- Immersive Technologies Inc. Reserves to List Under the Symbol CSE: VRAR
- This will be Victory Square’s second dividend initiative in 2021
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VANCOUVER, British Columbia, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. ("Victory Square'' or the "Company") (CSE:VST) (OTC:VSQTF)(FWB:6F6) is pleased to announce that, as part of the Company’s long-term strategy to maximize shareholder value, the board of directors of the Company has approved a strategic dividend reward initiative to unlock the intrinsic value of its portfolio company, Fantasy 360 Technologies Inc. dba Immersive Tech (“Immersive”) by proposing a distribution of a portion of the common shares of Immersive currently held by the Company to shareholders of the Company. Victory Square will evaluate, consider and assess the mechanism by which to effect such distribution on a tax efficient and financially prudent basis, with the aim of ultimately capitalizing Immersive as a stand-alone publicly listed entity, following its public listing.
Shafin Diamond Tejani, Chief Executive Officer of Victory Square, commented: “Our Board along with myself and our Executive team believe that this strategic dividend reward with Immersive is in direct alignment with our vision to provide a strong recurring return on investment for our stakeholders. Our Team and Board at VST are very excited at the upcoming listing of Immersive that follows in the footsteps of the successful listings of our portfolio companies FansUnite (FANS) and GameOn (GET).”
About Immersive
As an industry leader in blending amusement park engineering and video game development, Immersive has established strong working relationships with top organizations including: Bayer Pharmaceuticals, Intel, Allegiant Airlines, Capital One, Scotia Bank, and the US Food and Drug Administration among others for brand activations at events including X-Games, Boston Hub Week among others. Over the past four years. Immersive has built highly sought after escape room experiences for some of the largest Family Entertainment groups globally including APEX Entertainment, and Kalahari Resorts. Immersive also operates the newly launched company “UNCONTAINED”, the world's first COVID-safe free-roam AR/VR shipping container Location-Based Entertainment franchise. For more info view the company’s latest highlight reel video or visit www.ImmersiveTech.co
Immersive “In the news” recent announcements:
- 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
Subject to all requisite regulatory approvals, the mechanism, timing and quantum of any such future distribution will be subject to the determination of the Company’s board of directors, in its sole discretion, taking into account, among other things, liquidity, financial condition, corporate strategy, tax implications, market trends and other capital market considerations. The complete plan of distribution of Immersive Technologies in shares will be announced upon listing and is subject to the company's board of directors and CSE approval.
The Company also announces that pursuant to its Stock Option Plan the board of directors approved the granting of an aggregate of 325,000 incentive stock options to certain consultants of the Company. 250,000 incentive stock options are exercisable at an $0.51 per share for a period of 2 years, ending July 22, 2023, and 75,000 incentive stock options are exercisable at $0.53 per share a period of 2 years, ending July 26, 2023.
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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” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square and Immersive, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square, Immersive and each of its respective 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 and Immersive 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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.