VANCOUVER, British Columbia, Oct. 24, 2019 (GLOBE NEWSWIRE) — Victory Sq. Applied sciences Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) is happy to announce V2 Video games Inc. (“V2 Video games”), a wholly-owned subsidiary of the Firm, is elevating $3,000,000 CAD in a non-public placement providing (the “Non-public Placement”) of unsecured convertible debentures (every, a “Debenture”) for gross proceeds of $3,000,000.
Every Debenture issued pursuant to the Non-public Placement has a problem worth of $1,000, a time period of two years from the date of issuance and can accrue curiosity at a fee of 8% each year. The principal quantity of the Debentures, plus accrued and unpaid curiosity, can be payable in money on the maturity date except in any other case transformed into widespread shares of V2 Video games previous to such date.
V2 Video games is a video and cellular sport ventures agency specializing in royalty investments in high-value gaming tasks that includes globally-recognized mental properties. The corporate generates money circulation by streaming income share from recognizable gaming tasks. Examples of those tasks embody: Pacific Rim: Breach Wars, Rune: Ragnarok, and Whats up Kitty. V2 Video games beforehand developed the hit cellular sport PAC-MAN Bounce, which obtained over 20 million downloads.
V2 Video games has additionally incubated and invested in some main eSports start-ups, together with Pepper Esports Inc. and Money Stay. Money Stay lately acquired a further $150,000 USD funding from SnapChat.
V2 Video games intends to make use of the web proceeds of the Non-public Placement for investments in royalty producing gaming tasks, normal working capital functions and to arrange for an association to probably spin-out V2 Video games.
“It has been thrilling to witness and be part of the fast development of this area lately,” mentioned Shafin Diamond Tejani, Chief Government Officer of Victory Sq.. “This financing will enable us to construct on our rising portfolio of high-value gaming tasks that includes globally acknowledged mental properties and our technique to maximise shareholder worth, which features a working in direction of the association to spin-out V2 Video games.”
“With further funding into V2 Video games, we’re excited to put the groundwork for our attainable public itemizing, work alongside an much more intensive assortment of Internationally famend IP holders,”
mentioned Sam Chandola, founding father of V2 Video games.
For additional details about the Firm, please contact:
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Sq. Applied sciences Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) builds, acquires and invests in promising startups, then offers the senior management and assets wanted to fast-track development. The consequence: fast scale-up and monetization, with a strong monitor file of private and non-private exits.
VST’s candy spot is the cutting-edge tech that is shaping the 4th Industrial Revolution. Our portfolio consists of 20 international corporations utilizing AI, VR/AR and blockchain to disrupt sectors as numerous as fintech, insurance coverage, well being and gaming.
What we do in a different way for startups
VST is not simply one other investor. With actual pores and skin within the sport, we’re dedicated to making sure every firm in our portfolio succeeds. Our secret sauce begins with choosing startups which have actual options, not simply concepts. We pair you with senior expertise in product, engineering, buyer acquisition and extra. Then we allow you to do what you do finest — construct, innovate and disrupt.
What we do in a different way for traders
VST is a publicly-traded firm headquartered in Vancouver, Canada, and listed on the Canadian Securities Trade (VST), Frankfurt Trade (6F6) and the OTCQX (VSTQF). For traders, we provide early-stage entry to the subsequent unicorns earlier than they’re unicorns. Our portfolio represents a clear, audited and liquid method for traders to get entry to the newest cutting-edge applied sciences. As a result of we concentrate on market-ready options that scale shortly, we’re in a position to present robust and secure returns whereas additionally tapping into rising international tendencies with massive upsides. For extra data, please go to www.victorysquare.com.
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FORWARD-LOOKING INFORMATION
This information launch incorporates “forward-looking data” throughout the which means of relevant securities legal guidelines regarding the outlook of the enterprise of Victory Sq., together with, with out limitation, statements regarding V2 Video games, the Non-public Placement, the conversion of the Debentures, using proceeds of the Non-public Placement, and different elements past our management. Such forward-looking statements could, with out limitation, be preceded by, adopted by, or embody phrases equivalent to “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “undertaking”, “potential”, “attainable”, “ponder”, “search”, “objective”, or related expressions, or could make use of such future or conditional verbs as “could”, “would possibly”, “will”, “may”, “ought to” or “would”, or could in any other case be indicated as forward-looking statements by grammatical building, phrasing or context. All statements apart from statements of historic info contained on this information launch are forward-looking statements. Ahead-looking data is predicated on sure key expectations and assumptions made by the administration of Victory Sq.. Though Victory Sq. believes that the expectations and assumptions on which such ahead wanting data is predicated are affordable, undue reliance shouldn’t be positioned on them as a result of Victory Sq. can provide no assurance that they are going to show to be right. Precise outcomes and developments could differ materially from these contemplated by these statements. The statements contained on this information launch are made as of the date of this information launch. Victory Sq. disclaims any intent or obligation to replace publicly any forward-looking data, whether or not on account of new data, future occasions or outcomes or in any other case, apart from as required by relevant securities legal guidelines. The Canadian Securities Trade has neither accredited nor disapproved the contents of this information launch and accepts no accountability for the adequacy or accuracy hereof.
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