NetworkNewsBreaks – Victory Square Technologies
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Posted On: 02/22/2018 7:16:11 PM
NetworkNewsBreaks – Victory Square Technologies Inc. (CSE: VST) (OTC: VSQTF) (FRA: 6F6) (WKN: A2AKL8) Enters Agreement to Acquire Stake in Howyl Ventures Inc.
Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FRANKFURT: 6F6) (WKN: A2AKL8) this morning said that it will acquire 28.5% of all issued and outstanding shares of Howyl Ventures Inc. including its decentralized project marketplace platform, Capaciti, for $1,000,000 CAD, subject to all requisite regulatory approvals. Per the agreement, the total purchase price will be satisfied through cash installments totaling $100,000 and the issuance of 364,372 common shares in the capital of Victory Square to the shareholder(s) of Howyl at a deemed issue price of $2.47 per share. In accordance with the terms of the agreement, the shares shall be subject to resale restrictions, which permit 8% of the shares to be eligible to be free-trading four months from the date of issuance to satisfy the statutory hold period and an additional 8% every three months after. “Howyl’s existing global talent marketplace, combined with deep industry expertise and an exceptionally strong management and technical team, will bring Victory Square into another technology-driven vertical that will experience rapid growth over the next 10 years,” 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
Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FRANKFURT: 6F6) (WKN: A2AKL8) this morning said that it will acquire 28.5% of all issued and outstanding shares of Howyl Ventures Inc. including its decentralized project marketplace platform, Capaciti, for $1,000,000 CAD, subject to all requisite regulatory approvals. Per the agreement, the total purchase price will be satisfied through cash installments totaling $100,000 and the issuance of 364,372 common shares in the capital of Victory Square to the shareholder(s) of Howyl at a deemed issue price of $2.47 per share. In accordance with the terms of the agreement, the shares shall be subject to resale restrictions, which permit 8% of the shares to be eligible to be free-trading four months from the date of issuance to satisfy the statutory hold period and an additional 8% every three months after. “Howyl’s existing global talent marketplace, combined with deep industry expertise and an exceptionally strong management and technical team, will bring Victory Square into another technology-driven vertical that will experience rapid growth over the next 10 years,” 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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