- 2022 Q2 unaudited Net Asset Value (“NAV”) of $89,704,469 as at June 30, 2022
- Notable Portfolio Highlights: IV Hydreight, Creator.co, RecreationOn, XR Immersive, Next Decentrum, Stardust Solar, CoPilot, Fansunite, Turnium, Covalent CQT and CloudAdvisors
- Company & Executive Team featured in Forbes, Yahoo Finance, Entrepreneur, CoinTelegraph and Newsweek
- Next Investor Q&A Webinar on Tuesday September 6, 2022
VANCOUVER, British Columbia, Aug. 29, 2022 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), an organization centered on investing in one of the best and brightest entrepreneurs and improvements from all over the world, and offering VC Investment entry to the 4th Industrial Revolution in an audited, clear and liquid funding automobile, proclaims it has filed its condensed interim consolidated monetary statements and Interim Management Discussion and Analysis (MD&A) for the three months ended June 30, 2022.
“Despite the choppy markets and gloomy headlines, 2022 has been a year of continued growth and new opportunities for Victory Square” said Shafin Diamond Tejani, CEO. Our NAV has remained strong, and we’ve seen significant growth in our portfolio companies so far this year, including over 500% YOY growth from our wholly-owned subsidiary Hydreight. We expect this momentum to continue for the rest of the year. The VST team is laser-focused on unlocking value from the existing portfolio, and we’ve secured strategic non-dilutive capital to build a pipeline of new opportunities,” mentioned Tejani
Financial Highlights:
- 2022 Q2 unaudited Net Asset Value (“NAV”) of $89,704,469 as at June 30, 2022 (see “Use of Non-GAAP Financial Measures” elsewhere)
- The firm secured $2,000,000 of strategic non-dilutive capital to make the most of particular alternatives (see “Strategic Non-Dilutive Loan Terms”)
- IV Hydreight, a completely owned subsidiary of VST, entered right into a Definitive Agreement to Complete Qualifying Transaction for a deemed transaction worth of $22,575,000, of which roughly 78% is attributed to Hydreight and roughly 22% is attributed to PCL.
The Company’s consolidated monetary statements for the quarter ending June 30, 2022 together with its Management Discussion and Analysis (MD&A) can be found below the Company’s profile on SEDAR (www.sedar.com).
Portfolio Highlights:
“We have built up a diverse portfolio of over 25 companies from around the world in key sectors: Digital Health, Gaming, Web3, VR/AR, the Creator Economy and Renewables. Our high quality deal flow is generated via established relationships with over 80 incubators around the world” mentioned Victory Square CEO Shafin Diamond Tejani.
Hydreight – 518% Year-Over-Year New Business Partner Sign-ups
Creator.co – 200% Year-Over-Year Growth
RecreationOn (“GET”) – introduced a partnership with immersive content material pioneer, Tetavi, for a first-of-its-kind NFT music discovery recreation that permits followers to find new music, spend money on artists/songs, construct their very own ‘record label,’ and obtain royalties primarily based on streams and charts.
XR Immersive Tech (“VRAR”) – Synthesis VR software program platform has grown to develop into the biggest VR out of residence leisure market for video games, academic 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.
Next Decentrum – Raised $4M USD to fund product improvement and market progress
Stardust Solar – 100% Year-Over-Year Growth
FansUnite (“FANS”) – Commences Trading on the Toronto Stock Exchange
Turnium Technology Group Inc (“TTGI”) – begins buying and selling on the TSX Venture Exchange on Wednesday, June 22, 2022
Covalent CQT – 55 Team Members, 15,000+ Developers, Mature API stack for 26 blockchains, 20+ Hackathons, 2500+ Alchemists
CloudAdvisors – CloudAdvisors listed as 2022 New Innovators in Canadian Business
CoPilot – Release of Video by CoPilot
Additional portfolio highlights in 2022 may be considered under:
Victory Square Technologies Provides Corporate Update
Media & Webinars:
Webinar – The Company invitations you to hitch the subsequent Investor Q&A Webinar with CEO Shafin Diamond Tejani, particulars discovered under.
Date: Tuesday, September sixth, 2022
Time: 1:05 pm PST/ 4:05 pm EST
Location: through Zoom
Please register on the hyperlink supplied 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 various webinars.
Yahoo Finance:
VSQTF: A Liquid Way to Diversify Into Early-Stage Venture at a Deep Discount to NAV
Newsweek: Nurses Are Burned Out—Can On-Demand Health Care Apps Help?
Forbes: What’s Next For Digital Healthcare
Newsweek: Why Sex Tech Is the Overlooked Giant of the Wellness Industry
CoinTelegraph: How creator cash might be the break Web3 wants
Entrepreneur: Web3 Could See Its Own Dot-Com Boom. Here’s How To Survive The Bust.
Newsweek: 3 (Unexpected) Ways The Metaverse May Change Your Life This Year
Forbes: Five Lessons From A Dotcom-Bubble Veteran For Today’s Retail Investors
Techonomy: Necessity, Not Passion, Drives The Creator Economy
SmallCap 60: $VST – “Providing Investment Access to a New Breed of Disruptive Firms”
Agoracom: $VSQTF Ends 2021 With $100 MILLION NAV For 25+ Portfolio Companies
“Victory Square provides investors with a liquid way to invest in early-stage technology and health care companies without buying a venture fund that requires accredited investor status or multi-year commitments. It also can be purchased by non-accredited investors who are restricted from buying venture funds. It is an excellent way to diversify into early-stage venture” mentioned Tejani.
Check out VictorySquare.com and signal 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 accommodates references to NAV which is a non-GAAP monetary measure. NAV is calculated as the worth of complete property. The time period NAV doesn’t have any standardized that means in line with GAAP and due to this fact is probably not corresponding to related measures offered by different corporations. There isn’t any comparable GAAP monetary measure offered 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 data helpful to its shareholders in understanding the Company’s efficiency, and will help within the analysis of the Company’s business relative to that of its friends. This information is furnished to offer further data and doesn’t have any standardized that means prescribed by GAAP. Accordingly, it shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with GAAP, and isn’t essentially indicative of different metrics offered in accordance with GAAP. Existing NAV of the Company is just not essentially predictive of the Company’s future efficiency or the NAV of the Company as at any future date.
Strategic Non-Dilutive Loan Terms:
VST has entered right into a mortgage settlement with Ryan Kimel (“Kimel”) dated August 26, 2022, whereby VST will borrow an mixture of $2,000,000 from Kimel (the “Loan”). The Loan shall: (i) bear curiosity at 13% each year payable month-to-month prematurely in money or marketable securities held by VST calculated and compounded month-to-month primarily based on a 365 day yr foundation: (ii) mature on the 2 yr anniversary of the time limit of the Loan (the “Maturity Date”); and (iii) be secured towards (a) previous to the completion of the qualifying transaction (“QT”) on the TSX Venture Exchange (the “TSXV”) of Perihelion Capital Ltd. (“PCL”) with IV Hydreight Inc., a completely owned subsidiary of VST, sure shares of publicly traded corporations presently held by VST; and (b) following the completion of the QT, sure shares (“PCL Shares”) to be acquired by VST within the capital of PCL, a capital pool firm listed on the TSXV. In reference to the Loan and topic to the completion of the QT, VST shall additionally grant Kimel the precise to accumulate as much as 1,222,222 PCL Shares to be acquired by VST in reference to the QT at a value per PCL Share of $0.63 at any time after 4 months following the completion of the QT and previous to the Maturity Date topic to sure further circumstances. VST intends to make use of the proceeds from the Loan for particular alternatives and common working capital functions.
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then offers the senior management and assets 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+ world corporations utilizing AI, VR/AR, and blockchain to disrupt sectors as various 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 traders
For traders, we provide early-stage entry to the subsequent unicorns earlier than they’re unicorns. Our portfolio represents a uniquely liquid and safe method for traders to get entry to the most recent cutting-edge applied sciences. Because we give attention to market-ready options that scale shortly, we’re in a position to present sturdy and steady returns whereas additionally tapping into rising world developments with huge upsides.
Victory Square integrates a robust ESG (environmental, social and company governance) element all through its operations. Our portfolio highlights minority entrepreneurs, usually missed by conventional traders, together with many from growing international locations. We are additionally devoted to giving again to the communities through which we serve and function. The Company’s mandate is to help organizations by way of its time, expertise and treasure. The Company is dedicated to organizations that present providers within the youth, psychological well being, particular wants, sport, tech, schooling, 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 data, 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 alternate in 2004, the CSE started operations in 2003 to offer a contemporary and environment friendly various for corporations seeking to entry the Canadian public capital markets.
FORWARD-LOOKING INFORMATION
This information launch accommodates “forward-looking information” throughout the that means of relevant securities legal guidelines regarding the outlook of the business of Victory Square and its portfolio corporations, together with, with out limitation, statements regarding 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 objects listed below the heading “Goals for the Next Quarter”, “2022 Outlook” and different components past our management. Such forward-looking statements could, with out limitation, be preceded by, adopted by, or embody phrases comparable to “believes”, “expects”, “to be”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, “objectives”, “outlook” or related 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 apart from statements of historic information contained on this information launch are forward-looking statements. Forward-looking data 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 trying data relies are affordable, undue reliance shouldn’t be positioned on them as a result of Victory Square may give no assurance that they are going to 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, components 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 components mentioned within the steady disclosure supplies of the Victory Square which can be found below 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 data, whether or not because of new data, future occasions or outcomes or in any other case, apart 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 duty for the adequacy or accuracy hereof.
