Victory Square's Subsidiary, IV Hydreight Enters into Definitive Agreement to Complete Qualifying Transaction With Perihelion Capital Ltd.

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VANCOUVER, British Columbia, July 13, 2022 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (CNSX:VST.CN) (OTC:VSQTF) ("VST" or the "Company") is pleased to announce that its wholly-owned subsidiary, IV Hydreight Inc. ("Hydreight"), has entered into a merger agreement effective July 12, 2022 (the "Merger Agreement"), with Perihelion Capital Ltd. ("PCL") (TSXV:PCL-P.VN), a capital pool company listed on the TSX Venture Exchange (the "Exchange"), in respect of an arm's length reverse-takeover transaction which will result in PCL acquiring all of the equity interests of Hydreight and shareholders of Hydreight receiving shares of PCL in exchange for their holdings in Hydreight (the "Proposed Transaction").