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June 2020

Victory Square Adds Three New Advisory Members

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  • Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
  • VST portfolio consists of 20 global companies using artificial intelligence (AI), blockchain, virtual and augmented reality (VR/AR) to disrupt sectors as diverse as fin-tech, insurance, health, and gaming.

VANCOUVER, British Columbia, July 25, 2019 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST)(FWB: 6F6)(OTC:VSQTF)  is very excited to announce that Darin Recchi, Carey Dillen, and Tasi Gottschlag have joined VST’s advisory team, making the Victory Square team even stronger and providing strategic support to portfolio companies.

VST’s advisors include professionals with deep experience in growth, operation, finance and legal. They provide operational and growth support to portfolio companies and help them with commercialization and building scalable businesses.

“We are thrilled with the addition of three new distinguished and highly experienced advisors to help us improve the competitive positions of our portfolio companies and unlock value-creating opportunities,” said Shafin Diamond Tejani, CEO of Victory Square Technologies.

“Strengthened with these new appointments, our team continues its deep support for select portfolio companies to maximize their growth and accelerate their path to commercialization with well-executed scalable business models ultimately realizing their potential for creating superior shareholder value,” Tejani added.

Joining the current advisory team are the following three experienced individuals:

Carey Dillen

With 20+ years of experience spanning startup to rapid growth environments, Carey harnesses an entrepreneurial drive, strategic mind and strong vision to grow people, profits and purpose. Carey has experience working with well-established organizations to dynamic startups and has contributed extensively to health, wellness, and sports communities locally, nationally and internationally.

Carey is highly experienced in strategy development, operational efficiency, financial management, people development and franchising in both private and publicly listed companies. Carey’s experience in leading teams includes developing the infrastructure to scale for rapid growth from $1 million to $1 billion.

As President of YYOGA and YYOGA at Home (on-demand digital business), she leads the development, growth, and strategy for the company. Initially growing through M&A with other yoga studios in Vancouver, YYOGA’s community has grown to 12 locations within BC and Ontario. Previously, as the VP of Finance for the Vancouver 2010 Olympic Games, Carey was instrumental in the startup, growth, and dissolution of the organization; she also acted as an advisor to London 2012 and Sochi 2014 Olympic Games. In addition, she has held senior leadership positions with some of Canada’s top brands like Boston Pizza, MEC and KPMG.

Giving back to her community is a central part of Carey’s life. She has been an advisor and board member for nonprofit and high-profile organizations like 2016 Americas Masters Games, 2015 FIFA Women’s World Cup, Sport BC, BC Athletics, and SBC Insurance Ltd.

Carey has a Bachelor of Commerce, a CA-CPA designation and is a member of YPO. In addition, she was recently nominated for YWCA’s Women of Distinction in the business and professions category.

Darin Recchi

A software sales and growth leader with over 20 years experience with high performing sales teams in established through to startup size organizations, Darin has lived in San Francisco, Vancouver and Denver and had the benefit of growing & leading teams in different markets.

Currently leading Sales Enablement & Talent Initiatives at Thoughtexchange, a solution providing online engagement software and has raised $18 million to date. Darin grew his career and held senior sales leadership roles at SAP/Business Objects (previously Vancouver-based Crystal Decisions), Adobe, NetSuite, Allocadia, and PerfectMind, growing and leading sales, renewals & channel organizations responsible for $100s of millions in revenue.

Darin continues to help startups down the path to finding the right people, product, and market fit by helping them focus on execution, the right go-to-market strategy for their size and growth and avoiding many of the pitfalls he’s come across in his experience.

In recent years he brought his experience to volunteer roles and board positions related to high tech at KAST and as a founder of Smart Kootenays, as well as sports leagues his children are involved in.

Tasi Gottschlag

A serial tech entrepreneur with over 12 years experience, Gottschlag is the COO of Keela, an impact technology company committed to building specialized solutions for the nonprofit sector.

Previously the CFO of Voxter Communications, which was acquired in 2018 by Ooma, the #1 ranked free internet phone service among VoIP phone providers. Tasi is part of the leadership team that grew Voxter Communications by 20X.

Tasi is highly experienced in operational efficiency and proficiency, financial management and decision making, people and culture, and navigating the IPO and RTO process.

She gives back to the startup community through her role as an Entrepreneur in Residence at League of Innovators (LOI) a national Canadian charity with a goal of building entrepreneurial acumen for youth, at scale.

In a recent corporate update, VST’s select portfolio companies showed strong performance and achieved significant milestones in terms of revenue growth, product development, and customer acquisition.

Check out VictorySquare.com and sign up to VST’s official newsletter at VictorySquare.com.

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

We’re not an accelerator. We’re not an incubator. We’re venture-builders.

Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF)  builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.

VST’s sweet spot is the cutting-edge tech that’s shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using blockchain, AR/VR, and AI to disrupt sectors as diverse as fintech, insurance, health and gaming.

What we do differently for startups

VST isn’t just another investor. With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you’ll scale, monetize and be ready for public listing or private sale.

What we do differently for investors

VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSTQF). For investors, we offer early-stage access to the next unicorns before they’re unicorns.

Our portfolio represents a uniquely liquid and secure way for institutional investors to double down on the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.

ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)

The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.

FORWARD-LOOKING INFORMATION

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to the completion of the acquisition of an interest in Limitless Blockchain and the timing, cost and terms thereof, the impact of the acquisition on the Company, the strategic direction of the Company, and its goal of broadening its portfolio of interests in innovative companies. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical fact contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

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$6.4 Milllion USD Worth of FSN Tokens Stolen in Fusion Network Hack

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FSN Tokens

FSN Tokens

Fusion Network, a blockchain-based stablecoin exchange, has announced that $6.4 million USD worth of FSN tokens have been taken from a compromised wallet.

The foundation in charge of the network revealed the theft in a blog post on Saturday, September 28. The post stated that one of the network’s wallets, containing 10 million of the Fusion Network’s native FSN tokens and 3.5 million ERC-20 FSN tokens had been emptied. The blog post went on to suggest that the theft may have been an inside job: “There is uncertain evidence showing that theft may have been caused by personnel related to the Fusion Foundation.”

“The Foundation deeply regrets this incident and its impact on the path of Fusion’s innovation,” said the firm. “While private key theft is an industry-wide risk and occurrence, we clearly must strengthen the protection around our private keys.” The theft represents nearly 25% of FSN token total market capitalization.

The Fusion Network was launched last summer with the intention of providing legacy institutions with access to blockchain by facilitating the transfer of stablecoins, coins backed against a fiat currency, and other digital coins. The Fusion Foundation, which oversees the network, is a non-profit organization based in New York headed by CEO DJ Qian, who revealed details of the FSN tokens theft via a Telegram group.

>> Bitcoin Fraud: Two New Cases Circulating the Media

Speaking to CoinDesk, Fusion’s Chief Product Officer John Liu said that the foundation is aware of the thief’s identity and has plans in place to demonetize the stolen FSN tokens. “This is not a newbie hacker. This criminal has been preparing this in advance. He was well prepared to implement this.” Liu added that the foundation’s method for isolating the stolen funds cannot yet be disclosed. The value of FSN tokens immediately halved following the breach, dropping from around $0.50 to $0.25 in a seven-hour period.

The news comes just a month after McAfee released its Threat Report, which pointed out that crypto-jacking was on the rise.

Featured Image: DepositPhotos © SergeyNivens

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Blockstack Raises $23 Million USD in First Regulated Token Offering

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Blockstack

Blockstack

Blockstack has raised $23 million USD in the first-ever token offering approved by the US Securities and Exchange Commission.

Blocskstack PBC, which is a decentralized computing network aiming to antiquate data breaches and trust violations, first announced the token sale in July, having received SEC approval to raise up to $28 million USD in a Reg A+ compliant offering. The breakdown of the token offering consisted of $15.5 million USD raised through the sale of  74.3 million Stacks tokens through its Reg A+ sale in the US, and an additional $7.6 million USD through the sale of 30.6 million tokens through its Reg S offering in Asia.

In a blog post released by Blockstack today, CEO Muneeb Ali said, “Our goals for working with regulators in the States were twofold. Primarily, we wanted to reach more retail investors who can be users of our network, and have a financial stake in the success of our ecosystem. Secondly, we identified Asia as a priority market, and our SEC qualification added weight to our strategic move toward Asia.”

Over 4,500 entities participated in the token offering, including Arrington Capital, Recruit Holdings, and Hashkey Group, who led the Asian offering round. Blockstack also secured a strategic investment from Recruit Holdings, a Japanese HR firm with a market cap of $50 billion USD. As part of this agreement, Recruit will purchase some of Blocksrack’s STACK tokens with a view to advancing decentralized technologies in Japan.

>> Bitcoin Volatility Eases: Is This Good or Bad for Crypto Traders?

Ali was keen to emphasize the importance of Asia as a market by saying “Asia is arguably the largest market for crypto […] Japan is a very interesting market for crypto because it has clarity around regulations. It is legal to own and trade crypto assets, but only those whitelisted by the regulators.” Given its advancements in the Asian market, being the first company to conduct an SEC-approved token offering, and even receiving investment from Harvard University, Blockstack is somewhat of a trailblazer in terms of engaging in regulated crypto trading.

Featured Image: DepositPhotos © iqoncept

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