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Mobile Games, Film & VR/AR/MR Assets Continue to Anchor Media and Entertainment Portfolio for Victory Square Technologies(July 10, 2018)
... current highlights include successful launch of mobile game “Pacific Rim: Breach Wars”, theatrical releases and interactive experiences in LA, New York & Las Vegas
VANCOUVER, British Columbia, July 10, 2018 (GLOBE NEWSWIRE) -- Supporting its strategic vision for a vertically-integrated media division and entertainment hub, Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) is pleased to report on the results from its second quarter acquisition of V2 Games Inc. (“V2 Games”).
Completed on May 29, 2018, the acquisition of V2 Games by Victory Square is the latest step in the operationalization of its media division, one that spans key portfolio interests in video games, film and virtual reality/augmented reality/mixed reality. V2 Games formally joins the Victory Square media division on the strength of the commercial success of the mobile game “Pacific Rim: Breach Wars”, produced in partnership with Los Angeles-based Kung Fu Factory. “Pacific Rim: Breach Wars” debuted at #5 on the RPG Charts in Canada and at #13 in the United States. With a soft-launch in April, the game has already added over 2,000,000 users in North America, and will be launching in Asia very shortly.
“Combined with the Company’s investment interests in Unified Film Fund II LLC and revenues generated by Fantasy 360 Technologies Inc. (“Fantasy 360”), a wholly-owned subsidiary of the Company, the momentum generated by V2 Games has positioned Victory Square’s media division as an entertainment hub with key strengths in interactive games featuring world-class IPs, high-value film content, and emerging VR/AR/MR experiences,” said Shafin Diamond Tejani, Chief Executive Officer of Victory Square.
“Our focus, of course, is on leveraging these results for our shareholders, but as a high-tech team that loves to entertain and empower, we are also delighted to see the critical praise for our entertainment arm, including V2 Games and the very positive reviews of video games such as “Pacific Rim: Breach Wars,” said Tejani. “We set out to create a truly-integrated media and content division, and with the integration of V2 Games into our operations, we have finally achieved that major milestone.”
Tejani noted that Victory Square can now build on its previous success stories in each of the individual verticals of film, games, and AR/VR/MR experiences, and deploy its new-found capability through V2 Games to create vertically-integrated content and IP that can be consumed across multiple platforms and in different forms of entertainment.
“We see tremendous potential for our media division and entertainment arm as it continues to make inroads into this lucrative industry,” added Tejani.
In addition to the over 2 million users and “Pacific Rim: Breach Wars” debuts of #5 in Canada and #13 in the U.S., the recent highlights for the VST media division also include:
- Signing of a distribution agreement with Discovery Inc., operator of Discovery Channel and the Discovery Kids platform.
- Signing of a term sheet with a major Hollywood media company to license the game rights for an iconic movie franchise.
- Secured theatrical release for its film project “What They Had “(starring Hilary Swank and Michael Shannon) in fall 2018, following an exceptional reception at the Sundance Film Festival. The film will premiere at Toronto International Film Festival before its worldwide release later this year. Currently the film has $7.35 million in confirmed sales worldwide. Of this figure, VST expects to generate $3.6 million in revenues.
- Secured theatrical release for its film project “Ride” (starring Bella Thorne and Jessie T Usher) in the fall of 2018. Currently has confirmed $2.3 million in sales worldwide. Of this figure, VST expects to generate $1.2 million in revenues.
- Currently filming the comedy “The Opening Act” (starring Jimmy O Yang, Bill Burr, Russell Peters, Ken Jeong, and Cedric the Entertainer) in partnership with Vince Vaughn and Wild West Picture Show Productions.
- Fantasy 360 (dba Immersive Tech) has generated over 300% year-over-year growth in revenues building customized immersive escape rooms and pop-up experiences for large global brands in New York, Los Angeles, Las Vegas, Denver, and Detroit.
- Shape Immersive unveiled their newest product at TED 2018, which they built specifically for TED in partnership with the VRARA Vancouver. Using Occipital's depth camera and mixed reality framework, the company was able to create the illusion of context-aware virtual objects. The result is one the most spatially accurate augmented reality experiences ever created.
- Formalized a partnership with the Virtual Reality/Augmented Reality Association to host the VR/AR Global Summit, which will bring together world leaders in the VR/AR/MR/XR in a forum focused on present and future immersive technologies in September 2018.
Having already established a pipeline of world-class gaming, films, and immersive AR/VR products that are scheduled to launch between 2018 Q4 and 2019 Q2, the Victory Square media division projects continued rapid growth over the next six to 12 months, according to Tejani.
For further information about the Company, please contact:
Investor Relations Contact - Prit Singh
Media Contact - Howard Blank, Director
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square Technologies is a blockchain-focused venture builder that funds and empowers entrepreneurs to implement innovative blockchain solutions. Victory Square portfolio companies are disrupting every sector of the global economy including Virtual Reality, Artificial Intelligence, Personalized Health, Gaming and Film. Victory Square has a proven process for identifying game-changing entrepreneurs and providing them with the partners, mentorship and support necessary to accelerate their growth and help them scale globally. For more information, please visit www.victorysquare.com.
ABOUT V2 GAMES INC.
V2 Games was founded in 2014 as a game production studio. Following the success of titles such as PAC-MAN Bounce, the company leveraged its experience to become a strategic venture fund for gaming projects. With an executive team that has experience in both the corporate business of games as well as hands-on video game development and distribution, V2 Games acts as a bridge between professional investors and the vast, rapid-growing opportunities in the $100 Billion gaming market.
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.
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 future performance by any portfolio company of the Company, the impact of any portfolio company’s performance 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.