Happy Square Day! 9 (3x3) 16 (4x4) Victory Square (VS, 22 9)
“8:30p ET 8/29/2022 - Globe Newswire
Victory Square Technologies Reports 2022 Q2 Financial Results & Corporate Update
EQNX::TICKER_START (CNSX:VST.CN),(Frankfurt:6F6),(OTC US:VSQTF),(Other OTC:VSQTF), EQNX::TICKER_END -- 2022 Q2 unaudited Net Asset Value ("NAV") of $89,704,469 as at June 30, 2022
-- Notable Portfolio Highlights: IV Hydreight, Creator.co, GameOn, 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
Victory Square Technologies Inc. ("Victory Square" or the "Company") (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company focused on investing in the best and brightest entrepreneurs and innovations from around the world, and providing VC Investment access to the 4th Industrial Revolution in an audited, transparent and liquid investment vehicle, announces it has filed its condensed interim consolidated financial 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," said 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 company secured $2,000,000 of strategic non-dilutive capital to take advantage of special opportunities (see "Strategic Non-Dilutive Loan Terms")
-- IV Hydreight, a wholly owned subsidiary of VST, entered into a Definitive Agreement to Complete Qualifying Transaction for a deemed transaction value of $22,575,000, of which approximately 78% is attributed to Hydreight and approximately 22% is attributed to PCL.
The Company's consolidated financial statements for the quarter ending June 30, 2022 along with its Management Discussion and Analysis (MD&A) are available under 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" said Victory Square CEO Shafin Diamond Tejani.
Hydreight - 518% Year-Over-Year New Business Partner Sign-ups
Creator.co - 200% Year-Over-Year Growth
GameOn ("GET") - announced a partnership with immersive content pioneer, Tetavi, for a first-of-its-kind NFT music discovery game that allows fans to discover new music, invest in artists/songs, build their own 'record label,' and receive royalties based on streams and charts.
XR Immersive Tech ("VRAR") - Synthesis VR software platform has grown to become the largest VR out of home entertainment marketplace for games, educational and training experiences worldwide. Synthesis had over 400 VR arcades globally and a market of over 325 VR games with over 20M player minutes.
Next Decentrum - Raised $4M USD to fund product development and market growth
Stardust Solar - 100% Year-Over-Year Growth
FansUnite ("FANS") - Commences Trading on the Toronto Stock Exchange
Turnium Technology Group Inc ("TTGI") - begins trading on the TSX Venture Exchange on Wednesday, June 22, 2022
Covalent CQT - 55 Team Members, 15,000+ Developers, Mature API stack for 26 blockchains, 20+ Hackathons, 2500+ Alchemists
CloudAdvisors - CloudAdvisors listed as 2022 New Innovators in Canadian Business
CoPilot - Release of Video by CoPilot
Additional portfolio highlights in 2022 can be viewed below:
Victory Square Technologies Provides Corporate Update
Media & Webinars:
Webinar - The Company invites you to join the next Investor Q&A Webinar with CEO Shafin Diamond Tejani, details found below.
Date: Tuesday, September 6th, 2022
Time: 1:05 pm PST/ 4:05 pm EST
Location: via Zoom
Please register at the link provided here
Media - The Company and its Executive Team has been featured in a variety of publications which include: Forbes, Entrepreneur and Newsweek. Additionally, the Company participated in a number of webinars.
Yahoo Finance:
VSQTF: A Liquid Way to Diversify Into Early-Stage Venture at a Deep Discount to NAV
Newsweek: Nurses Are Burned Out--Can On-Demand Health Care Apps Help?
Forbes: What's Next For Digital Healthcare
Newsweek: Why Sex Tech Is the Overlooked Giant of the Wellness Industry
CoinTelegraph: How creator coins could be the break Web3 needs
Entrepreneur: Web3 Could See Its Own Dot-Com Boom. Here's How To Survive The Bust.
Newsweek: 3 (Unexpected) Ways The Metaverse May Change Your Life This Year
Forbes: Five Lessons From A Dotcom-Bubble Veteran For Today's Retail Investors
Techonomy: Necessity, Not Passion, Drives The Creator Economy
SmallCap 60:$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" said Tejani.
Check out VictorySquare.com and sign up to VST's official newsletter at www.VictorySquare.com/newsletter.
On behalf of the Board of Directors
"Shafin Diamond Tejani"
Director and Chief Executive Officer
Victory Square Technologies Inc.
www.victorysquare.com”
