On May 1, 2018, Victory Square Technologies Inc. (Victory Square) acquired 28.5% of all issued and outstanding shares of Howyl Ventures Inc. (Howyl) and Capaciti, their decentralized project marketplace platform, for total consideration of $1,000,000. The consideration consisted of: (i) Victory Square’s issuance to Howyl’s owners of Victory Square common shares, which trade on the Canadian Securities Exchange, with an aggregate value of $900,000 at the close of trading on the day prior to the announcement of the definitive share purchase agreement; and (ii) Victory Square’s payment of $100,000 in cash.
Victory Square operates as a blockchain-focused venture builder in Canada. It funds and empowers entrepreneurs to implement various blockchain solutions. It disrupts virtual reality, artificial intelligence, personalized health, gaming, and film sectors. The company is headquartered in Vancouver, British Columbia, Canada.
Howyl owns and operates a decentralized blockchain-enabled project marketplace platform that enables frictionless work environment to enable the digital support of enterprise clients, and the pipeline of global talent that services those clients. The company is headquartered in Canada.
Osler, Hoskin & Harcourt LLP represented Howyl with a team consisting of Mark Longo and Patrick Sullivan (Corporate).