LONDON, March 06, 2018 (GLOBE NEWSWIRE) — Mr. Mehdi Khimji announces that he has exercised his warrants to purchase an aggregate of 3,333,334 common shares (the “Purchased Shares”) in the capital of Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST)(OTC:VSQTF)(FWB: 6F6). The Purchased Shares were acquired for CDN$1.50 per Purchased Share, representing an aggregate exercise price of CDN$5,000,001 (the “Proceeds”).
The Purchased Shares represent approximately 5.3% of the outstanding Common Shares. When combined with the 6,666,667 Common Shares Mr. Khimji already owns, Mr. Khimji will hold an aggregate of 10,000,001 Common Shares, representing approximately 15.2% of the issued and outstanding Common Shares.
Mr. Khimji exercised the warrants to purchase the securities for investment purposes and may or may not purchase or sell securities of the Company, in the future on the open market or in private transactions, depending on market conditions and other factors. Depending on market conditions, general economic and industry conditions, the Company’s business and financial condition and/or other relevant factors, Mr. Khimji may develop other plans or intentions in the future.
A copy of the early warning report filed in connection with the transaction will be available on the Company’s profile on SEDAR at www.sedar.com.