Victory Square Technologies Provides Corporate Update as at May 31, 2021
Victory Square Technologies (CSE:VST, OTC:VSQTF) reported record net income of $19.7 million with an EPS of $0.30 for fiscal 2020. The company plans multiple spin-offs including GameOn and Immersive, alongside launching new ventures like DiscreetCare.com and acquiring IV Hydreight. Oversubscribed financings for portfolio companies were also noted, demonstrating strong investor interest. The company is actively expanding in key tech sectors, with strategic investments in renewable energy through Stardust Solar.
- Record net income of $19.7 million and EPS of $0.30 for fiscal 2020.
- Oversubscribed financings for multiple portfolio companies, indicating strong investor demand.
- Launch of DiscreetCare.com expanding telehealth services.
- Acquisition of IV Hydreight enhances the health tech portfolio.
- Upcoming spin-offs including GameOn and Immersive Tech.
- None.
While 2020 represented an ‘Inflection Point’ in the Victory Square business model, 2021 can be labelled the “Harvest”. Following the successful spin-off of FansUnite in 2020, we’ve got GameOn, Immersive and potentially 3 more portfolio companies teed up to be spun off in the next 12 months. - Shafin Diamond Tejani Victory Square CEO
VANCOUVER, British Columbia, May 31, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square'' or “the Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that provides investors access to a diverse portfolio of next generation internet companies in key sectors including: digital health, gaming, blockchain, AR/VR, cybersecurity, the circular economy and cloud computing is pleased to provide a corporate update as at May 31, 2021.
- Victory Square Technologies Reported Record Net Income of
$19,733,031 and Positive Earnings Per Share of$0.30 in Fiscal 2020. Four Consecutive Quarters of Positive Net Income and Earnings Per Share - Issued a Special Common Share Dividend of Its Interest in Portfolio Company GameOn Entertainment Technologies Inc.
- Victory Square Board of Directors Approved a Special Common Share Dividend of Its Interest in Portfolio Company Fantasy 360 Technologies Inc. dba Immersive Tech Upon Listing and is Subject to CSE and Other Necessary Approvals
- Announced Oversubscribed Financings for Portfolio Companies: GameOn, Immersive Tech and Fansunite
- Acquired IV Hydreight, a Mobile Health and Online Pharmacy Solution
- IV Hydreight Teamed up with Victory Square Health to Expand its Offerings in Brazil
- Launched DiscreetCare.com, a Telehealth Service Across the USA
- Completed
$6,000,000 Sale of VPN Platform - Signed Binding Letter of Intent to Invest in Renewable Energy Company - Stardust Solar
- GameOn to Begin Trading June 1, 2021 on the CSE Under the Symbol (CSE:GET)
- Featured in: Forbes, Entrepreneur & Worth Magazine
“Over the past 48 months, the Company has teamed up with some of the brightest and forward thinking entrepreneurs from around the world. The success of many of the earlier invested companies resulted in VST posting record net income of just under
The Company is pleased to provide an update from January 1, 2021 through to May 31, 2021.
January 2021
- Victory Square Technologies to Implement Normal Course Issuer Bid Share Buy-Back Program in 2021
- Immersive Tech, Announces the Creation of World’s First COVID-safe Location-Based Entertainment (LBE) Virtual Reality (VR) Division “UNCONTAINED”
- FansUnite Entertainment (CSE:FANS) Announces Closing of Upsized and Oversubscribed
$13.4 Million Private Placement - Immersive Tech, Hires Former Senior Executive of the ‘The VOID’, Steven Dooner to lead UNCONTAINED Franchise Development
February 2021
- Victory Square Technologies Announces Completion of Acquisition of IV Hydreight, An On-Demand & On-Site Mobile Health, Pharmaceutical & Wellness Service Provider Across the USA
- GameOn Announces J Moses as Chairman of Board of Directors
- Gaming Veteran Mike Vorhaus Joins GameOn as Strategic Advisor
- Former Soccer Star Tim Cahill Joins GameOn as Strategic Advisor
March 2021
- Victory Square Technologies Completes
$6,000,000 Sale Of VPN Platform To Cloud Nine Web3 Technologies - GameOn completes an oversubscribed
$5,800,000 financing round - Victory Square Technologies Provides 2021- Q1 Corporate Update
- Former Head of Business at Apple News+, Liz Schimel, Joins GameOn Entertainment Technologies’ Board of Directors
- Victory Square Technologies CEO Issues Future Forecast Letter to Shareholders
- Immersive Tech Teams Up With Celebrity YouTube Creator Chris Ramsay On An Exclusive Immersive Experience That Will Be Featured On His Social Media Channels To His 6.4 Million Fans
- Immersive Tech Adds Three “Game Changers” To Its Strategic Advisory Board
- Hydreight & Victory Square Health, Team Up To Expand Telehealth Product Offerings in Brazil
April 2021
- Victory Square Technologies Reports Record Net Income Of
$19,733,031 and Positive Earnings Per Share of$0.30 in Fiscal 2020 - Victory Square Technologies Inc. Announces Closing of Immersive Tech’s Oversubscribed Financing For Gross Proceeds of
$2.3 Million - Immersive Tech, Announces LOI With Autobahn Indoor Speedway For An Initial Purchase Of Their “UNCONTAINED” VR Attraction With An Option To Purchase Up To 10 Units
- UNCONTAINED - Product Reveal Promo
- Victory Square Technologies Portfolio Companies Announce Strategic Partnership to Launch NFT (Non-Fungible Token) Products & Managed Services Platform
- VST signed a Binding LOI with Stardust Solar. Stardust Solar is a leading renewable energy company operating across North America.
May 2021
- Victory Square Technologies Declares a Special Common Share Dividend Of Its Interest in Portfolio Company GameOn Entertainment Technologies Inc.
- GameOn Announces Start of Trading On The CSE Under Symbol (CSE:GET) on June 1, 2021
- Victory Square Technologies Launches DiscreetCare – a Full-Service Web App for the Treatment of Sensitive & Delicate Medical Issues
Media & Conferences
The Company’s Executive Team has been featured in a variety of publications which include: Forbes, Entrepreneur and Worth. Additionally, the Company has been actively engaged in many virtual conferences this year, including: H.C. Wainwright CryptoCurrency Blockchain and FinTech conference, The Planet MicroCap Virtual Showcase, and the Lytham Conference.
Forbes : How To Jump-Start Your Second-Order Thinking After The Crisis
Forbes: The Cybersecurity Gap Hidden In The Background
Forbes: UNCONTAINED Hopes To Fill The Void Left In LBVR With Hyper-Immersive Plug-And-Play Modular Units
Forbes: This Week In XR: Apple VR, Save Poly, LBVR Still Kicking
Entrepreneur: How Smart Toilets, Toothbrushes and Thermometers May Soon Save Your Life
Entrepreneur: Why Voice Tech Will Be the Post-Crisis Standard -- and Not Just for Ordering Pizza
Entrepreneur: The Next Big Thing for TV: Co-Viewing
Worth: What I’ve Learned From Working With Gen Z Entrepreneurs
Visit VictorySquare.com and sign up for the official newsletter of Victory Square at www.VictorySquare.com/newsletter.
On behalf of the board,
Shafin Diamond Tejani
Chief Executive Officer
For further information about the Company, 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 to fast-track growth.
VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our 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 just another 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.
The Canadian Securities Exchange, nor its Regulation Services Provider has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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”, 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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