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GlobeNewswire Victory Square Technologies Inc. ("Victory Square" or the "Company") (CSE:VST) (OTCQX:VSQTF) (FWB:6F6), a Venture Studio providing investors with VC-level investment access to the big ideas developed by heavy hitting startups from around the world, is pleased to announce that The Dripbar LLC ("The DRIPBaR"), will be a new partner company ("Partner") on Victory Square Digital Health's ("VSDH") white labeled software technology platform, effective April 1, 2022, to provide The DRIPBaR patients with a seamless and efficient digital health experience, and to support The DRIPBaR's growth and franchise potential. The DRIPBaR is a franchise operator focused on helping people obtain their best physical and mental health using intravenous therapies. Through advances in cellular and biological science, The DRIPBaR helps clients fight the consequences of chronic illness, address the effects of aging, and achieve a balanced wellness. The DRIPBaR aims to make their services accessible throughout the United States, to everyone looking to experience their full suite of vitamin therapy options which include, intramuscular quick shots, lifestyle drops, health support drips and oral supplements. The DRIPBaR will utilize VSDH's digital health platform, and digital pharmacy across their 19 locations, as well as offering their over 430 franchises (at various stages of development) the opportunity access VSDH's platform to take their medical businesses compliantly mobile, redefining their offering, and helping to meet their fundamental goal of supporting the best health for their clients. Shafin Diamond Tejani, CEO of Victory Square commented, "We are extremely pleased to have such a large franchise such as The DRIPBaR onboard. VSDH's White Label platform provides us with another avenue for revenue streaming, and demonstrates Victory Square's focus on digital health. This is a great opportunity for us to support The DRIPBaR's growth, and their vision of making their unique and sought after health services available to a large number of clients throughout the United States. We have been impressed with their growth through their franchises, and are pleased to be partnered with them to offer the very best in digital health." Ben Crosbie, CEO of DRIPBaR commented, "I've been vocal about our desire to bring a modern and accessible approach to help everyday people across America, and as such we have been researching platforms that would allow us to do just that. The VSDH platform provides seamless integration, creating an easy and simple user journey for our clients and allows our staff to facilitate client needs in an efficient manner. Being able to highlight these additional benefits of the platform will be a key component for our continued growth." This new relationship with VSDH allows The DRIPBaR to take their current brick and mortar business model into the mobile realm. The additional benefit to new franchisees will be the ability to open their businesses and start operating immediately (by utilizing the mobile drip and online pharmacy), while they wait for their physical locations to be built out. Terms and Pricing Model of The DRIPBaR and VSDH Agreement The DRIPBaR have signed up for an initial 5-year term, which will automatically renew unless terminated by either party. VSDH's White Label platform is also being added to The DRIPBaR franchise agreement as the exclusive digital pharmacy and mobile software provider. The pricing model will be a combination of an annual licensing fee, a revenue share on all booking revenue and revenue share on all pharmacy orders. Both VSDH and Hydreight IV (wholly owned subsidiaries of Victory Square) will benefit with the revenue stream of this transaction in the form of an annual licensing fee, a percentage of booking revenue and pharmaceutical sales. About VSDH's White Labeled Platform VSDH launched a white-label digital health platform (see press release dated March 7, 2021), that powers consumer health experiences for a wide range of health service providers (from individual practitioners and small boutiques to larger scaled businesses) on a business to business ("B2B") subscription model, which consists of a fixed annual rate and revenue sharing. This service also includes the setup of a virtual pharmacy facilitating online ordering, payment and processing all in one spot. The business model leverages decentralized healthcare to bring quality digital health (including medical, and health and wellness services) to all 50 states in the U.S., in an efficient, scalable and cost-effective way. |