VANCOUVER, British Columbia, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. ("Victory Square") (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that gives investor access to a portfolio of the best and brightest entrepreneurs and innovations from around the world in a single stock, is pleased to announce that its portfolio company Stardust Solar Technologies Inc. ("Stardust Solar' or the "Company"), is pleased to share a corporate update.
Founded in 2017, Stardust Solar is a leader in renewable energy education, providing CSA/NABCEP approved design and installation training with hands-on experience. Stardust Solar is also one of the first companies in North America to offer a franchise opportunity dedicated to the installation of solar PV systems.
"Stardust Solar is very excited to announce that we have signed a definitive agreement to merge with CPC BOLD TSX.V! Furthermore, we are pleased to report we surpassed our annual revenue goal of $3M and finished the year with $3,316,502.23 CAD in revenue," said Mark Tadros, CEO of Stardust Solar.
Revenue Growth
Stardust Solar Showed a 50% YOY Revenue Growth in 2023, with $3.3M in Revenues, exceeding $3M revenue goal by 10%.
Scaleable Franchise Growth
Over 100% Growth in Product Sales & Royalties, reflecting the true growth of the primary revenue streams of the franchise business.
System-Wide Sales
80% Growth in System-Wide Sales in 2023 in Canada, also reflected by more than 80% Growth in Canadian Product Sales.
U.S. Expansion
U.S. Franchise Company Revenues increased by over 200% over the previous year.
Stardust Solar Now at 31 Franchise Territories in North America
- Richmond/Delta, BC
- Vancouver/Burnaby, BC
- Surrey/White Rock, BC
- Langley/Abbotsford, BC
- Coquitlam, BC
- Kamloops, BC
- Edmonton, AB
- Red Deer, AB
- Calgary, AB
- Saskatoon, SK
- Sudbury, ON
- Owen Sound, ON
- Barrie, ON
- York, ON
- Region Peel, ON
- Toronto, ON
- Halifax, NS
- P.E.I.
- New Brunswick
- St Johns, NFLD
- Regina, SK
- Kelowna, BC
- Victoria, BC
- Oklahoma, OK USA
- Columbus/Delaware, OH USA
- Quad Cities, Iowa USA (Coming Soon)
- Philadelphia, PA USA (Coming Soon)
- Michigan, USA (Coming Soon)
- Denver, CO USA (Coming Soon)
- Liberal, KS USA (Coming Soon)
- Boston, MA USA (Coming Soon)
Stardust Solar University
- Achieved NABCEP Accreditation of our 5-Day PV Technical Sales Training
- In Development of our PV Installation Professional NABCEP Accreditation (Highest Level Offered by NABCEP for Solar Installers in USA)
- In Development of our Energy Storage System Installation Training (New Accreditation Offered by NABCEP)
Please feel free to Follow Stardust on > Facebook / LinkedIn / Instagram
On behalf of the Board of Directors
"Shafin Diamond Tejani"
Director and Chief Executive Officer
Victory Square Technologies Inc.
www.victorysquare.com
For further information about Victory Square, please contact:
Investor Relations Contact - Abbey Vogt
Email: ir@victorysquare.com
Telephone: 604 283-9166
Peter Smyrniotis - Director
Telephone: 604 283-9166
Sign up to VST's official newsletter at www.VictorySquare.com/newsletter
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth. VST's sweet spot is cutting-edge tech that's shaping the 4th Industrial Revolution. Our corporate portfolio consists of 25+ global companies using AI, VR/AR, and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn't your ordinary 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 and be ready to monetize.
What we do differently for investors
For investors, we offer a liquid way to invest in some of the world's most innovative early-stage technology companies without buying a venture fund that requires accredited investor status or multi-year commitments. It also can be purchased by non-accredited investors who are restricted from buying venture funds. Our portfolio provides a uniquely liquid, and transparent way for investors to get access to the latest technologies and emerging global trends. It is an excellent way to diversify into early-stage venture.
VST invests primarily in leading edge technology, such as artificial intelligence (AI), machine learning (ML), digital health, blockchain, gaming and climate tech, which provide the potential for high growth and returns.
Victory Square 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. VST's mandate is to assist organizations through its time, talent and treasure. Victory Square is committed to organizations that provide services in the youth, mental health, special needs, sport, tech, education, marginalized groups, First Nations, and accessibility sectors.
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).
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 and its portfolio companies, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries and portfolio companies, including those items listed under the heading "Net Asset Value ("NAV") Update", "Notable Portfolio Highlights" and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as "believes", "expects", "to be", "anticipates", "estimates", "intends", "plans", "continues", "project", "potential", "possible", "contemplate", "seek", "goal", "objectives", "outlook" 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 and includes information regarding the Company's future projections and plans, strategic priorities in 2024.
All statements other than statements of historical facts 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. Although Victory Square believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Victory Square's control, including, but not limited to, the risk factors discussed in the continuous disclosure materials of the Victory Square which are available under the Victory Square's profile on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. 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.
