As part of the Company’s long-term strategy to maximize shareholder value, the Victory Square Technologies board of directors has approved a strategic initiative to unlock the intrinsic value of its portfolio company, GameOn Entertainment Technologies Inc. by proposing a dividend distribution of a portion of the common shares of GameOn held by the Company at the time of listing of the Shares to the shareholders of the Company.
VANCOUVER, British Columbia, Feb. 25, 2021 — Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTC:VSQTF)(FWB:6F6) is pleased to announce that, as part of the Company’s long-term strategy to maximize shareholder value, the board of directors of the Company has approved a strategic dividend reward initiative to unlock the intrinsic value of its portfolio company, GameOn Entertainment Technologies Inc. (“GameOn”) by proposing a distribution of a portion of the common shares of GameOn currently held by the Company to shareholders of the Company. Victory Square will evaluate, consider and assess the mechanism by which to effect such distribution on a tax efficient and financially prudent basis, with the aim of ultimately capitalizing GameOn as a stand-alone publicly listed entity, following its public listing.
Shafin Diamond Tejani, Chief Executive Officer of Victory Square, commented: “The objective of the share dividend initiative is to reward the Company’s shareholders with equity in GameOn as it progresses towards listing as a standalone publicly traded company. This will also enable the capital markets to appropriately value one of our portfolio investments.”
“This is the first of what we hope to be many share dividend initiatives that we wish to provide VST shareholders as we grow and realize appreciating assets,” said Tejani.
Founded in 2018, GameOn Entertainment Technologies empowers sports and entertainment content providers with the world’s simplest and most accessible gamification platform. Whether it’s supporting TV networks, OTT platforms, sportsbooks or leagues, GameOn helps partners turn their content — everything from sports to reality TV — into interactive and social experiences via mobile and TV apps.
In anticipation of its stand-alone public listing, GameOn has recently announced an upsized private placement due to strong investor demand as well as strategically growing its board and Advisory Council bringing on noted and respected colleagues in the sports, entertainment, gaming and wagering spaces.
Feb. 23, 2021
Former Soccer Star Tim Cahill Joins Victory Square Technologies Portfolio Company GameOn Entertainment Technologies as Strategic Advisor
Sports industry veterans Boris Gartner (CEO of LaLiga North America) and Shauna Griffiths (CEO of SLG Impact) also join as the company continues to empower sports and entertainment content providers with the world’s simplest and most accessible gamification platform
Feb. 22, 2021
GameOn Entertainment Technologies Inc. Announces Upsizing of Its Previously Announced Private Placement for Up to an Aggregate of $3 Million Due to Strong Investor Demand
GameOn has increased the size of its previously announced non-brokered private placement of subscription receipts of GameOn from $1.5 million to $3 million due to strong investor demand.
Feb. 19, 2021
GameOn Entertainment Applauds Advancing Legislation to Legalize Single-Event Sport Wagering in Canada
GameOn provides legalized sportsbooks with gaming software solutions, including patent-pending first-screen technology that lets fans make bets with remote controls
Feb. 11, 2021
Gaming Veteran Mike Vorhaus Joins Victory Square Technologies Portfolio Company, GameOn Entertainment Technologies as Advisor
Vorhaus has decades of experience investing in and advising startups.Investments and exits include Digene, which sold for $1.6 billion; Widevine, which sold to Google for $290 million; Tenor, which sold to Google; and Vivox, which sold to Unity Technologies. Vorhaus was a seed investor in DraftKings and Skillz, which both went public in 2020.
Feb. 08, 2021
Victory Square Technologies Portfolio Company, GameOn Entertainment Announces J Moses as Chairman of Board of Directors
Game industry veteran spearheads the Board as the company continues to empower sports and entertainment content providers with the world’s simplest and most accessible gamification platform
Subject to all requisite regulatory approvals, the mechanism, timing and quantum of any such future distribution will be subject to the determination of the Company’s board of directors, in its sole discretion, taking into account, among other things, liquidity, financial condition, corporate strategy, tax implications, market trends and other capital market considerations. The complete plan of distribution of GameOn entertainment in shares will be announced upon listing and is subject to company’s board of directors and CSE approval.
Further to the Company’s press release dated February 23, 2021, the Company announces that the exercise price of the 150,000 incentive stock options granted to a consultant of the Company has been revised to $0.94. All other terms remain as previously announced.
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On behalf of the board,
Shafin Diamond Tejani
Chief Executive Officer
Victory Square Technologies