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 “Personal Placement”) of unsecured convertible debentures (every, a “Debenture”) for gross proceeds of $3,000,000.
Every Debenture issued pursuant to the Personal Placement has a difficulty worth of $1,000, a time period of two years from the date of issuance and can accrue curiosity at a charge 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 cell sport ventures agency specializing in royalty investments in high-value gaming tasks that includes globally-recognized mental properties. The corporate generates money circulate by streaming income share from recognizable gaming tasks. Examples of those tasks embrace: Pacific Rim: Breach Wars, Rune: Ragnarok, and Hey Kitty. V2 Video games beforehand developed the hit cell sport PAC-MAN Bounce, which acquired 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 just lately acquired an extra $150,000 USD funding from SnapChat.
V2 Video games intends to make use of the web proceeds of the Personal Placement for investments in royalty producing gaming tasks, common working capital functions and to organize for an association to probably spin-out V2 Video games.
“It has been thrilling to witness and be part of the speedy 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 the direction of the association to spin-out V2 Video games.”
“With extra funding into V2 Video games, we’re excited to put the groundwork for our potential 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 supplies the senior management and sources wanted to fast-track development. The end result: speedy scale-up and monetization, with a stable observe 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 world firms utilizing AI, VR/AR and blockchain to disrupt sectors as numerous as fintech, insurance coverage, well being and gaming.
What we do otherwise 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 deciding on 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 greatest — construct, innovate and disrupt.
What we do otherwise for traders
VST is a publicly-traded firm headquartered in Vancouver, Canada, and listed on the Canadian Securities Change (VST), Frankfurt Change (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 manner for traders to get entry to the most recent cutting-edge applied sciences. As a result of we deal with market-ready options that scale shortly, we’re capable of present robust and secure returns whereas additionally tapping into rising world developments with large upsides. For extra info, please go to www.victorysquare.com.
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FORWARD-LOOKING INFORMATION
This information launch incorporates “forward-looking info” inside the which means of relevant securities legal guidelines referring to the outlook of the enterprise of Victory Sq., together with, with out limitation, statements referring to V2 Video games, the Personal Placement, the conversion of the Debentures, the usage of proceeds of the Personal Placement, and different elements past our management. Such forward-looking statements could, with out limitation, be preceded by, adopted by, or embrace phrases akin to “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “challenge”, “potential”, “potential”, “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 development, phrasing or context. All statements apart from statements of historic information contained on this information launch are forward-looking statements. Ahead-looking info relies 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 info relies are affordable, undue reliance shouldn’t be positioned on them as a result of Victory Sq. may give no assurance that they are going to show to be appropriate. 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 info, whether or not because of new info, future occasions or outcomes or in any other case, apart from as required by relevant securities legal guidelines. The Canadian Securities Change has neither accepted nor disapproved the contents of this information launch and accepts no duty for the adequacy or accuracy hereof.
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