VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 07/25/17 — Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE: VST)(CSE: VST.CN)(CNSX: VST)(OTC PINK: VSQTF)(FRANKFURT: 6F6)(WKN: A2AKL8) is pleased to announce a series of moves designed to consolidate its strategic repositioning as a technology company that creates, funds and successfully executes leading-edge ideas in the verticals of sports, health and entertainment.
The Company recently completed a corporate name change from Fantasy 6 Sports Inc. to Victory Square Technologies Inc., effective June 9, 2017, and announced its new trading symbols, VST on the Canadian Securities Exchange and VSQTF on the OTC.
The Company also announces that its major shareholders (collectively, the “Specified Shareholders”) have entered into voluntary Share Restriction Agreements with the Company pursuant to which common shares held by the Specified Shareholders (the “Restricted Shares”) will be subject to resale restrictions, whereby the Restricted Shares will be subject to timed releases in 8% tranches commencing October 1, 2017 (the beginning of the Company–s 4th quarter of the 2017 fiscal year), and continuing with subsequent 8% tranches released each subsequent quarter through completion in October 2020. In total, the voluntary Share Restriction Agreements represent 29,965,596 shares or approximately 54% of the Company–s 55,301,256 issued and outstanding shares. The Restricted Shares include 7,989,209 common shares, which were the subject of escrow restrictions in May 2016 pursuant to National Policy 46-201, Escrow for Initial Public Offerings.
“These are exciting and important steps in the evolution and growth of our Company, and which properly and fully align with our strategic plan focusing on our core competencies in Blockchain Technology, Artificial Intelligence, Gaming, Personalized Health, Film and Virtual, Augmented and Mixed Reality,” said Shafin Diamond Tejani, Chief Executive Officer of Victory Square. “We–re spurred on by the success we have had in building on our original forays into fantasy sports, mobile gaming and immersive sports. In addition, we are energized by our most recent initiatives in sports, personalized health and entertainment and the confidence being shown by our shareholders in the dynamic direction of the Company.”
“It is a huge statement by our major stakeholders to accept a voluntary share restriction agreement that gives us the stability and continuity required to optimize a series of acquisitions over the past year,” said Tejani. “We are poised for strategic growth on the strength of the full confidence of our shareholders, along with our vision for innovation, incubation and acceleration that is synonymous with the resident expertise we have in place.”
“The name change to Victory Square Technologies Inc. better reflects the direction that this innovative technology company is heading,” said Howard Blank, a director of the Company and a veteran of the gaming, film and entertainment industries. “Moreover, our presence on both the CSE and OTC and the support of our major shareholders gives the Company what it needs to not only leverage immediate growth opportunities but ensure long-term sustainability as a major player in the areas of our core competencies.”
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square is a technology company focused on leading-edge ideas in sports, personalized health and entertainment, including gaming and film. It holds established core competencies in Virtual Reality, Augmented Reality, Mixed Reality, Artificial Intelligence and Blockchain technology. As a technology innovator, incubator and accelerator, Victory Square invests in game-changing entrepreneurs who are provided access to the Company–s education programs, global mentorship networks, distribution partners, creative workspaces, resources and other forms of operational support to help them scale internationally. For more information, please visit .
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. The CSE has not reviewed, nor approved or disapproved the content of this press release.
FORWARD-LOOKING INFORMATION
This news release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Victory Square. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square, including future plans for acquisitions. 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 the forward-looking information because Victory Square can give no assurance that they will prove to be correct. Forward-looking 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.
Contacts:
Victory Square Technologies Inc.
Howard Blank
Director
604-928-6066
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