- Hydreight Technologies, a portfolio company of Victory Square Technologies (VST) has started trading on the TSX Venture Exchange
- Hydreight (formerly Perihelion Capital Ltd.) received final approval for its qualifying transaction from the TSX Venture Exchange
- The public listing of Hydreight on the TSXV follows the successful acquisition of Hydreight by the VST in February 2021 for an aggregate purchase price of US$1,600,000
- Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth
- Victory Square Technologies Inc. was unchanged at C$0.145 at 2:06 PM ET
Hydreight Technologies, a portfolio company of Victory Square Technologies (VST) has started trading on the TSX Venture Exchange.
Hydreight (formerly Perihelion Capital Ltd.) received final approval for its qualifying transaction, as principally described in its filing statement, from the TSX Venture Exchange.
Consequently, its common shares have commenced trading on the TSXV under the symbol ‘NURS’ from the opening of the market on December 1, 2022.
“The VST business model is focused on identifying opportunities early, mitigating risk and creating outsized returns,” stated VST CEO Shafin Diamond Tejani.
“But the ultimate goal is to find an outlier (or outliers) within these investments, and we believe that Hydreight is that outlier,” he added.
The public listing of Hydreight on the TSX-V follows the successful acquisition of Hydreight by the VST in February 2021 for an aggregate purchase price of US$1,600,000.
As a result, Hydreight entered into a definitive agreement to complete a qualifying transaction with Perihelion Capital Ltd. in July 2022 for a deemed transaction value of $22,575,000.
Out of that, approximately 78 per cent is attributed to Hydreight, and approximately 22 per cent is attributed to PCL.
Upon listing, Hydreight will have 37,842,847 common shares outstanding, and VST will own approximately 73.72 per cent of the issued and outstanding common shares of Hydreight Technologies Inc.
Hydreight’s business was founded in April 2018 in the State of Nevada, United States, to fill an ever-evolving void between patients, healthcare professionals and service advisors and bridge the gap between the corporate practice of medicine, legal compliance and customer convenience.
“This is a major step for the growth of our company as we continue to provide business partners, service providers, medspas, facilities and vendor partners with interactive, accessible, mobile health and wellness services across the United States,” said Hydreight CEO Shane Madden.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth.
Victory Square Technologies Inc. was unchanged at C$0.145 at 2:06 PM ET.
