NetworkNewsBreaks – Victory Square Technologies
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Posted On: 02/07/2018 8:01:44 PM
NetworkNewsBreaks – Victory Square Technologies Inc. (CSE: VST) (OTC: VSQTF) (FRA: 6F6) (WKN: A2AKL8) to Acquire Stake in Payment Processing Company PayVida
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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