Shares of Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FRANKFURT: 6F6) (WKN: A2AKL8) are up 21.5% after the company this morning said it will acquire 31.35% of all issued and outstanding shares of PayVida Solutions Inc. for $1,900,000 CAD, subject to all requisite regulatory approvals. PayVida, an emerging payment processing company, will soon be launching its global payment facilitator platform that enables merchants to receive same day funding of daily credit and debit card transactions on PayVida’s branded MasterCard®. Per the terms of the agreement, the purchase price will be completed through cash installments of $1,250,000 until paid in full on April 1, 2018, as well as the issuance of $650,000 in value of common shares of Victory Square. “Through our venture builder model, we are able to identify great candidates for growth and provide them with expertise in a number of functional areas such as product enhancements, sales strategy, go to market, and customer retention to name a few. This type of value add has allowed us to not only attract quality companies, but has provided us the privilege of building a world class portfolio of companies ripe to emerge as leaders in their respective industries,” Victory Square CEO Shafin Diamond Tejani stated in the news release.
To view the full press release, visit http://ibn.fm/XJbPx
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.
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.