VANCOUVER, British Columbia, April 16, 2020 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. ("Victory Square" or the "Company") (CSE:VST) (OTC:VSQTF) (FWB:6F6)
Dear Fellow Shareholders,
I hope this message finds everyone safe and healthy during this difficult time. The past several months have brought unprecedented challenges around the world. At the same time, we’ve been inspired by so many incredible examples of individuals and companies going above and beyond. Close to home, our charitable partners like KidSafe continue to provide nutritious meals to children in need, while WE has assembled an entire toolkit for families facing stress and anxiety. If we at Victory Square can help you right now with expertise, advice or support, please reach out to me directly. We are a resource for you.
I wanted to take this opportunity to update you on the status of Victory Square Technologies and our portfolio companies. We have always taken a long-term investment approach, preparing for an economic shift well in advance of COVID-19 by ensuring adequate cash on hand while scrupulously vetting our companies for profitability and growth potential. Although the current conditions are challenging, we are well positioned to not only endure the downturn ahead but to emerge from it stronger than ever.
Our portfolio consists of companies powering the 4th Industrial Revolution, the wholesale transformation of society brought about by connected, digital technologies. Our businesses are not built around short-term plays or fleeting trends. They represent pillars of the future economy: artificial intelligence, augmented and virtual reality (AR and VR), blockchain, cyber security and more. The current crisis has already validated and accelerated many of the verticals and technologies that Victory Square invests in:
- Esports and online gaming are surging in the absence of live sports. Two of our portfolio companies, Fansunite and V2 Games provide investors with the opportunity to tap into the $150 billion gaming market.
- Online learning has emerged as a critical resource, and Next Decentrum is building the infrastructure that makes this possible.
- As digital networking replaces in-person prospecting, CoPilot Advisor’s tools for automating social connections are experiencing surging demand.
- AR and VR are more important than ever during social distancing. Our portfolio companies, Immersive Tech and Shape Immersive are at the forefront of bringing real-life experiences to homes and offices.
- From growing demand for decentralized finance technology (Covalent) to increased use of cloud services (Taloflow) to extra needs for secure data (Bluzelle), we’ve seen the crisis accelerate so many of VST’s core sectors.
Looking ahead, the crisis is sure to spur continued innovation, as businesses and entire sectors reorient and new market demands continue to emerge. I realize that not all sectors will thrive during the downturn, and many businesses are facing stark choices right now. For me, it’s critical to be respectful of those challenges, while also acknowledging the opportunities for Victory Square and our portfolio companies. Downturns offer openings to make strategic acquisitions at a significant discount, enabling us to expand influence in key sectors. The talent market has shifted and senior team members can now be added to our existing rosters. Debt and financing are in high demand among companies with limited capital reserves, opening up new revenue streams. As Warren Buffett has noted, “Cash combined with courage in a time of crisis is priceless.” We’re positioned to take advantage of all of these trends, enabling us to grow our portfolio companies and add value in the months and years ahead.
While much remains uncertain at the moment, one thing is clear: the pandemic will pass and we will collectively emerge stronger from it. As a society, we’ve been tested before, through wars, health and humanitarian challenges and economic setbacks. In each instance, these trials unleashed unprecedented innovation and growth. Although it might be difficult to see now, this crisis will be no different. Businesses which are able to channel their resources and remain and take an offensive approach will emerge far stronger, as we’ve seen so many times in the past. It’s no coincidence that some of the most dominant technology companies today, including Netflix and Amazon, counted the Great Recession as an inflection point. They were able to seize new ground, gaining customers and improving technologies, as legacy players stumbled. And they never looked back.
First, we must help each other get through the challenges of today, this week and this month. Please take care of yourself, your loved ones and your community. Nothing is more important than your health and safety. In the midst of today’s trials, hold tight to your North Star — the inspiration that drives you forward. Together, we will get through this.
Best,
Shafin Diamond Tejani
Chairman and Chief Executive Officer
Victory Square Technologies
Check out VictorySquare.com and sign up to VST's official newsletter at VictorySquare.com/newsletter.
For further information about the Company, please contact:
Investor Relations Contact – Alex Tzilios
Email: alexandros@victorysquare.com
Telephone: 778-867-0482
Media Relations Contact – Howard Blank, Director
Email: howard@victorysquare.com
Telephone: 604-928-6066
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn't just another investor. With real skin in the game, we're committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize.
What we do differently for investors
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSTQF). For investors, we offer early-stage access to the next unicorns before they're unicorns. Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we're able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward Looking Statement
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries, including Fantasy 360 Technologies Inc. (dba as Fansunite Entertainment), V2 Games Inc., and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
