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VANCOUVER, British Columbia, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (Victory Square or Company) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that provides investors access to a diverse portfolio of next generation technology companies in key sectors including: the Creator Economy, Digital Health, Gaming, Web 3.0, VR/AR and Green Tech, announces it has filed its consolidated condensed interim financial statements and associated managements discussion and analysis (MD&A) for the three and six months ended June 30, 2021.

"Q2 2021 was another strong quarter for Victory Square in which we achieved a sixth consecutive quarter with positive net income & earnings per share, issued a share dividend, and listed GameOn (CSE:GET). In addition to closing our investment in Stardust Solar Technologies Inc. (Stardust), we closed an oversubscribed financing for Immersive, launched DiscreetCare.com and Covalent Network Corporation completed a $10,000,000 USD public sale of their CQT token, said Shafin Diamond Tejani, Chief Executive Officer of Victory Square.

Financial Highlights for the three months ending June 30, 2021:

Financial Highlights for the six months ending June 30, 2021:

*During the three months ended June 30, 2021, the company had net income from continuing operations of $1,144,572, adjusted for non-cash costs for share based payments of $519,548, and non-controlling interest for the period of $558,060, the adjusted net income of the Company was $2,222,180. Adjusted basic earnings per share was $0.02 and diluted earnings per share was $0.02.

* During the six months ended June 30, 2021, the Company had net income from continuing operations of $4,583,453, adjusted for non-cash costs for share-based payments of $2,085,606 and non-controlling interest for the period of $984,196, the adjusted net income of the Company was $7,653,255. Adjusted basic earnings per share was $0.08 and diluted earnings per share was $0.07.

The Companys consolidated financial statements for the quarter ending June 30, 2020 along with its MD&A are available under the Companys profile on SEDAR at http://www.sedar.com.

Business Highlights for the three months ending June 30, 2021:

April 2021

May 2021

June 2021

Subsequent business highlights to June 30, 2021:

July 2021

August 2021

Outlook:

The Company expects to focus on the following primary goals for the next 90 - 120 days are:

Finally, Victory Square integrates a strong ESG (environmental, social and corporate governance) component throughout its operations. Our portfolio highlights minority entrepreneurs, often overlooked by traditional investors, including many from developing countries. We are also dedicated to giving back to the communities in which we serve and operate. The Companys mandate is to assist organizations through its time, talent and treasure. The Company is committed to organizations that provide services in the youth, mental health, special needs, sport, tech, education, marginalized groups, First Nations, and accessibility sectors.

The company and the management team contributed approximately $500,000 in donations to: Variety The Children Charity of BC, CKNW KIDS FUND, Simon Fraser University Tech Camp, The BC Sports Hall of Fame & Museum, Covenant House Vancouver, YWCA, Coast Mental Health, The Cerebral Palsy Association of BC, Mealshare and the BC Childrens Hospital Foundation. These gifts are in conjunction with VSTs GIVING BACK pledge made by its Executive, Staff, and Board.

We are living in the midst of the 4th Industrial Revolution; The Tech Revolution that will undoubtedly change everything as we know it, said Shafin Diamond Tejani. Digital health, AR/VR, Cybersecurity, Gaming, Sports, Entertainment, and Web 3.0 are sectors that Victory Square has invested in. We offer investors the chance to invest in the most exciting tech trends all in one place.

Check out VictorySquare.com and sign up to VSTs official newsletter at http://www.VictorySquare.com/newsletter.

On behalf of the Board of Directors

Shafin Diamond TejaniDirector and Chief Executive OfficerVictory Square Technologies Inc.www.victorysquare.com

For further information about Victory Square, please contact:

Investor RelationsContact Edge Communications GroupEmail: ir@victorysquare.comTelephone: 604 283-9166

Media RelationsContact Howard Blank, DirectorEmail: howard@victorysquare.com

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth. VSTs sweet spot is cutting-edge tech thats shaping the 4th Industrial Revolution. Our corporate portfolio consists of 20+ global companies using AI, VR/AR, and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.

What we do differently for startups

VST isnt your ordinary investor. With real skin in the game, were committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best build, innovate and disrupt. In 24-36 months, youll scale and be ready to monetize.

What we do differently for investors

For investors, we offer early-stage access to the next unicorns before theyre unicorns. Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, were able to provide strong and stable returns while also tapping into emerging global trends with big upsides.

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

For more information, please visit http://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."

This news release is qualified in its entirety by its interim financial statements and associated MD&A for the period ended June 30, 2021, copies of which are available on the Companys profile on SEDAR at http://www.sedar.com. In the case of any conflict between this news release and the financial statements and MD&A, the information provided in the financial statements and MD&A shall prevail. Investors are referred to the entirety of the financial statements and MD&A.

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 and its portfolio companies, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries and portfolio companies and other factors beyond our control. 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, outlook 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 facts 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. Although Victory Square believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Victory Squares control, including, but not limited to, the risk factors discussed in the continuous disclosure materials of the Victory Square which are available under the Victory Squares profile on SEDAR at http://www.sedar.com. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. 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.

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Victory Square Technologies Reports Record 6th Consecutive - GlobeNewswire