|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.4290 - 0.4411|
|52 Week Range||0.0260 - 0.8366|
|Beta (5Y Monthly)||2.16|
|PE Ratio (TTM)||62.91|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. ("Victory Square" or the "Company") (CSE: VST) (OTC: VSQTF) (FWB: 6F6) is pleased to announce, due to strong investor demand, that it has entered into an amended agreement with Gravitas Securities Inc. (the "Lead Agent"), on its own behalf and on behalf of a syndicate of agents (collectively, the "Agents"), to increase the size of the previously announced private placement of the Company. Pursuant to the increase, the Company will offer for sale up to an aggregate of 10,576,924 non-transferable special warrants of the Company (the "Special Warrants") at a price of $0.52 per Special Warrant, for aggregate gross proceeds of approximately $5.5 million (the "Private Placement Offering"). The Company has also amended the option granted to the Agents to provide for the sale of up to an additional 1,923,077 Special Warrants (the "Over-Allotment Option"), which option is exercisable by the Agents, in whole or in part, at any time up to 30 days following the closing of the Private Placement Offering. The initial closing of the Private Placement Offering is expected to occur on or around November 6, 2020, or such other date as the Lead Agent and the Company may agree (the "Initial Closing Date").Each Special Warrant will entitle the holder thereof to receive one unit of Victory Square (a "Unit"), without payment of additional consideration, with each Unit being comprised of one common share of the Company (a "Share") and one-half of one non-transferable common share purchase warrant of the Company (each whole such warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase an additional common share of the Company (a "Warrant Share") at a price of $0.78 per share for a period of 36 months from the Initial Closing Date.The Company has agreed to prepare and file a short form prospectus (the "Prospectus") qualifying the distribution of the Shares and the Warrants in British Columbia, Alberta, Manitoba and Ontario. In the event a receipt for the preliminary Prospectus has not been issued within 60 days of the Initial Closing Date, each Special Warrant will, upon the earlier of (i) four months and one day following the Initial Closing Date (or such subsequent closing date as may be applicable) and (ii) the date of the issuance of the receipt for the final Prospectus, entitle the holder of the Special Warrant to receive, at no additional cost, 1.10 Units, provided that the Company shall not be required to issue fractional Units, Shares or Warrants and any fractions shall be rounded down to the nearest whole number.Until a receipt is issued for the final Prospectus, securities issued in connection with the Private Placement Offering will be subject to a 4-month hold period from the date of issue.The net proceeds of the Offering are expected to be used for future acquisitions, organic growth investments, working capital and general corporate purposes.The closing of the Private Placement Offering is subject to the completion of formal documentation, including but not limited to, the execution of an agency agreement with the Agents in connection with the Offering and receipt of regulatory approvals, including approval of the Canadian Securities Exchange.On behalf of the board,Shafin Diamond Tejani Chief Executive Officer Victory Square Technologiesplease navigate to: VictorySquare.com and sign up to VST’s official newsletter at www.VictorySquare.com/newsletter.For further information about the Company, please contact:Investor Relations Contact – Alex Tzilios Email: firstname.lastname@example.org Telephone: 778-867-0482Media Relations Contact – Howard Blank, Director Email: email@example.com Telephone: 604-928-6066ABOUT VICTORY SQUARE TECHNOLOGIES INC.Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth.VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our portfolio consists of 23 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 just another 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 investorsVST 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 investors, we offer early-stage access to the next unicorns before they're unicorns.Forward Looking StatementCertain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Private Placement Offering, the intended use of proceeds of the Offering, the filing of the Prospectus and the obtaining of receipts for the Prospectus. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the Company's business in general; (iii) that the proceeds of the Offering may need to be used for purposes other than as set out in this news release and other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by applicable law, the Company does not intend to update these forward-looking statements.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.Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.
CGA members will be able to access on-site rapid testing for Covid-19 subject to Health Canada approvals * Gaming in Canada supports over 180,000 jobs* * Annually, pre-Covid-19 saw over 50,000,000 visits to gaming properties across Canada* * Pre-Covid-19, the industry purchased over $14.6 billion in goods and services annually, generating $18.9 billion of value-added GDP to the Canadian economy* * Providing access to rapid testing is an important tool to help reopen the economy and assist the hospitality industryVANCOUVER, British Columbia, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Victory Square Health Inc. (“VS Health” or the "Company") – a portfolio company of Victory Square Technologies Inc. ("Victory Square'') (CSE:VST) (OTC:VSQTF) (FWB:6F6) has entered into an agreement with the Canadian Gaming Association (CGA), a national trade association representing the leading operators and suppliers in Canada’s casino gaming and lottery industry subject to Health Canada approval.The Company announced on October 6, 2020 that it had submitted all formal documents and research for Health Canada approval of its proprietary Safetest Covid-19 Rapid test. This sales, distribution and testing agreement will enable VS Health to assist the members of one of Canada’s largest hospitality industry associations ensuring the health and safety of the 180,000 employees that make up the gaming industry in Canada. Before the industry shut down in March, Canadian casino and bingo operators had over 50 million unique visits annually to their properties.This Safetest Covid-19 Rapid Test complement will allow each participating property to access rapid, easy, efficient and cost-effective daily Covid-19 Rapid tests to ensure employees are not infected with the Covid-19 virus, which will in turn keep workplaces safe. The test may also be administered to customers, subject to Health Canada approvals.“We are very pleased to engage with Victory Square Health,” said Paul Burns, President and CEO of the Canadian Gaming Association. “We believe that providing access to rapid testing, like the Safetest Rapid Test product, is one of the most important tools to help reopen our economy and to allow for greater confidence in increasing capacities in venues across the hospitality industry.”“I am delighted with this important agreement with the CGA so that Victory Square Health may realize its goal of commencing distribution of its exclusive Rapid Test kits on a national scale,” said Victory Square CEO Shafin D. Tejani. “The gaming and entertainment industries have been adversely affected by this pandemic and we are confident that our products and testing services will enable these properties to reopen and increase capacity through our Covid-19 tests. We look forward to providing our Safetest Rapid Test kits and testing services to all companies affected by Covid-19 following Health Canada approvals so that they can get their teams back to work and help grow our economy.”Victory Square Health is committed to assisting Canadians and Canadian organizations. The company recently announced a strategic partnership with the Canadian Police Association and its members across Canada.VS Health was founded in 2016 to accelerate the development of personalized medicine and technology solutions including diagnostic tests to support patient care and improve health outcomes. Its first product, the Leishmaniasis Rapid Test, was developed in partnership with the UFMG, Federal University of Minas Gerais. Safetest took advantage of its expertise in the subject to develop other antibody-based tests and a robust R&D pipelines of diagnostic kits for Hansen’s Disease, Brucellosis, HTLV and blood sample screening tests.Disclaimer:The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.*These figures have been vetted by the Canadian Gaming AssociationGo to: VictorySquare.com and sign up for VST’s official newsletter at www.VictorySquare.com/newsletterOn behalf of the board,Shafin Diamond Tejani Chief Executive Officer Victory Square TechnologiesFor further information about the Company, please contact:Investor Relations Contact – Alex Tzilios Email: firstname.lastname@example.org Telephone: 778-867-0482Media Relations Contact – Howard Blank, Director Email: email@example.com Telephone: 604-928-6066ABOUT VICTORY SQUARE TECHNOLOGIES INC.Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth.VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our portfolio consists of 23 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.What we do differently for startupsVST isn't just another 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 investorsVST 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 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 while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.ABOUT CGA:The Canadian Gaming Association (CGA) is a national trade association that works to advance the evolution of Canada’s gaming industry. The association’s mandate is to promote the economic value of gaming in Canada; use research, innovation, and best practices to help the industry advance; and create productive dialogue among stakeholders.Forward Looking StatementThis news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, 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, including Victory Square Health Inc., 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”, 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. 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.
VANCOUVER, BC, Oct. 21, 2020 /CNW/ - Trading resumes in:Company: Victory Square Technologies Inc.