Victory Square Technologies Inc (CSE:VST, OTCQX:VSQTF) said its board approved a new dividend initiative targeting its Immersive Technologies holding.
In conjunction with its long-term strategy to maximize shareholder value, the board of directors will go ahead with a strategic dividend reward initiative to unlock the intrinsic value of its portfolio company Fantasy 360 Technologies Inc, which does business as Immersive Technologies Inc.
As part of the proposal, Victory Square will distribute a portion of the common shares it holds in Immersive Technologies to shareholders.
READ: Victory Square says portfolio company GameOn in partnership to launch first-of-its-kind NFT Predictor product
Prior to the dividend, the company plans to evaluate, consider and assess the mechanism by which to affect such distribution on a tax efficient and financially prudent basis.
As a growth incubator for tech start-ups, Victory Square noted the ultimate goal is for Immersive Technologies to be; “a standalone publicly listed entity.”
Described as an amusement park engineering and video game development firm, Immersive has spent the past four years building highly sought-after escape room experiences for some of the largest Family Entertainment groups around the world.
“Our board along with myself and our executive team believe that this strategic dividend reward with Immersive is in direct alignment with our vision to provide a strong recurring return on investment for our stakeholders,” Shafin Diamond Tejani, Chief Executive Officer of Victory Square said in the statement.
“Our Team and Board at VST are very excited at the upcoming listing of Immersive that follows in the footsteps of the successful listings of our portfolio companies FansUnite (FANS) and GameOn (GET).”
Victory Square currently holds a portfolio of 28 global next generation tech companies in key sectors including: the Creator Economy, Digital Health, Gaming and Web 3.0.
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