Victory Square Technologies provides a progress report on

VANCOUVER, British Columbia, May 13, 2022 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (“Victory Square” or “VST”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) provides this default bi-weekly status report in accordance with the Alternative Information Guidelines set out 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 (“MCTOAnnual deposits“) would not be filed before the applicable filing deadline of May 2, 2022 (the “Default Announcement”). The Company announced that the MCTO was issued 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 Company and its auditors continue to work diligently to complete the annual filings as soon as possible and continue to expect to be able to file the annual filings no later than May 20, 2022.

The Company confirms that since the date of the Default Notice: (i) except as described above, there have been no material changes in the information contained in the Default Notice 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.
www.victorysquare.com

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 Smryniotis, Director
Telephone: 604 283-9166

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

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).

For more information, visit www.victorysquare.com

ABOUT THE CANADIAN SECURITY EXCHANGE (CSE)

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 documents, 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 believes 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 filings and discussions with the Company’s auditors. 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 will be made within the time currently anticipated, 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, that the annual documents are not filed on time or are subject to additional deadlines, or that the Company is unable to continue to meet the requirements of IG 12-203, the Company’s securities may be subject to cease trading or other action by securities regulators and/or stock exchanges. 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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