- Victory Square to dividend out approximately 9,000,000 common shares in Fantasy 360 Technologies Inc. (“Immersive”) to its shareholders.
- The Dividend will occur in two tranches of 4,500,000 Shares each.
- 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 at a rate of approximately 46.68725 for each 1,000 Victory Square shares held.
- The second tranche will consist of approximately an additional 4,500,000 Immersive Shares which will be eligible to Victory Square shareholders of record as of a date to be determined by Victory Square prior to the end of the current calendar year.
- Victory Square is pleased to offer a second dividend of shares of a portfolio company this year following the recent issuance of the special common share dividend for its portfolio company GameOn Entertainment Technologies Inc.
Not for distribution to United States newswire services or for dissemination in the United States
VANCOUVER, British Columbia, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or “VST”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) is pleased to announce that is has declared a special dividend of common shares in the capital of its portfolio company Fantasy 360 Technologies Inc. dba Immersive Technologies (“Immersive”) to shareholders of Victory Square (the “Dividend”). The Dividend represents approximately 9,000,000 shares in Immersive in total (“Immersive Shares”) which will be distributed to Victory Square shareholders on separate dates as two different tranches. The company will follow CSE guidelines for this dividend distribution and is subject to CSE approval.
The first tranche will consist of approximately 4,500,000 Immersive Shares which will be eligible to Victory Square shareholders of record as of the close of business on August 20, 2021 (the “First Tranche Dividend”), at a rate of approximately 46.68725 Immersive Shares for each 1,000 Victory Square shares held. The First Tranche Dividend ratio is based on 96,386,043 Victory Square shares issued and outstanding on the date hereof.
The second tranche will consist of approximately an additional 4,500,000 Immersive Shares which will be eligible to Victory Square shareholders of record as of a date to be determined by Victory Square prior to end of the current calendar year.
Victory Square is also pleased to celebrate the recent issuance of the special common share dividend for its portfolio company GameOn Entertainment Technologies Inc. (CSE:GET) (announcement made on May 19, 2021)
The common shares issued as part of the Dividend have not been, and will not be, registered under the U.S. Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common shares issued as part of the Dividend in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
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 portfolio consists of 28 global next generation tech companies in key sectors including: the Creator Economy, Digital Health, Gaming, Web 3.0, VR/AR and Green Tech.
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 Immersive’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.
