- Victory Square to dividend out 12.4% of its holdings in GameOn Entertainment Technologies Inc. to its shareholders.
- Victory Square shareholders of record as of the close of business on Friday May 21, 2021 will be entitled to receive the Dividend.
- GameOn has filed its final prospectus with the British Columbia Securities Commission and received CSE conditional listing approval.
- The Company has also approved a strategic dividend reward initiative for portfolio company, Fantasy 360 Technologies Inc. dba Immersive Tech. Further details regarding this reward are forthcoming.
VANCOUVER, British Columbia, May 19, 2021 — Victory Square Technologies Inc. (“Victory Square” or “VST”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) is pleased to announce that it has declared a special dividend on its common shares (the “Dividend”). The Dividend represents approximately 12.4% of Victory Square’s holdings in GameOn Entertainment Technologies Inc. (“GameOn”). GameOn recently received conditional approval for listing on the Canadian Securities Exchange (“CSE”) and is expected to commence trading in early June, subject to satisfying the remaining conditions for listing of Canadian Securities Exchange (CSE) and is proposed to be listed under the symbol (CSE:GET). For more information regarding GameOn, please refer to its final prospectus filed on May 14, 2021, which is available at www.sedar.com.
The Dividend will consist of approximately 2,000,000 common shares of GameOn. Victory Square shareholders of record as of the close of business on May 21, 2021, will be entitled to receive the Dividend at a rate of 20.74989 GameOn shares for each 1,000 Victory Square shares held (approximately 48 to 1 ratio). The Dividend ratio is based on 96,386,043 Victory Square shares outstanding as of the date hereof. No fractional GameOn shares will be issued as part of the Dividend. The shares of Victory Square will commence trading on an ex-dividend basis on May 20, 2021. The Dividend will be payable on Thursday May 27, 2021.
In conjunction with the Company’s long-term strategy to maximize shareholder value, the board of directors of the Company has also approved a strategic dividend reward initiative to unlock the intrinsic value of its other portfolio company, Fantasy 360 Technologies Inc. dba Immersive Tech by proposing a distribution of a portion of the common shares of that company currently held by VST to shareholders of the Company. Further details about this transaction proposal will be announced by the company.
On behalf of the Board of Directors
Shafin Diamond Tejani
Director and Chief Executive Officer
Victory Square Technologies Inc.