Victory Sq. Applied sciences Publicizes Late Submitting of Annual Monetary Statements and MD&A

Victory Square Technologies Inc.

Victory Sq. Applied sciences Inc.

VANCOUVER, British Columbia, April 29, 2022 (GLOBE NEWSWIRE) — Victory Sq. Applied sciences Inc. (“Victory Sq.” or “VST”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) publicizes that on account of delays to its audit, the Firm’s annual monetary statements and accompanying administration’s dialogue and evaluation for the fiscal 12 months ended December 31, 2021 (the “Annual Filings”) will not be anticipated to be finalized by Might 2, 2022, being the date that such filings are due beneath relevant Canadian securities regulation necessities. The Firm has utilized for a administration stop commerce order (the “MCTO“) by the British Columbia Securities Fee.

The rationale for the anticipated delay is because of the complexity of the valuation course of and accounting of one of many acquisitions accomplished by the Firm within the fiscal 12 months and enhanced qc by the issuers auditors. The auditors have requested extra time for accomplice and guide evaluate as a part of these enhanced measures. The Firm is working with its auditor (Dale Matheson Carr-Hilton LaBonte LLP) to finish the audit in a well timed method.

The Firm at present expects to file the Annual Filings on or earlier than Might 17, 2022 and can challenge a information launch saying completion of such filings at such time. Till the Firm recordsdata the Annual Filings, it is going to adjust to the choice data tips set out in Nationwide Coverage 12-203 – Administration Stop Commerce Orders for issuers who’ve did not adjust to a specified steady disclosure requirement inside the occasions prescribed by relevant securities legal guidelines. The rules, amongst different issues, require the Firm to challenge bi-weekly default standing reviews by the use of a information launch as long as the Annual Filings haven’t been filed.

Through the MCTO, the final investing public will proceed to have the ability to commerce within the Firm’s listed widespread shares. Nonetheless, the Firm’s chief government workplace and chief monetary officer won’t be able to commerce within the Firm’s widespread shares.

On behalf of the Board of Administrators

Shafin Diamond Tejani
Director and Chief Government Officer
Victory Sq. Applied sciences Inc.
www.victorysquare.com

For additional details about Victory Sq., please contact:

Investor Relations Contact – Abbey Vogt
E-mail: [email protected]
Phone: 604 283-9166

Media Relations Contact – Peter Smryniotis, Director
Phone: 604 283-9166

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

Victory Sq. (VST) builds, acquires and invests in promising startups, then supplies the senior management and sources wanted for fast-track progress. VST’s candy spot is cutting-edge tech that’s shaping the 4th Industrial Revolution. Our company portfolio consists of 20+ international corporations utilizing AI, VR/AR, and blockchain to disrupt sectors as numerous as fintech, insurance coverage, well being and gaming.

What we do otherwise for startups

VST isn’t your atypical investor. With actual pores and skin within the sport, we’re dedicated to making sure every firm in our portfolio succeeds. Our secret sauce begins with choosing startups which have actual options, not simply concepts. We pair you with senior expertise in product, engineering, buyer acquisition and extra. Then we allow you to do what you do greatest — construct, innovate and disrupt. In 24-36 months, you’ll scale and be able to monetize.

What we do otherwise for buyers

For buyers, we provide early-stage entry to the subsequent unicorns earlier than they’re unicorns. Our portfolio represents a uniquely liquid and safe means for buyers to get entry to the newest cutting-edge applied sciences. As a result of we give attention to market-ready options that scale shortly, we’re in a position to present sturdy and steady returns whereas additionally tapping into rising international traits with large upsides.

VST is a publicly-traded firm headquartered in Vancouver, Canada, and listed on the Canadian Securities Change (VST), Frankfurt Change (6F6) and the OTCQX (VSQTF).

For extra data, please go to www.victorysquare.com

ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)

The Canadian Securities Change, or CSE, is operated by CNSX Markets Inc. Acknowledged as a inventory change in 2004, the CSE started operations in 2003 to supply a contemporary and environment friendly different for corporations seeking to entry the Canadian public capital markets.

Ahead-Wanting Data

This information launch accommodates “forward-looking data” and “forward-looking statements” (collectively, “forward-looking data”) inside the that means of relevant securities legal guidelines. Ahead-looking data is usually identifiable by use of the phrases “believes,” “might,” “plans,” “will,” “anticipates,” “intends,” “may”, “estimates”, “expects”, “forecasts”, “tasks” and related expressions, and the detrimental of such expressions. Ahead-looking data on this information launch might embrace statements concerning the anticipated submitting of the Annual Filings in addition to the grant of a MCTO.

Ahead-looking data is topic to identified and unknown dangers, uncertainties and different components which will trigger VST’s precise outcomes, degree of exercise, efficiency or achievements to be materially totally different from these expressed or implied by such forward-looking data. Ahead-looking data relies on the affordable assumptions, estimates, evaluation and opinions of administration made in mild of its expertise and notion of traits, present circumstances and anticipated developments, and different components that administration believes are related and affordable within the circumstances on the date such statements are made together with, with out limitations, data based mostly on the present state of the Annual Filings and discussions with the auditors of the Firm. Though Victory Sq. has tried to establish necessary components that might trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different components that trigger outcomes to not be as anticipated. There will be no assurance that such data will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such data, and there’s no assure the Annual Filings will likely be made on the timeline at present anticipated or in any respect or that an MCTO will likely be granted. If the MCTO will not be granted and/or the Annual Filings will not be filed on time or topic to extra delays, the securities of the Firm might be topic to a stop commerce order or different actions taken by the securities regulators and/or exchanges. Accordingly, readers shouldn’t place undue reliance on forward-looking data. All forward-looking data herein is certified in its entirety by this cautionary assertion, and Victory Sq. disclaims any obligation to revise or replace any such forward-looking data or to publicly announce the results of any revisions to any of the forward-looking data contained herein to mirror future outcomes, occasions or developments, besides as required by regulation.

Neither the CSE nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the CSE) accepts accountability for the adequacy or accuracy of this launch.

The post Victory Sq. Applied sciences Publicizes Late Submitting of Annual Monetary Statements and MD&A appeared first on India Express Online.

Source: Around the Globe

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