Canada
Victory Square Technologies Provides Corporate Update as at August 17, 2021
Victory Square Technologies Inc., a company that provides investors access to a diverse portfolio of next generation tech companies in key sectors including: the Creator Economy, Digital Health, Gaming, Web 3.0, VR/AR and Green Tech, is pleased to provide a corporate update from June 1, 2021 through to August 16, 2021.
“2021 has been a year of continued growth and new opportunities for Victory Square.” Said Shafin Diamond Tejani, CEO. “We’ve seen the significant growth of FansUnite, the public listing of GameOn Technologies and now the upcoming listing of Immersive Technologies later this month. Our balance sheet has never been stronger and our team is laser focused on unlocking value from the existing portfolio, and building a pipeline of new opportunities thru strategic investment and acquisitions.”
June
- Victory Square reported a record fifth consecutive quarter with positive net income and earnings per share.
- GameOn Entertainment Technologies (CSE:GET) officially began trading on the Canadian Securities Exchange on June 1st.
- Victory Square Technologies Announces Completion of Investment in Renewable Energy Company – Stardust Solar.
- Immersive Tech announced the appointment of Alvin Wang Graylin to its Board of Directors. He currently serves as the China President of HTC Corporation, managing all aspects of HTC’s business in the China Region.
- Game On announced an exclusive partnership with India’s entertainment super app MXPlayer that will introduce cricket prediction games for mobile to their service.
- Cloud Advisors announced the launch of Canada’s first digital employer and employee benefits marketplace.
- VST CEO Shafin Diamond Tejani’s latest Techonomy article is a look at the booming Canadian tech scene of 2021.
- Covalent has closed $10 million in a public sale of its CQT token on the distribution platform CoinList.
- Immersive Tech announces the appointment of Metaverse Leader Cathy Hackl to Its Board of Directors.
- VR/AR Thought Leader and Industry Expert Dan Burgar to Join Immersive Tech Advisory Board
- Next Decentrum Technologies Received $500,000 Investment to launch Momentable.ai, a digital collectables platform that empowers creators to create, manage, and promote NFT-based digital products, experiences, collections, and communities on the flow blockchain.
July
- Victory Square Technologies Portfolio Company Turnium Technology Group Included on the Ready to Rocket list for 2021 of British Columbia-based technology companies set for faster growth.
- FansUnite Entertainment Closed $24,792,390 Public Offering of Units
- GameOn announced a partnership with Blockparty to launch a first-of-its-kind NFT predictor product.
- In his latest piece for Entrepreneur, VST CEO Shafin Diamond Tejani took a look at the rise of Creator Coins and how they’re helping people take back the reins.
- Stardust Solar has become the first and the only coast to coast authorized Canadian dealer of the highly sought-after solar and energy services provider, SunPower.
- Victory Square Technologies portfolio company Turnium Technology Group Inc. (TTGI) is collaborating with IBM to onboard TTGI’s cloud-native SD-WAN solution to the IBM Cloud for Telecommunications.
August
- FansUnite Entertainment Granted UK Gambling Licenses for B2C and B2B Businesses.
- VST CEO Shafin Diamond Tejani’s latest Forbes article is a look at the “Five Lessons From A Dotcom-Bubble Veteran For Today’s Retail Investors.”
- Victory Square Technologies Signs an LOI for a Follow-on Investment in One of the Top 10 Ranked Influencer Platforms – Creator.co.
- Victory Square Portfolio Company, Immersive Technologies Receives Conditional Approval to List Under The Symbol CSE: VRAR.
- Victory Square Technologies Declares a Special Common Share Dividend of Its Interest in Portfolio Company Fantasy 360 Technologies Inc. (dba Immersive Tech).
- Victory Square Portfolio Company Hydreight Signs Strategic Sales and Marketing Agreement With Medline Industries Inc. to provide Hydreight’s telemedicine platform to Medline’s Clients
Outlook
The Company’s primary goals for the next 90 – 120 days are:
- Issue The First Tranche Of a Special Common Share Dividend of its Interest in Portfolio Company Fantasy 360 Technologies Inc. dba Immersive Tech
- Fantasy 360 Technologies Inc. dba Immersive Tech to Start Trading On The CSE Under Symbol (CSE:VRAR)
- Prepare Stardust Solar for a public listing
- Issue The Second Tranche Of a Special Common Share Dividend of its Interest in Portfolio Company Fantasy 360 Technologies Inc. dba Immersive Tech before the end of the current calendar year.
- Expand Hydreight’s strategic Sales and Marketing Agreement with Medline Industries Inc. to provide Hydreight’s full-suite of mobile digital health solutions and telemedicine platform to Medline’s Clients (surgery centres, skilled nursing facilities, home care agencies, nursing homes, hospice care, hospital laundries)
- Work with Creator.co to grow their existing platform, and to complete the development of an add-on feature which will allow creators to launch their own digital currency powered by the blockchain.
- Successfully invest in additional ventures working on the following: EV Solutions, Renewable Energy, Digital Assets Management, FinTech (Rent now, Pay later), Employee Health & Wellness, and The Creator Economy
- Completing the new digital health technology that allows for whitelabling for enterprise brands and customers
- Completing The “Friendly PC” model certifications in the United States.
- Achieve organic growth for the existing portfolio companies; and
- Invest in the team and infrastructure to support further investments and scaling.
Finally, VST integrates a strong ESG (environmental, social and corporate governance) component throughout its operations. Our portfolio highlights minority entrepreneurs, often overlooked by traditional investors, including many from developing countries. We are also dedicated to giving back to the communities in which we serve and operate. The Company’s mandate is to assist organizations through its time, talent and treasure. The Company is committed to organizations that provide services in the youth, mental health, special needs, sport, tech, education, marginalized groups, First Nations, and accessibility sectors.
Canada
IAGR announces Toronto as host city for 2025 conference
Hot on the heels of its most attended conference in history, the International Association of Gaming Regulators (IAGR) is excited to announce that its 2025 conference will take place in Toronto, Canada, from October 20 to 23, 2025.
The event will be held in partnership with the Alcohol and Gaming Commission of Ontario (AGCO) at the Westin Harbour Castle, offering stunning waterfront views and a premier, downtown Toronto location.
‘Fresh off the success of our Rome conference, we’re thrilled to continue the momentum with next year’s event in Toronto,’ said Ben Haden, IAGR President.
‘The IAGR 2025 conference promises to be another unparalleled opportunity for our global community to come together, collaborate and shape the future of gaming regulation. We’re looking forward to working with AGCO to bring it all together.’
AGCO CEO and Registrar Dr. Karin Schnarr, added, ‘We’re excited to welcome IAGR and its members to Toronto. This partnership provides a great opportunity to share Ontario’s innovative regulatory practices and foster meaningful discussions that drive positive change in the industry.’
Stay tuned for registration details early next year.
Canada
ESE Entertainment Completes Acquisition of Gaming Production Company, Bombee Americas
ESE Entertainment Inc., a gaming company that provides a range of services to leading video game developers and publishers, has announced that it has acquired Bombee Global Entertainment Ltd. (Bombee Americas), the North American arm of Bombee Event Production AB, (Bombee), a global production company specialized in live production, special effects, broadcast, and event management for the gaming sector.
Bombee has successfully collaborated with ESE to bring its premier event production services and world class customer service to North America and beyond. The North American arm of Bombee, Bombee Americas, will continue to grow and scale in this new organizational structure under ESE, while maintaining its entire team and global support.
Konrad Wasiela, CEO of ESE, said: “Today marks the next stage of ESE—a 2.0 version of our company. With the acquisition of Bombee Americas, we are not only solidifying our presence in North America but also paving the way for growth and innovation in the gaming industry. This is a major step, positioning us to deliver even greater value to our partners and elevate the gaming experience for our clients globally. We’re thrilled about the opportunities ahead and the exceptional talent joining our team.”
Transaction Terms
The Acquisition was completed by way of a share purchase agreement (the SPA) among the Company, Bombee Americas, and the shareholders of Bombee Americas (the Vendors). Pursuant to the SPA, ESE acquired all of the outstanding shares of Bombee Americas in exchange for: (i) $750,000 in cash paid on closing, (ii) $375,000 in cash to be paid six (6) months following closing, subject to customary adjustments based on the working capital of Bombee Americas on closing, (iii) $375,000 in cash to be paid twelve (12) months following closing, and (iv) 30,000,000 common shares of ESE (the Consideration Shares), issued at a deemed issue price of $0.10 per share.
In connection with the Acquisition, the founders of Bombee Americas have signed three-year service agreements and will continue to run the business following the closing, along with the rest of the personnel of Bombee Americas who will remain in place, ensuring a smooth transition of operations. As part of the Acquisition, the Company has acquired the liabilities of Bombee Americas, mainly consisting of customary current obligations incurred in the ordinary course of business for Bombee Americas, which are not expected to have a material impact on the Company’s operations or financial position.
No finder’s fees were paid or payable in conjunction with the Acquisition.
The Acquisition was an arm’s length transaction within the meaning of the policies of the TSX Venture Exchange (the Exchange) and constituted an “Expedited Acquisition” in accordance with Exchange Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets. The Acquisition remains subject to the final approval of the Exchange.
Canada
Suspected Digital Fraud Coming from Canada Up Nearly 11% Since H1 2023, Reveals New TransUnion Analysis
In the first half (H1) of 2024, Canada saw a significant increase in suspected Digital Fraud attempts, with nearly 5.74% of all attempted digital transactions where the consumer was located in Canada involving suspected Digital Fraud, revealed a new TransUnion® (NYSE: TRU) analysis. This is nearly an 11% year-over-year (YoY) rate increase from H1 2023, and TransUnion also documented an 11% increase in the volume of suspected Digital Fraud from Canada during this period, despite a less than a one percent (0.7%) YoY increase in the volume of transactions.
According to a recent TransUnion survey,1 more than half (54%) of Canadians said they were recently targeted by email, phone call or text message fraud attempts. Phishing was the most common scheme type (45%), followed by smishing (42%) and vishing (39%).
The increasing use of digital transactions, combined with rising suspected Digital Fraud attempts are also impacting businesses as they potentially face revenue losses and increased operational costs due to fraud. According to a TransUnion business survey for the H2 2024 Update to the State of Omnichannel Fraud report, 200 Canadian business leaders said their companies lost approximately 6% of equivalent revenue – representing $78 billion – over the past year due to fraud. The most prominent causes of fraud loss cited by them were:
- Scam/Authorized fraud (31%): Dishonest scheme intended to trick a person into giving up something of value (e.g., account access, money, information)
- Account takeover (19%): Unauthorized individuals taking over someone’s online account (e.g., bank, social media, email) without their permission
- Synthetic identity fraud (18%): Use of a combination of personal information to fabricate a person or entity to commit a dishonest act for financial or personal gain
TransUnion also found that suspected Digital Fraud attempts – where the consumer was transacting in Canada and targeted businesses globally – increased on average by 10.5% YoY in H1 2024 compared to H1 2023 and impacted all industries.
Top Three Industries Globally with Highest Rate of Suspected Digital Fraud Attempts Coming from Canada in H1 2024
- Gambling (online sports betting, poker, etc.) – 9.6%
- Retail – 9.2%
- Government – 7.7%
Top Three Industries Globally with Highest YoY Increase (H1 2024 vs H1 2023) in the Rate of Suspected Digital Fraud Attempts Coming from Canada
- Logistics – 172.9%
- Gambling – 79.3%
- Video gaming – 67.8%
“Protecting customers and their businesses from fraud is essential to enabling safe and tailored consumer experiences. These findings reveal that despite the good-faith efforts that are being undertaken by companies to identify and prevent fraud to date, fraudsters continue to evolve and it’s vital that fraud prevention methods keep up with the changing times,” said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada.
“Businesses that aren’t already doing so should ensure that they are taking advantage of fraud prevention technologies such as identity verification, IP intelligence, device reputation and synthetic identity detection as critical components of their fraud prevention programs,” he added.
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