Victory Square Technologies Inc (CSE:VST, OTCQX:VSQTF) said it will issue the second tranche of its previously announced special dividend of common shares in the capital of its portfolio company Fantasy 360 Technologies Inc - known as Immersive Tech - to the incubator's shareholders this month.
Similar to the first tranche, announced on August 12, 2021, the company said the second tranche will consist of approximately an additional 4,500,000 Immersive shares which will be eligible to Victory Square shareholders of record as of a date to be determined by the company.
READ: Victory Square Technologies declares special dividend of common shares in soon-to-float portfolio company Immersive Tech
Victory Square reminded investors it also announced a special common share dividend of its portfolio company, GameOn Entertainment Technologies Inc, on May 19, 2021.
The company said further information regarding the second tranche of the special common share dividend in Immersive will be provided in a subsequent news release when terms are finalized by its board of directors.
Immersive is building the “physical metaverse” through its location-based platform. Since 2016 the company has been an industry leader in social entertainment, virtual reality (VR) and augmented reality (AR) entertainment attractions.
The company builds experiences on its platforms for some of the world's largest companies including Intel, Bayer, Capital One, Scotia Bank, the US Food and Drug Administration, Allegiant Airlines.
Victory Square builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth. The company's sweet spot is cutting-edge tech that's shaping the Fourth Industrial Revolution. Its portfolio consists of 28 global next-generation tech companies in key sectors including the creator economy, digital health, gaming, Web 3.0, VR/AR and green tech.
Contact the author at stephen.gunnion@proactiveinvestors.com