Victory Square Technologies closes $5M financing Mehdi Khimji

News Release


VANCOUVER, BRITISH COLUMBIA, CANADA (November 23, 2017) – Further to its news release of November 17, 2017, Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST)(OTC:VSQTF)(FWB:6F6) is pleased to announce it has closed its non-brokered private placement offering (the “Offering”) issuing 6,666,667 units (the “Units”, and each a “Unit”) to strategic investor, Mehdi Khimji.

Each Unit, consisting of one common share and one-half of one common share purchase warrant, was issued at a price of $0.75, thereby raising gross proceeds of $5,000,000. Each whole Warrant entitles the holder to purchase one additional common share of the Company at a price of $1.50 for a period of 12 months from the date of issuance.

All of the securities issued pursuant to the Offering are subject to a statutory hold period of four months and the proceeds from the Offering will enable Victory Square, as an early proponent of Blockchain entrepreneurs to fund acquisitions of, and investments in, emerging blockchain technology opportunities in order to further the Company’s blockchain vertical.

Mr. Khimji, a co-founder of Highgate Capital Inc., is an industry-leading investor and manager of hospitality assets throughout the United States and Europe. He has also made several successful venture capital investments in the technology and gaming sectors and, with 30 years’ experience in hospitality, gaming and venture capital, he is an ideal strategic investor for Victory Square.

Mr. Khimji now holds 6,666,667, representing approximately 10.7% of the issued and outstanding shares of the Company. In addition, he holds Warrants to purchase a further 3,333,334 common shares.

Assuming full exercise of the Warrants, Mr. Khimji would hold 10,000,001 common shares or approximately 14.5% of the then issued and outstanding common shares of the Company. He has purchased the securities for investment purposes and may, depending on market and other conditions, or as future circumstances may dictate, from time to time, increase, dispose, or convert, as the case may be, some or all of the securities he will hold, or may continue to hold his position.

A copy of the early warning report filed in connection with the aforementioned investment is available on the Company’s profile on SEDAR at or may be obtained by contacting Rick Whitworth at 972-444-9700.

For further information about the Company, please contact:
Howard Blank, Director
Telephone: 604-928-6066