Victory Square Technologies Inc (CSE:VST, OTCQX:VSQTF). has announced that its portfolio company Fantasy 360 Technologies Inc. (known as Immersive Tech) has received conditional listing approval from the Canadian Securities Exchange (CSE) and will trade under the ticker symbol VRAR.
The listing is subject to Immersive fulfilling the CSE's final listing conditions, Victory Square said.
As an industry leader in blending amusement park engineering and video game development, Victory Square said Immersive has established strong working relationships with top organizations including Bayer Pharmaceuticals, Intel, Allegiant Airlines, Capital One, and Scotia Bank for brand activations at events such as the X-Games and Boston Hub Week.
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Over the past four years, Immersive has built highly sought-after escape room experiences for some of the largest family entertainment groups globally, including APEX Entertainment and Kalahari Resorts. Immersive also operates the newly launched company “UNCONTAINED,” the world's first COVID-safe free-roam AR/VR shipping container Location-Based Entertainment franchise.
Victory Square said the CSE conditional listing approval is another major milestone for Immersive as it has seen substantial growth over the past 12 months.
“We are thrilled to announce our conditional approval from the Canadian Securities Exchange for listing under our symbol ‘VRAR’,” said Immersive CEO Tim Bieber in a statement. “We’ve assembled a visionary team of change-makers in our industry, and have all the ingredients to become one of the leaders in the Location-Based Entertainment space and one that could shape the next evolution of entertainment. I look forward to helping Immersive skyrocket beyond the Metaverse."
Meanwhile, Victory Square also announced that its board of directors has approved a strategic dividend reward initiative to unlock the intrinsic value of Immersive by proposing a distribution of a portion of the common shares of Immersive currently held by Victory Square to its shareholders.
“This spin-off of Immersive will provide value to our shareowners,” said Victory Square CEO Shafin Diamond Tejani. “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 shareowners. Our team are very excited at the latest conditional listing of Immersive that follows in the footsteps of the successful listings of our portfolio companies FansUnite and GameOn.”
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