Victory Square Technologies Pr –

VANCOUVER, British Columbia, May 27, 2022 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (“Victory Square” Where “VST”) (CSE:VST) (VSQTF, Financial) (FWB: 6F6) provides this default bi-weekly status report in accordance with the Alternative Disclosure Guidelines set forth in National Policy 12-203 – Management cease trade orders (“NP 12-203”).

The Company announced on April 29, 2022 that it had requested a management cease trade (“MCTO« »Annual deposits“) would not be filed before the applicable filing deadline of May 2, 2022 (the “Default Announcement”). The Company announced that the MCTO was published on May 4, 2022. The MCTO prohibits the Chief Executive Officer and Chief Financial Officer from any trading in Company securities until annual filings have been filed by the Company and that the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.

The preparation of the annual filings also impacted the timely completion of the company’s interim financial statements, accompanying the MD&A for the quarter ended March 31, 2022 and associated CEO certifications. management and the chief financial officer (the “Provisional documents”). The completion of the interim filings is dependent on the results contained in the annual filings and therefore the Company will not be able to file the interim filings prior to the reporting deadline of May 30, 2022.

The Company and its auditors continue to work diligently to complete annual filings and interim filings as soon as possible, and anticipates that it will be able to file annual filings no later than June 3, 2022 and interim filings no later than on June 6, 2022.

The Company confirms that since the date of the Notice of Default, other than as described herein: (i) there has been no material change in the information contained in the Notice of Default which has not been generally disclosed; (ii) there has been no failure by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative disclosure guidelines set forth in NP 12-203; (iii) there has been no other default specified by the Company under IG 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company confirms that it will continue to satisfy the provisions of the alternative disclosure guidelines set forth in IG 12-203 as long as it remains in default of the requirement to file annual filings.

On behalf of the Board of Directors

Shafin Diamond Tejani
Director and CEO
Victory Square Technologies Inc.

For more information on Place de la Victoire, please contact:

Investor Relations Contact – Abbey Vogt
E-mail: [email protected]
Telephone: 604 283-9166

Media Relations Contact – Peter Smyrniotis, Director
Telephone: 604 283-9166


Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior management and resources needed for rapid growth. VST’s sweet spot is the cutting-edge technology shaping the 4th Industrial Revolution. Our portfolio of companies consists of over 20 global companies using AI, VR/AR and blockchain to disrupt industries as diverse as fintech, insurance, healthcare and gaming.

What we do differently for startups

VST is not your ordinary investor. With real skin in the game, we are committed to ensuring the success of every business in our portfolio. Our secret sauce starts by selecting startups that have real solutions, not just ideas. We match you with experienced 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 will scale and be ready to monetize.

What we do differently for investors

For investors, we provide early access to upcoming unicorns before they are unicorns. Our wallet represents a unique, liquid and secure way for investors to access the latest cutting-edge technologies. Because we focus on market-ready solutions that scale rapidly, we are able to deliver strong and stable returns while capitalizing on emerging global trends with big upsides.

VST is a publicly traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Stock Exchange (6F6) and OTCQX (VSQTF, Financial).

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The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies seeking access to the Canadian public capital markets.

Forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identifiable by the use of the words “believes”, “may”, “plans”, “will”, “anticipates”, “intends”, “could”, “estimates”, “s ‘expects’, ‘plans’. », « projects » and similar expressions, as well as the negative of these expressions. Forward-looking information in this press release may include statements about the expected filing of annual and interim filings, the company’s continued ability to meet the disclosure guidelines set forth in NP 12-203 as well as the duration of the MCTO.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause VST’s actual results, level of activity, performance or achievements to differ materially from those expressed. or implied by such forward-looking information. Forward-looking information is based on management’s reasonable assumptions, estimates, analyzes and opinions in light of its experience and perception of trends, current conditions and expected developments, and other factors that management deems relevant and reasonable in the circumstances as of the date such statements are made, including, without limitation, information based on the current status of annual and interim filings, and discussions with auditors of the Company. Although Victory Square has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information, and there can be no assurance that annual filings and/or interim filings will be made on time. currently expects that the Company will continue to be able to meet the requirements of NP 12-203 or that the OCTM will not be revoked and replaced by a cease trade order. If the securities authorities determine that the Company has not complied with the OCTM, the annual documents and/or interim documents are not filed on time or are subject to additional delays, or the Company does not is unable to continue to meet the requirements of NP 12-203, the securities of the Company could be subject to a cease trade order or other measures taken by securities regulatory authorities and/or or scholarships. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained herein is qualified in its entirety by this cautionary statement, and Victory Square disclaims any obligation to revise or update such forward-looking information or to publicly announce the outcome of any revisions to any forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.


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