LONDON, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Mr. Mehdi Khimji announces that he has sold 967,334 common shares (the “Shares”) in the capital of Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST)(OTC:VSQTF)(FWB:6F6). The Shares were sold for approximately CDN$0.672 per Share, representing aggregate proceeds of approximately CDN$649,880 (the “Proceeds”).
The Shares represent approximately 1.3% of the outstanding common shares. When combined with other common shares sold, Mr. Khimji now holds an aggregate of 7,032,667 common shares, representing approximately 9.3% of the issued and outstanding common shares. Mr. Khimji also controls an aggregate of 2.5 million options to purchase common shares. The common shares and options would, if the options were exercised, represent an aggregate of 12.2% of the then outstanding common shares.
Mr. Khimji sold the Shares for investment purposes and may or may not purchase or sell securities of the Company, in the future on the open market or in private transactions, depending on market conditions and other factors. Depending on market conditions, general economic and industry conditions, the Company’s business and financial condition and/or other relevant factors, Mr. Khimji may develop other plans or intentions in the future.
A copy of the early warning report filed in connection with the transaction will be available on the Company’s profile on SEDAR at www.sedar.com or may be obtained by contacting Rick Whitworth at 972-444-9700.