- Victory Square Technologies (VST) has signed a share-exchange agreement with AcquisitionCo and Draft Label in respect of a business combination
- AcquisitionCo will acquire all of the equity interests of Draft Label, and the shareholders of Draft Label will receive shares of AcquisitionCo in exchange for their holdings in Draft Label
- AcquisitionCo intends to use the funds from the proposed transaction to grow and scale DiscreetCare.com, a full-service web App for the treatment of sensitive and delicate medical issues like hair loss, erectile dysfunction
- Victory Square (VST) builds, acquires and invests in promising startups in the areas of blockchain, machine learning, artificial intelligence and VR/AR
- Victory Square Technologies Inc. opened trading at $0.15 per share
Victory Square Technologies (VST) has signed a share-exchange agreement with AcquisitionCo and Draft Label in respect of a business combination.
According to the terms of the agreement, AcquisitionCo will acquire all of the equity interests of Draft Label, and the shareholders of Draft Label will receive shares of AcquisitionCo in exchange for their holdings in Draft Label.
This is coming on the heels of the letter of intent signed on June 23, 2022, with 1288273 B.C. Ltd. and Draft Label Technologies Inc., a wholly-owned subsidiary of Victory Square.
The company and AcquisitionCo anticipate that the proposed transaction will be completed before March 31, 2023.
The proposed transaction will result in AcquisitionCo acquiring all of the issued and outstanding securities of Draft Label in exchange for the issuance of securities of AcquisitionCo, which will result in Draft Label becoming a wholly-owned subsidiary of AcquisitionCo.
The existing shareholders of AcquisitionCo, which include VST, are expected to own a majority of the outstanding AcquisitionCo common shares after completion of the proposed transaction, and AcquisitionCo will be renamed to such name as mutually agreed to by Victory Square, Draft Label and AcquisitionCo.
AcquisitionCo intends to use the funds from the proposed transaction to grow and scale DiscreetCare.com.
DiscreetCare is a full-service web App for the treatment of sensitive and delicate medical issues such as hair loss, erectile dysfunction, premature ejaculation, genital herpes, cold sores, acne, and bladder control issues.
“The vision for DiscreetCare is to be a one-stop provider for what many consider ‘delicate’ medical issues,” noted Victory Square Technologies CEO Shafin Diamond Tejani.
“Our web app gives users access to testing, treatment and prescriptive medicinal remedies – all from the convenience and privacy of one’s mobile device,” he added.
Victory Square (VST) builds, acquires and invests in promising startups in the areas of blockchain, machine learning, artificial intelligence and VR/AR.
Victory Square Technologies Inc. opened trading at $0.15 per share.