it here.
- Victory Square Technologies Declares a Special Common Share Dividend of Its Interest in Portfolio Company Fantasy 360 Technologies Inc. (dba Immersive Tech). Find out more about it here.
- Victory Square Portfolio Company Hydreight Signs Strategic Sales and Marketing Agreement With Medline Industries Inc. to provide Hydreight’s telemedicine platform to Medline’s Clients
Outlook
The Company’s primary goals for the next 90 - 120 days are:
- Issue The First Tranche Of a Special Common Share Dividend of its Interest in Portfolio Company Fantasy 360 Technologies Inc. dba Immersive Tech
- Fantasy 360 Technologies Inc. dba Immersive Tech to Start Trading On The CSE Under Symbol (CSE:VRAR)
- Prepare Stardust Solar for a public listing
- Issue The Second Tranche Of a Special Common Share Dividend of its Interest in Portfolio Company Fantasy 360 Technologies Inc. dba Immersive Tech before the end of the current calendar year.
- Expand Hydreight’s strategic Sales and Marketing Agreement with Medline Industries Inc. to provide Hydreight’s full-suite of mobile digital health solutions and telemedicine platform to Medline’s Clients (surgery centres, skilled nursing facilities, home care agencies, nursing homes, hospice care, hospital laundries)
- Work with Creator.co to grow their existing platform, and to complete the development of an add-on feature which will allow creators to launch their own digital currency powered by the blockchain.
- Successfully invest in additional ventures working on the following: EV Solutions, Renewable Energy, Digital Assets Management, FinTech (Rent now, Pay later), Employee Health & Wellness, and The Creator Economy
- Completing the new digital health technology that allows for whitelabling for enterprise brands and customers
- Completing The “Friendly PC” model certifications in the United States.
- Achieve organic growth for the existing portfolio companies; and
- Invest in the team and infrastructure to support further investments and scaling.
Finally, VST integrates a strong ESG (environmental, social and corporate governance) component throughout its operations. Our portfolio highlights minority entrepreneurs, often overlooked by traditional investors, including many from developing countries. We are also dedicated to giving back to the communities in which we serve and operate. The Company’s mandate is to assist organizations through its time, talent and treasure. The Company is committed to organizations that provide services in the youth, mental health, special needs, sport, tech, education, marginalized groups, First Nations, and accessibility sectors.
Previous corporate updates in 2021 can be viewed below:
Victory Square Technologies Provides Corporate Update as at March 17, 2021
Victory Square Technologies Provides Corporate Update as at May 31, 2021
The company and the management team contributed approximately
“We are living in the midst of the 4th Industrial Revolution; The Tech Revolution that will undoubtedly change everything as we know it.” said Shafin Diamond Tejani. “Digital health, AR/VR, Cybersecurity, Gaming, Sports, Entertainment, and Web 3.0 are sectors that Victory Square has invested in. We offer investors the chance to invest in the most exciting tech trends all in one place.”
Check out VictorySquare.com and sign up to VST’s official newsletter at www.VictorySquare.com/newsletter.
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
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)
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FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, “Outlook” or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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