VANCOUVER, British Columbia, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square'') (CSE:VST) (OTC: VSQTF) (FWB:6F6), a company that provides investors access to a diverse portfolio of next generation technology companies, is pleased to provide a corporate update on its renewable energy company Stardust Solar (“Stardust” or “Company”).
Founded in 2017, Stardust Solar is a leader in renewable energy education, providing CSA/NABCEP approved design and installation training with hands-on experience. Stardust Solar is also one of the first companies in North America to offer a franchise opportunity dedicated to the installation of solar PV systems.
Highlights:
- Solar Network of over 2,000+ trained professionals in Canada and USA (all trained and certified in renewable energies)
- One of the Biggest Renewable Energy Education providers in Canada
- Recently Acquired the Canadian Solar Institute
- Training Courses in Solar PV Installation, EV Charger Installation, Solar Hot Water, Wind Energy, and Wave Energy
- CSA and NABCEP approved training for those entering the renewable energy industry
- Solar PV Installation Franchise Model (developed Dale & Lessmann LLP, a leading franchise law firm)
- 12 Franchise Territories sold or reserved: Vancouver, BC, Richmond, BC, Surrey, BC, Coquitlam, BC, Kamloops, BC, Edmonton, AB, Red Deer, AB, Barrie/Muskoka, ON, York, ON, Durham, ON, and Halifax, NS, P.E.I.
- SUNPOWER National Residential Dealer Agreement in Canada
- Future Proprietary Products in research and development
- Solar Panel Recycling Plant
- Environmental Panels (Generate Energy from Sun and Rain Drops)
- Environmental Pledge - 10 trees planted in a country affected by deforestation for every solar panel installed, and 25 trees planted for every solar student certified
- Company gained 8 new franchisees in 2021 and is preparing to add 20 more franchisees in 2022
- Stardust Solar received the Consumer Choice Award for “Best Solar Energy Company” (Vancouver, BC)
- Aiming for a public listing in 2022
“We are preparing to add 15-20 more franchisees this year and we will begin expansion into the USA. We project approx. 5 of our 20 new franchisees signed next year will be in the USA,” said Mark Tadros, CEO of Stardust Solar.
The USA Department of Energy (DOE) recently released the “Solar Futures Study” detailing the significant role solar will play in decarbonizing the nation’s power grid. The study shows that in just 13 years, solar energy has the potential to power 40% of the nation’s electricity, drive deep decarbonization of the grid, and employ as much as 1.5 million people - without raising electricity prices. “The study illuminates the fact that solar, our cheapest and fastest-growing source of clean energy, could produce enough electricity to power all of the homes in the U.S. by 2035 and employ as many as 1.5 million people in the process,” said Secretary of Energy Jennifer M. Granholm.
“Solar is the future today! Stardust Solar Technology literally changes lives. Owners of our Stardust Solar equipment quickly realize that solar power is much more than saving money and healing the planet… It’s about producing clean energy and reducing one’s carbon footprint today and well into the future,” said Tadros.
On June 8, 2021 Victory Square entered into a share purchase agreement with Stardust Solar in which Victory Square acquired a 20% interest in Stardust Solar in exchange for 674,157 common shares in Victory Square at a price of $0.89 per share for a total value of $600,000.
Victory Square CEO Shafin Diamond Tejani said, “We are very impressed with the continued growth of our portfolio company Stardust Solar. Mark and his team have exceeded their sales and partner growth expectations in 2021 and are on course to make 2022 an even bigger year. This strategic investment aligns with our Company’s vision of working with technology and sustainability influencers as we endeavor to eradicate damage to our environment and create a more sustainable and eco-friendly footprint.” Tejani continued, “and, it’s not just an environmental issue, it’s an economic issue. The estimates going forward in terms of the size of the prize for companies that are in this game early, developing technologies and deploying technologies that address some of the carbon-related issues, is enormous.” “Victory Square continuously looks for returns to its stakeholders and looks forward to the upcoming public offering of Stardust Solar,” said Tejani.
Stardust is changing the solar landscape in Canada. With a network of solar training centers across North America, Stardust Solar is already widely regarded as the leader in solar education now having certified over 2,000 solar installers across Canada and the USA. With a growing list of franchise locations across Canada, Stardust leans on its background to educate homeowners about important key differences in solar products and their warranties, and offers choices when purchasing life-changing solar equipment, including Sunpower. For the first time, homeowners in Canada are afforded the opportunity to make an empowered choice about solar, with the option to choose the best solar system from Stardust Solar’ new Sunpower line of solar products. For more information about Stardust Solar please visit their website https://stardustsolar.com
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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 – Edge Communications Group
Email: ir@victorysquare.com
Telephone: 604 283-9166
Peter Smryniotis - Director
Telephone: 604 283-9166
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.
Victory Square 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.
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 may contain “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square and its portfolio companies, 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 portfolio companies 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. Although Victory Square believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Victory Square’s control, including, but not limited to, the risk factors discussed in the continuous disclosure materials of the Victory Square which are available under the Victory Square’s profile on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. 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.
