Victory Square Technologies Corporate Update

• 2022 Q3 unaudited Net Asset Value (“NAV”) of $80,701,078 as at September 30, 2022
• Change Of Auditor to MNP LLP, Chartered Professional Accountant
• Notable Portfolio Highlights: IV Hydreight, RecreationOn, XR Immersive, Stardust Solar, Victory Square Health and extra
• Company & Executive Team featured in Forbes, Entrepreneur, CoinTelegraph and Newsweek
• Investor Q&A Webinar on Tuesday November 15, 2022

VANCOUVER, British Columbia, Nov. 15, 2022 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), an organization targeted on investing in one of the best and brightest entrepreneurs and improvements from around the globe, is happy to supply a company replace.

Shafin Diamond Tejani, CEO of Victory Square: “2022 has been a year of continued growth and new opportunities for Victory Square. We’ve seen significant growth in our Digital Health assets, specifically IV Hydreight which will be listed shortly. We have a healthy balance sheet, significant assets and a strong working capital position. Our team is laser focused on unlocking value from the existing portfolio and building a pipeline of new opportunities. As we recently entered Q4 2022, I’d like to take this opportunity to share our updated NAV and some notable portfolio highlights from Q3 2022.

Net Asset Value (“NAV”) Update:

● 2022 Q3 unaudited NAV of $80,701,078 as at September 30, 2022 (see Use of Non-GAAP Financial Measures)

This replace is made primarily based on Victory Square’s established follow of releasing NAV as a part of the Company’s ongoing response to shareholder curiosity in receiving periodic info. NAV is calculated primarily based on the most recent audited valuations, third celebration pricing company valuations in addition to unaudited administration evaluation valuations (primarily based on comparables available in the market) as at September thirtieth, 2022.

Change Of Auditor:

Victory Square Technologies Inc introduced that it modified its auditor to MNP LLP, Chartered Professional Accountant efficient October 13, 2022.

MNP is likely one of the largest full-service chartered skilled accountancy and business advisory corporations in Canada. With 117 places of work and virtually 8,000 workers, MNP is likely one of the largest skilled service corporations in Canada.

Through their membership in Praxity, a world alliance of like-minded unbiased corporations, MNP has the worldwide expertise and connections to assist VST notice its international potential effectively past Canada’s borders. Praxity member corporations function in 100 international locations around the globe and provide entry to a staff of greater than 51,900 skilled practitioners in over 710 places of work.

Notable Portfolio Highlights:

IV Hydreight – IV Hydreight offers instant wellness by its cellular platform and core staff of professionally educated service suppliers. Hydreight’s distinctive, customized constructed, proprietary telemedicine service permits customers to guide confidential well being and wellness and/or medical providers at their dwelling, resort, workplace, or wherever they may want discreet help with the identical ease and comfort as reserving a experience or ordering meals supply. Hydreight has a 503B pharmacy license beneath the United States Federal Food, Drug and Cosmetic Act and is a U.S. licensed e‐script and telemedicine supplier, permitting it to supply providers in all 50 states. In addition to offering telehealth providers, Hydreight’s different merchandise embody intravenous drips, Botox, and different medical and medispa therapies for a wide range of circumstances, together with dehydration, anti‐getting old, and extra.

• IV Hydreight Announces Receipt of TSXV Conditional Approval
• Approx. 606% Current Growth Rate YOY New Business Partner Sign-ups (2021 vs 2022)

*Numbers are approximate and offered by Hydreight Management

RecreationOn (CSE:GET) – RecreationOn powers the most important sports activities, media, and leisure corporations with essentially the most modern white label recreation applied sciences. RecreationOn offers broadcasters, TV networks, streaming platforms, leagues, tournaments, sportsbooks, and NFT tasks with white label prediction video games, fantasy video games, and NFT‐primarily based video games. Since finishing the Comcast NBCUniversal LIFT Labs Accelerator powered by Techstars in 2018, RecreationOn has secured income‐producing partnerships with international corporations, together with NBCUniversal, Bravo, and MX Player.

• RecreationOn Breaks Even in October, Closes Five Deals in Two Months
• Launched merchandise for (or quickly to launch merchandise for) Chibi Dinos, the WNBA, YOOM (previously Tetavi), RDB Car Club, Crypto Jets Club, and Karate Combat
• Partnered with Karate Combat to launch an NFT mint and fantasy recreation. KC35 noticed 6.6m livestreams and August noticed 143m video views. The league has international distribution in 100+ international locations and is partnered with CBS, Globo, Eurosport, BeIN, & ESPN.
• Announced a partnership with Tetavi for an NFT-based music fantasy recreation. It will permit music followers to find new music, spend money on the songs, and obtain royalties primarily based on streams and charts, in essence constructing their very own report label.

XR Immersive (CSE:VRAR) – Synthesis VR software program platform has grown to turn into the biggest VR out of dwelling leisure market for video games, instructional and coaching experiences worldwide. Synthesis had over 400 VR arcades globally and a market of over 325 VR video games with over 20M participant minutes.

• Over 27 million minutes of gameplay, which is a rise of 153% in comparison with final 12 months (on monitor for over 32 million minutes of gameplay for 2022)
• Over 43,885 buyer accounts had been created on the platform which is a 109% enhance in comparison with final 12 months (on monitor for over 51,000 buyer accounts for 2022)
• Platform subscription has gone up by 108% in comparison with final 12 months
• Launching Support for Android primarily based headsets akin to Quest 2, Pico and Vive Focus 3 with video games for Android headsets in contrast to every other platform. (https://svr.li/mail/w/AZrxopQkwdNdQ3g2ETbZqA)
• Partnered with a number of builders in bringing common video games to VR areas worldwide:
  • Bugs From Space
  • Kaireyhs
  • Rotten Apple
• SynthesisVR brings enterprise coaching to VR areas. Foraying into enterprise: https://svr.li/mail/w/GBtHDQD763ThZ2q763zi8z16oA
• iRacing: one of the common video games is now obtainable on SynthesisVR: https://svr.li/mail/w/5yf763zvGPJWApmlv3DgyvDg
• Ultimechs joins SynthesisVR: https://svr.li/mail/w/9mEzWrn7WgeOsluUmgMBKA

Stardust Solar – Founded in 2017, Stardust Solar is a pacesetter in renewable power training, offering CSA/NABCEP permitted design and set up coaching with hands-on expertise. Stardust Solar can also be one of many first corporations in North America to supply a franchise alternative devoted to the set up of photo voltaic PV techniques. With a community of photo voltaic coaching facilities throughout North America, Stardust Solar is already extensively considered the chief in photo voltaic training now having licensed over 2,000 photo voltaic installers throughout Canada and the USA. With a rising listing of franchise areas throughout North America, Stardust leans on its background to coach householders about essential key variations in photo voltaic merchandise and their warranties, and provides selections when buying life-changing photo voltaic tools, together with Sunpower.

• CSA permitted EV Charger Installation Training accomplished
• Currently have 16 franchises with new franchisees coming in This autumn; Moncton, New Brunswick, Oklahoma City, Oklahoma, Calgary, Alberta, North Vancouver, BC, Victoria, BC.
• New 5-Day NABCEP Solar Sales Associates Training able to be supplied to the general public
• Future proprietary merchandise in analysis and improvement
  • Solar panel recycling plant
  • Environmental panels (generate power from solar and raindrops)
• Environmental pledge – 10 timber planted in a rustic affected by deforestation for each photo voltaic panel put in, and 25 timber planted for each photo voltaic scholar licensed
• 100% YOY Growth

VS Health dba Safetest Comércio de Diagnósticos – VS Health is 360-degree well being care providing sensible, linked units, at-home diagnostic exams, personalised digital steerage and monitoring, 24/7/365 entry to well being care professionals, and prescription supply in Latin America.

• Safetest was chosen to obtain a federal grant in Brazil for a undertaking utilizing Artificial Intelligence within the analysis of uncared for ailments, producing quantitative outcomes and knowledge processing to generate epidemiological info in actual time. Safetest will obtain roughly R$1,000,000 in grants for investing in R&D payroll, stock, software program improvement and tools for the event of smartphone primarily based speedy exams.
• Safetest and Biominas partnered up on a undertaking referred to as Artificial Intelligence in a Point-of-Care Cervical Cancer take a look at, which was chosen for a state grant, being the second finest undertaking amongst tons of of corporations that submitted for this grant. The undertaking will obtain roughly R$1,540,000 for investing in R&D payroll, stock and lab providers for the event of a smartphone primarily based speedy take a look at for the detection of Cervical Cancer.
• Safetest was chosen for a nationwide open innovation program referred to as IBMP (Molecular Biology Institute of Paraná) Hunting. The aim of this system was to seek out tasks that may add modern options to IBMP’s in vitro diagnostics and therapeutic biomolecules technological platforms. Safetest and IBMP are signing an NDA to develop a Rapid PCR Point-of-Care take a look at, which has the potential to alter the Point-of-Care Diagnostics sector.
• Safetest signed a contract with one of many largest Vet merchandise corporations in Latin America for the event and manufacturing of an unprecedented speedy take a look at that has the potential to be a recreation changer within the Vet diagnostics sector.
• Safetest concluded the event of the HTLV 1 and a pair of speedy take a look at and is now going to carry out the scientific validation for registering the take a look at at ANVISA. There are at the moment no exams available in the market that differentiate HTLV 1 from 2.
• The improvement of the Cervical Cancer Rapid Test is transferring ahead shortly with good outcomes. The subsequent step is to develop the variety of samples and the scientific validation.

Next Decentrum – @NextDecentrum, the inventive pressure behind @CryptoPharaohs_, has formally partnered with @flovatar @Piggos_nft @The_Goobz_NFT @Bl0xNFT to deliver one of the best digital collectibles to PopCon ME, the biggest popular culture and gaming occasion within the Middle East

FansUnite (TSX:FANS) – FansUnite continues to keep up a powerful steadiness sheet with $8.8M in working capital and $160.6M in whole property.

Draft Label Technologies – Draft Label subsidiary inks definitive settlement to finish business mixture. Draft Label will turn into an entirely owned subsidiary of AcquisitionCo, which is launching the app DiscreetCare.com

Turnium Technology Group Inc (TSXV:TTGI) – Turnium expands its gross sales presence within the United States with the engagement of RAD-INFO inc and President Peter Radizeski.

Covalent CQT – Covalent introduced a major milestone with blockchain Layer 2 (L2) scaling resolution Boba Network: Covalent will function the primary knowledge supplier to supply full knowledge visibility into all 4 of Boba’s L2 mainnet and testnet chains throughout Avalanche, Ethereum, Moonbeam, and BNB chain.

CloudAdvisors – CloudAdvisors listed as 2022 New Innovators in Canadian Business and was named as a 5-Star Insurance Technology Provider in 2022 by Insurance Business Canada Magazine

CoPilot – Successfully raised 9M in non-dilutive funding.

Webinars and Media:

Webinar – The Company invitations you to hitch the subsequent Investor Q&A Webinar with CEO Shafin Diamond Tejani, particulars discovered beneath.

Date: Tuesday, November 15, 2022
Time: 10:30 am PST/ 1:30 pm EST
Location: through Zoom

Please register on the hyperlink offered right here

Media – The Company and its Executive Team has been featured in a wide range of publications which embody: Forbes, Entrepreneur and Newsweek. Additionally, the Company participated in quite a lot of webinars.

Forbes: Looking To Invest In The Next Big Thing? Ask Your Kids For Advice
CoinTelegraph: Your first recession as an entrepreneur? Here are 4 survival suggestions
Newsweek: Nurses Are Burned Out—Can On-Demand Health Care Apps Help?
Entrepreneur: How Smart Toilets, Toothbrushes and Thermometers May Soon Save Your Life
Forbes: What’s Next For Digital Healthcare
Newsweek: Why Sex Tech Is the Overlooked Giant of the Wellness Industry
Entrepreneur: Web3 Could See Its Own Dot-Com Boom. Here’s How To Survive The Bust.
Forbes: Five Lessons From A Dotcom-Bubble Veteran For Today’s Retail Investors
Worth: What I’ve Learned From Working With Gen Z Entrepreneurs
Entrepreneur: Why Voice Tech Will Be the Post-Crisis Standard — and Not Just for Ordering Pizza
Forbes: The Cybersecurity Gap Hidden In The Background

Shafin Diamond Tejani, CEO of Victory Square: “Thank you to our team, customers, communities, and investors as we look forward to continued progress in Q4 2022.”

Sign as much as VST’s official e-newsletter at www.VictorySquare.com/e-newsletter

On behalf of the Board of Directors

“Shafin Diamond Tejani”
Director and Chief Executive Officer
Victory Square Technologies Inc.
www.victorysquare.com

For additional details about Victory Square, please contact:

Investor Relations Contact – Abbey Vogt
Email: [email protected]
Telephone: 604 283-9166

Peter Smyrniotis – Director
Telephone: 604 283-9166

Use of Non-GAAP Financial Measures:

This launch incorporates references to NAV which is a non-GAAP monetary measure. NAV is calculated as the worth of whole property. The time period NAV doesn’t have any standardized that means in line with GAAP and due to this fact is probably not akin to comparable measures introduced by different corporations. There is not any comparable GAAP monetary measure introduced in Victory Square Technologies Inc. consolidated monetary statements and thus no relevant quantitative reconciliation for such non-GAAP monetary measure. The Company believes that the measure offers info helpful to its shareholders in understanding the Company’s efficiency, and should help within the analysis of the Company’s business relative to that of its friends. This knowledge is furnished to supply further info and doesn’t have any standardized that means prescribed by GAAP. Accordingly, it shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with GAAP, and isn’t essentially indicative of different metrics introduced in accordance with GAAP. Existing NAV of the Company isn’t essentially predictive of the Company’s future efficiency or the NAV of the Company as at any future date.

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

Victory Square (VST) builds, acquires and invests in promising startups, then offers the senior management and sources wanted for fast-track progress. VST’s candy spot is cutting-edge tech that’s shaping the 4th Industrial Revolution. Our company portfolio consists of 25+ international corporations utilizing AI, VR/AR, and blockchain to disrupt sectors as numerous as fintech, insurance, well being and gaming.

What we do in another way for startups

VST isn’t your abnormal investor. With actual pores and skin within the recreation, we’re dedicated to making sure every firm in our portfolio succeeds. Our secret sauce begins with deciding on startups which have actual options, not simply concepts. We pair you with senior expertise in product, engineering, buyer acquisition and extra. Then we allow you to do what you do finest — construct, innovate and disrupt. In 24-36 months, you’ll scale and be able to monetize.

What we do in another way for buyers

For buyers, we provide early-stage entry to the subsequent unicorns earlier than they’re unicorns. Our portfolio represents a uniquely liquid and safe means for buyers to get entry to the most recent cutting-edge applied sciences. Because we concentrate on market-ready options that scale shortly, we’re capable of present robust and secure returns whereas additionally tapping into rising international tendencies with massive upsides.

Victory Square integrates a powerful ESG (environmental, social and company governance) element all through its operations. Our portfolio highlights minority entrepreneurs, typically neglected by conventional buyers, together with many from growing international locations. We are additionally devoted to giving again to the communities during which we serve and function. The Company’s mandate is to help organizations by its time, expertise and treasure. The Company is dedicated to organizations that present providers within the youth, psychological well being, particular wants, sport, tech, training, marginalized teams, First Nations, and accessibility sectors.

VST is a publicly-traded firm headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).

For extra info, please go to www.victorysquare.com.

ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)

The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a inventory trade in 2004, the CSE started operations in 2003 to supply a contemporary and environment friendly different for corporations trying to entry the Canadian public capital markets.

FORWARD-LOOKING INFORMATION

This information launch incorporates “forward-looking information” inside the that means of relevant securities legal guidelines referring to the outlook of the business of Victory Square and its portfolio corporations, together with, with out limitation, statements referring to future efficiency, execution of business technique, future progress, business prospects and alternatives of Victory Square and its associated subsidiaries and portfolio corporations, together with these gadgets listed beneath the heading “Net Asset Value (“NAV”) Update”, “Notable Portfolio Highlights” and different elements past our management. Such forward-looking statements could, with out limitation, be preceded by, adopted by, or embody phrases akin to “believes”, “expects”, “to be”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, “objectives”, “outlook” or comparable expressions, or could make use of such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or could in any other case be indicated as forward-looking statements by grammatical building, phrasing or context. All statements aside from statements of historic info contained on this information launch are forward-looking statements. Forward-looking info relies on sure key expectations and assumptions made by the administration of Victory Square. Although Victory Square believes that the expectations and assumptions on which such ahead wanting info relies are affordable, undue reliance shouldn’t be positioned on them as a result of Victory Square may give no assurance that they may show to be appropriate. Although Victory Square believes that the expectations mirrored in forward-looking statements on this press launch are affordable, such forward-looking statements has been primarily based on expectations, elements and assumptions regarding future occasions which can show to be inaccurate and are topic to quite a few dangers and uncertainties, sure of that are past the Victory Square’s management, together with, however not restricted to, the chance elements mentioned within the steady disclosure supplies of the Victory Square which can be found beneath the Victory Square’s profile on SEDAR at www.sedar.com. The forward-looking statements contained on this press launch are expressly certified by this cautionary assertion and are made as of the date hereof. Actual outcomes and developments could differ materially from these contemplated by these statements. The statements contained on this information launch are made as of the date of this information launch. Victory Square disclaims any intent or obligation to replace publicly any forward-looking info, whether or not because of new info, future occasions or outcomes or in any other case, aside from as required by relevant securities legal guidelines.

The Canadian Securities Exchange has neither permitted nor disapproved the contents of this information launch and accepts no accountability for the adequacy or accuracy hereof.