Victory Square share holders enter resale restriction deals
VICTORY SQUARE TECHNOLOGIES INC. MAKES ITS MARK AS VST ON THE CSE AND VSQTF ON THE OTC …WITH STRATEGIC REPOSITIONING AND NAME CHANGE COMPLETE, KEY STAKEHOLDERS SUPPORT VOLUNTARY SHARE RESTRICTION AGREEMENT
Victory Square Technologies Inc. has made a series of moves designed to consolidate its strategic repositioning as a technology company that creates, finances and 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 have entered into voluntary share restriction agreements with the company pursuant to which common shares held by the specified shareholders will be subject to resale restrictions, whereby the restricted shares will be subject to timed releases in 8-per-cent tranches commencing Oct. 1, 2017 (the beginning of the company’s fourth quarter of the 2017 fiscal year), and continuing with subsequent 8-per-cent 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 per cent 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, 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, [and] 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 Mr. 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.
