HTTP/1.1 200 OK Date: Wed, 21 Mar 2018 13:23:06 GMT Content-Type: text/html; charset=UTF-8 Transfer-Encoding: chunked Connection: keep-alive Set-Cookie: __cfduid=d107464f26d6f8aa495a5dabd63731f3c1521638586; expires=Thu, 21-Mar-19 13:23:06 GMT; path=/; domain=.cryptocurrencynews.com; HttpOnly Vary: Accept-Encoding Set-Cookie: PHPSESSID=u8ss4hj8bqr11m4r15r2f24eq7; path=/ Expires: Thu, 19 Nov 1981 08:52:00 GMT Cache-Control: no-store, no-cache, must-revalidate Pragma: no-cache Set-Cookie: qstring=utm_campaign%3Drss__ccn; expires=Wed, 21-Mar-2018 15:23:06 GMT; Max-Age=7200; path=/; domain=streetsignals.com Set-Cookie: utm_cmp=deleted; expires=Thu, 01-Jan-1970 00:00:01 GMT; Max-Age=0; path=/; domain=streetsignals.com Set-Cookie: utm_src=deleted; expires=Thu, 01-Jan-1970 00:00:01 GMT; Max-Age=0; path=/; domain=streetsignals.com Set-Cookie: utm_trm=deleted; expires=Thu, 01-Jan-1970 00:00:01 GMT; Max-Age=0; path=/; domain=streetsignals.com Set-Cookie: utm_medium=deleted; expires=Thu, 01-Jan-1970 00:00:01 GMT; Max-Age=0; path=/; domain=streetsignals.com Set-Cookie: utm_content=deleted; expires=Thu, 01-Jan-1970 00:00:01 GMT; Max-Age=0; path=/; domain=streetsignals.com Set-Cookie: utm_cmp=rss__ccn; expires=Wed, 21-Mar-2018 13:43:06 GMT; Max-Age=1200; path=/; domain=streetsignals.com X-Pingback: https://cryptocurrencynews.com/xmlrpc.php Link: ; rel="https://api.w.org/" Link: ; rel=shortlink Link: /cache/minify/3/a41d7.css>; rel=preload; as=style Expect-CT: max-age=604800, report-uri="https://report-uri.cloudflare.com/cdn-cgi/beacon/expect-ct" Server: cloudflare CF-RAY: 3ff0bb2abd2b3fa1-YUL Victory Square Enters Definitive Agreement to Acquire 49% of Flo Digital Inc.
Depositphotos/Perig76 VANCOUVER, British Columbia, March 21, 2018 (GLOBE NEWSWIRE) — Subject to receipt of all requisite regulatory approvals, Victory Square Technologies Inc.[4] (“Victory Square” or the (“Company”) (CSE:VST) (FWB: 6F6[5]) will acquire 49% percent of all issued and outstanding shares of Flo Digital Inc. (“Flo”), for $1,000,000 CAD in total consideration (the “Purchase Price”). In addition to the equity investment, Victory Square will be providing a $300,000 CAD convertible note. The note will convert upon a minimum financing of $1,000,000 CAD at a 20% discount to the issue price.
Pursuant to a definitive subscription agreement executed between the Company and Flo (the “Subscription Agreement”), the Purchase Price will be paid and satisfied by the Company through the issuance of 446,428 common shares in the capital of the Company (the “Consideration Shares”) to Flo at a deemed issue price of $2.24 per Consideration Share. The deemed issue price represents the closing price of the common shares of the Company on the Canadian Securities Exchange at the end of trading on March 20, 2018, the trading day preceding this news release announcing the acquisition. The Consideration Shares shall be subject to resale restrictions, which permit 8% of the Consideration Shares to be eligible to be free trading four months from the date of issuance to satisfy the statutory hold period and a further 8% every three months thereafter until the final balance of Consideration Shares is eligible to be free-trading in approximately three years’ time. The Subscription Agreement also contains standard representations, warranties and covenants for transactions of this nature.
