VANCOUVER, British Columbia, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Vancouver-based Victory Square Technologies Inc. ("Victory Square" or the "Company") (CSE: VST, OTCQX: VSQTF, FWB: 6F6) is providing seed capital to establish Grow Tech Labs as a dynamic business accelerator in the cannabis sector. It will be focused on Canadian and international companies innovating in the medical and recreational cannabis industry.

This marks the latest in a series of cannabis-related investments which Victory Square has made over the past three years. In 2015-16, the Company worked with cannabis pioneers and thought leaders Tantalus Labs, which opened Canada’s first closed-system greenhouse and launched a new phase of agricultural medical cannabis production in Canada (www.tantaluslabs.com).

Earlier this year, Victory Square announced a strategic partnership with Cannabis Wise to establish a national cannabis certification program for Canada’s post-prohibition marketplace (www.cannabiswise.com).

“We’re closely watching and engaged in what is a fast-moving marketplace for medical and recreational cannabis and appreciative of what innovation in the space will mean to the industry in British Columbia and across Canada,” said Shafin Diamond Tejani, CEO of Victory Square Technologies.

Tejani noted the Grow Tech Labs Accelerator will be formally launched next month, in association with the legalization of cannabis in Canada. Additional investments and project partners will be announced over the coming weeks and months.

“Grow Tech Labs will attract a new and diverse generation of cannabis sector leaders to Vancouver through world-class programs that apply innovative technology and deliver education rooted in entrepreneurship, mentorship and social responsibility,” said Tejani. “We look forward to seeing Grow Tech Labs push the envelope of best practices in the field, from opportunities for female entrepreneurs and Indigenous companies to collaborative sector-wide partnerships.”

To help reaffirm British Columbia’s status as a global cannabis capital for excellence and innovation, Grow Tech Labs will:

  • Provide direct support, access to capital, mentorship and licensed space to locate innovative start-up Canadian companies in BC.
  • Attract international investment to BC’s cannabis sector.
  • Accelerate the participation of small BC producers and processors in the legal marketplace.
  • Establish dedicated programming for female-founded and Indigenous-founded/owned companies.
  • Establish partnerships with community, business and education organizations.

Victory Square, is a technology accelerator that uses its experience, expertise and resources to help grow and scale its 23 portfolio companies who are working on innovative and disruptive projects in every sector of the global economy, including Finance, Health, Cannabis, Real Estate, Insurance, Entertainment and Education.

The Company provides investors with a curated portfolio of emerging technology companies focused on: Artificial Intelligence (“AI”), Blockchain, Esports, Virtual Reality (“VR”), and Augmented Reality (“AR”), with the ability to provide significant upside to shareholders through monetization strategies that include IPO’s, RTO’s, and M&A activity.”

The Company also advises, further to its news release dated July 31, 2018, it has converted an aggregate of $805,240.47, the majority of which comprises loans advanced to the Company by Shafin Diamond Tejani, Chief Executive Officer of Victory Square, into common shares in the capital of the Company (the “Shares”) at a deemed value of $1.00 per Share. 

All Shares issuable to satisfy the amount payable are subject to a four-month hold period under applicable Canadian securities laws.

For further information about the Company, please contact:

Investor Relations Contact - Prit Singh 
Email: prit@victorysquare.com
Telephone: 905-510-7636

Company Contact – Shafin Diamond Tejani, CEO and Director
Email: media@victorysquare.com
Telephone: 604-283-9166

ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square Technologies (VST) is an accelerator with 20+ portfolio companies focused on emerging technologies such as: Blockchain, Machine Learning, Artificial Intelligence and VR/AR. It has a proven process for identifying and investing in extraordinary start-ups which are working on innovative and disruptive projects in every sector of the global economy, including Finance, Health, Real Estate, Insurance, Entertainment and Education. Victory Square uses its expertise and resources to help grow and scale these portfolio companies, which results in significant returns for VST and its shareholders. For more information, please visit www.victorysquare.com.

ABOUT THE CANADIAN SECURITIES 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 looking to access the Canadian public capital markets.

FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance by any portfolio company of the Company, the impact of any portfolio company’s performance on the Company, the strategic direction of the Company, and its goal of broadening its portfolio of interests in innovative companies. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical fact contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.