Shares of Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FRANKFURT: 6F6) (WKN: A2AKL8) are up 8.7% after the company this morning said it intends to acquire 100% of all issued and outstanding shares of V2 Games Inc. at a purchase prices of $2,000,000 CAD, subject to all requisite regulatory approvals. V2 Games is an established mobile games studio with an impressive portfolio of highly-rated entries on the Apple Store listings. In accordance to the definitive share purchase agreement to be executed between the company and the shareholder(s) of V2 Games, the purchase price will be paid by the company through the issuance of 1,030,928 common shares to the shareholder(s) of V2 Games at a deemed issue price of $1.94 per consideration share. The consideration shares will be subject to resale restrictions, permitting 8% of the shares to be eligible to be free trading four months from the date of issuance and a further 8% every three months thereafter until the final balance of shares is eligible to be free-trading. “Given the full and total philosophical alignment between our companies, we are of course excited and proud to announce the acquisition of V2 Games, a leading mobile games developer based in Vancouver, Canada,” said Victory Square CEO Shafin Diamond Tejani stated in the news release.
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About Victory Square Technologies Inc.
Victory Square Technologies is a blockchain-focused venture builder that funds and empowers entrepreneurs to implement innovative blockchain solutions. Victory Square portfolio companies are disrupting every sector of the global economy including Virtual Reality, Artificial Intelligence, Personalized Health, Gaming and Film. Victory Square has a proven process for identifying game-changing entrepreneurs and providing them with the partners, mentorship and support necessary to accelerate their growth and help them scale globally. For more information, please visit www.VictorySquare.com.
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