VANCOUVER, British Columbia, March 22, 2022 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTCQX:VSQTF) (FWB:6F6), a Venture Studio providing investors with VC-level investment access to the big ideas developed by heavy hitting startups from around the world, is pleased to announce that The Dripbar LLC (“The DRIPBaR”), will be a new partner company (“Partner”) on Victory Square Digital Health’s (“VSDH”) white labeled software technology platform, effective April 1, 2022, to provide The DRIPBaR patients with a seamless and efficient digital health experience, and to support The DRIPBaR’s growth and franchise potential.
The DRIPBaR is a franchise operator focused on helping people obtain their best physical and mental health using intravenous therapies. Through advances in cellular and biological science, The DRIPBaR helps clients fight the consequences of chronic illness, address the effects of aging, and achieve a balanced wellness. The DRIPBaR aims to make their services accessible throughout the United States, to everyone looking to experience their full suite of vitamin therapy options which include, intramuscular quick shots, lifestyle drops, health support drips and oral supplements. The DRIPBaR will utilize VSDH’s digital health platform, and digital pharmacy across their 19 locations, as well as offering their over 430 franchises (at various stages of development) the opportunity access VSDH’s platform to take their medical businesses compliantly mobile, redefining their offering, and helping to meet their fundamental goal of supporting the best health for their clients.
Shafin Diamond Tejani, CEO of Victory Square commented, “We are extremely pleased to have such a large franchise such as The DRIPBaR onboard. VSDH’s White Label platform provides us with another avenue for revenue streaming, and demonstrates Victory Square’s focus on digital health. This is a great opportunity for us to support The DRIPBaR’s growth, and their vision of making their unique and sought after health services available to a large number of clients throughout the United States. We have been impressed with their growth through their franchises, and are pleased to be partnered with them to offer the very best in digital health.”
Ben Crosbie, CEO of DRIPBaR commented, “I’ve been vocal about our desire to bring a modern and accessible approach to help everyday people across America, and as such we have been researching platforms that would allow us to do just that. The VSDH platform provides seamless integration, creating an easy and simple user journey for our clients and allows our staff to facilitate client needs in an efficient manner. Being able to highlight these additional benefits of the platform will be a key component for our continued growth.”
This new relationship with VSDH allows The DRIPBaR to take their current brick and mortar business model into the mobile realm. The additional benefit to new franchisees will be the ability to open their businesses and start operating immediately (by utilizing the mobile drip and online pharmacy), while they wait for their physical locations to be built out.
Terms and Pricing Model of The DRIPBaR and VSDH Agreement
The DRIPBaR have signed up for an initial 5-year term, which will automatically renew unless terminated by either party. VSDH’s White Label platform is also being added to The DRIPBaR franchise agreement as the exclusive digital pharmacy and mobile software provider. The pricing model will be a combination of an annual licensing fee, a revenue share on all booking revenue and revenue share on all pharmacy orders.
Both VSDH and Hydreight IV (wholly owned subsidiaries of Victory Square) will benefit with the revenue stream of this transaction in the form of an annual licensing fee, a percentage of booking revenue and pharmaceutical sales.
About VSDH’s White Labeled Platform
VSDH launched a white-label digital health platform (see press release dated March 7, 2021), that powers consumer health experiences for a wide range of health service providers (from individual practitioners and small boutiques to larger scaled businesses) on a business to business (“B2B”) subscription model, which consists of a fixed annual rate and revenue sharing. This service also includes the setup of a virtual pharmacy facilitating online ordering, payment and processing all in one spot. The business model leverages decentralized healthcare to bring quality digital health (including medical, and health and wellness services) to all 50 states in the U.S., in an efficient, scalable and cost-effective way.
On behalf of the board,
Shafin Diamond Tejani
Chief Executive Officer
Victory Square Technologies
For further information about the Company, please contact:
Investor Relations Contact – Abbey Vogt
Email: ir@victorysquare.com
Telephone: 604 283-9166
Media Relations Contact – Peter Smryniotis, Director
Telephone: 604 283-9166
About The DRIPBaR
Founded in 2016 and franchising since late 2019, The DRIPBaR is a franchise focused on helping people obtain their best physical and mental health using intravenous therapies. Through advances in cellular and biological science, The DRIPBaR helps clients fight the consequences of chronic illness, address the effects of aging, and achieve a balanced wellness. With 19 locations currently open and operating, The DRIPBaR already has nearly 430 additional locations in various stages of development across 27 states. For more information, visit www.thedripbar.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. Victory Square’s sweet spot is cutting-edge tech that’s shaping the 4th Industrial Revolution. Our corporate portfolio consists of 25 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
Victory Square 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
Victory Square 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 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.
For more information, please visit www.victorysquare.com
Cautionary Disclaimers
All information concerning The DRIPBaR have been provided and approved by their management team. Neither Victory Square nor VSDH have taken any independent verification of any information provided by The DRIPBaR and disclaims any and all liability with respect to any information relating to or provided by The DRIPBaR. The DRIPBaR is an independently operated entity in accordance with applicable laws and neither Victory Square nor VSDH makes any representations or warranties about any products or services provided by The DRIPBaR. The provision of health services is regulated in accordance with applicable laws in each jurisdiction in which The DRIPBaR may operate. Consumers are cautioned to obtain their own legal, health and regulatory advice prior to using any services provided by Victory Square, The DRIPBaR, VSDH, IV Hydreight or resulting from the partnership amongst the parties hereto.
Forward Looking Statement
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, including VSDH, IV Hydreight, potential results from the partnership with The DRIPBaR 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.
