Net Asset Value (“NAV”) Update: unaudited June 30, 2022 NAV - $89,704,469Notable Portfolio Highlights: IV Hydreight, Creator.co, GameOn, XR Immersive, Next Decentrum, Stardust Solar, Fansunite, CoPilot, Turnium, Covalent CQT and Cloud AdvisorsCompany & Executive Team featured in Forbes, Yahoo Finance, Entrepreneur, CoinTelegraph and NewsweekNext Investor Q&A Webinar on Thursday July 28, 2022

VANCOUVER, British Columbia, July  21, 2022  (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that provides VC Investment access to a diverse portfolio of next generation technology companies within an audited, transparent and liquid investment vehicle, is pleased to provide a Corporate Update.

Shafin Diamond Tejani, CEO of Victory Square: “I want to personally thank all of Victory Square’s shareholders that have believed in our mission and vision. We’ve been very fortunate to have such a passionate, supportive and vocal shareholder base. Despite market conditions, our team is committed to building long-term shareholder value. As we recently entered Q3 2022, I’d like to take this opportunity to share some notable highlights from Q2 2022.”

Net Asset Value (“NAV”) unaudited June 30th, 2022 Update:

NAV - $89,704,469 approx.

(See “Use of Non-GAAP Financial Measures”)

This update is made based on Victory Square’s established practice of releasing NAV as part of the Company’s ongoing response to shareholder interest in receiving periodic information. NAV is calculated based on the latest audited valuations, third party pricing agency valuations as well as unaudited management review valuations (based on comparables in the market) as at June 30th, 2022.

Notable Portfolio Highlights:

IV Hydreight - IV Hydreight provides immediate wellness through its mobile platform and core team of professionally trained service providers. Hydreight’s unique, custom built, proprietary telemedicine service allows users to book confidential health and wellness and/or medical services at their home, hotel, office, or wherever they might need discreet assistance with the same ease and convenience as booking a ride or ordering food delivery. Hydreight has a 503B pharmacy license under the United States Federal Food, Drug and Cosmetic Act and is a U.S. certified e‐script and telemedicine provider, allowing it to provide services in all 50 states. In addition to providing telehealth services, Hydreight’s other products include intravenous drips, Botox, and other medical and medispa treatments for a variety of conditions, including dehydration, anti‐aging, and more.

Victory Square's Subsidiary, IV Hydreight Enters into Definitive Agreement to Complete Qualifying Transaction With Perihelion Capital Ltd.Dripbar LLC will be a New Partner on White Labeled Platform (in partnership with VSDH)

The DRIPBaR will utilize white label platform and digital pharmacy across their 19 locations, as well as offering the platform to their over 430 franchises (in various stages of development) across 27 StatesApprox. 518% Current Growth Rate YOY New Business Partner Sign-ups (2021 vs 2022)

20212022January422February513March938April1037May963June268Total39241

*Numbers are approximate and provided by Hydreight Management

Creator.co - Creator.co has grown to become one of the world’s top‐ranked Influencer platforms. The company is a one stop shop to drive awareness, content, and conversions for brands on Instagram, Facebook, Twitter, YouTube, and TikTok. The Creator.co platform automates Influencer marketing for young brands and start‐ups, nationals, and agencies, allowing brands to discover ultra‐tailored creators and launch a campaign with them in minutes. Over 150,000 Creators are currently collaborating with brands through Creator.co (with over 10,000 new Creators being added monthly)

Creator.co Passport NFT Drop Supports the Planting of One Million TreesCreator Passport NFT is the first-ever NFT designed to benefit Creators on their journey towards content-successCreator has partnered with Polygon studios to launch the Creator Passport NFT on Polygon, helping keep the carbon footprint and gas lowApprox. 200% sales growth YOY and an approx. 50% community growth rate YOY (Q2 2021 vs Q2 2022)Ranked 3rd for Influencer Marketing Platforms for 2022

GameOn (CSE:GET) - GameOn powers the biggest sports,media, and entertainment companies with the most innovative white label game technologies. GameOn provides broadcasters, TV networks, streaming platforms, leagues, tournaments, sportsbooks, and NFT projects with white label prediction games, fantasy games, and NFT‐based games. Since completing the Comcast NBCUniversal LIFT Labs Accelerator powered by Techstars in 2018, GameOn has secured revenue‐generating partnerships with global companies, including NBCUniversal, Bravo, and MX Player.

Reported $207,151 in revenue in Q1, 2022, up from $2,791 in Q1, 2021, and on track to reach $1M in revenue in 2022 / profitability in 2023.Launched Primal Pick'Em for Chibi Dinos, which is live and playable.Launched the Bet On Women game for Gaming Society and the WNBA, founded by Jaymee Mesler (The Players' Tribune) and Kevin Garnett.Announced a partnership with Tetavi for an NFT-based music fantasy game. It'll be live by end-of-summer and allow music fans to discover new music, invest in the songs, and receive royalties based on streams and charts, in essence building their own record label.

XR Immersive (CSE:VRAR) - XR Immersive Technologies is behind the “Physical Portal to the Metaverse” with the launch of their UNCONTAINED VR platform, as well as designing, building, and installing immersive and engaging experiences for some of the world’s leading companies.

XR Immersive Tech Launches Its UNCONTAINED VR Attraction At Playland Amusement Park XR Immersive Tech Announces Partnership with QuarkXR For Industry First VR Streaming Solution

Next Decentrum - Next Decentrum democratizes access to art and culture by making digital collections joyful to explore, simple to collect, and rewarding to the user. Next Decentrum’s product, Momentable, allows museums and artists to publish art and artifacts as digital collectibles to reach a global audience and take advantage of new funding and revenue opportunities.

Raised $4M USD to fund product development and market growthPartnered with Rise with Refugees to launch The Rise Collection

Stardust Solar - 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. With a network of solar training centers across North America, Stardust Solar is already widely regarded as the leader in solar education now having certified over 2,000 solar installers across Canada and the USA. With a growing list of franchise locations across North America, Stardust leans on its background to educate homeowners about important key differences in solar products and their warranties, and offers choices when purchasing life-changing solar equipment, including Sunpower.

CSA approved EV Charger Installation Training completedCurrently have 16 franchises (14 in Canada and 2 in US) compared to the 2021 year end total of 12 franchises in Canada, with an anticipated 4 more to be added over the next 6 months100% Year-Over-Year Growth

Fansunite (CSE:FANS) - FansUnite is a global sports and entertainment company, focused on technology related to regulated and lawful online betting, gaming, and other related products. The company has produced a one‐of‐a‐kind complete iGaming platform, with a sports and esports focus geared for the next generation of online bettors and casino players.

FansUnite (TSX:FANS) Commences Trading on the Toronto Stock ExchangeFANS Reports Total revenue of $9.67 million in Q1 Fiscal 2022, an increase of 804% over Q1 Fiscal 2021FansUnite Signs Definitive Licensing Agreement with Welsh Bookmaker Dragon Bet

CoPilot Advisors - CoPilot AI is a Software‐as‐a‐Service (SaaS) company that uses AI technology to help sales teams automatically target qualified prospects on social media, initiate one‐to‐one conversations, and surface timely sales opportunities without requiring any content marketing, spam emails, or advertising. CoPilot AI is expected to become the backbone of all AI sales activity on the internet within 5 years

Release of Video by CoPilot

Create personalized videos in bulk on Video by CoPilot platform in less time

Turnium Technology Group (TSXV: TTGI) - Turnium Technology Group, Inc. delivers its SD-WAN solution as a white label, containerized, disaggregated software platform that channel partners host, manage, brand, and price and as a managed cloud-native service provided by Turnium. Both Turnium SD-WAN offers are available through a channel partner program designed for Communications Service Providers, Internet and Managed Service Providers, System Integrators, and Value-Added Resellers.

Turnium Technology Group Inc.. ("TTGI") begins trading on the TSX Venture Exchange on Wednesday, June 22, 2022Turnium Technology Group Inc. Announces 5 Year Master Pricing Agreement with Major Asia-Pacific TelecomTurnium Named a 2021 Intel Network Builders Winner Circle Member

Covalent CQT - Covalent provides the industry-leading Unified API bringing visibility to billions of Web3 data points. Developers use Covalent to build exciting multi-chain applications like crypto wallets, NFT galleries, and investor dashboard tools utilizing data from 32+ blockchains. Covalent is trusted by a community of 27,000+ developers and powers data for 1000+ applications including 0x, Zerion, Rainbow Wallet, Rotki, Bitski and many others.

Covalent reaches 9% staking supply, integrates two blockchains and receives over 350 hackathon registrations55 Team Members, 15,000+ Developers, Mature API stack for 26 blockchains, 20+ Hackathons, 2500+ Alchemists

Cloud Advisors - Cloud Benefit Solutions is an established SaaS platform within the group life and health insurance industry that offers Canada’s largest Insurtech cloud platform and marketplace powered by AI.

Launching V3: Next Generation Of Employee Benefits Marketplace And AdviceInsurTech Disrupter CloudAdvisors Takes Revolutionary Step Forward For Employee Benefits With Bar Score Technology

Media & Webinars:

Webinar - The Company invites you to join the next Investor Q&A Webinar with CEO Shafin Diamond Tejani, details found below.

Date: Thursday, July 28, 2022
Time: 1:05 pm PST/ 4:05 pm EST
Location: via Zoom

Please register at the link provided here

Media - The Company and its Executive Team has been featured in a variety of publications which include: Forbes, Entrepreneur and Newsweek. Additionally, the Company participated in a number of webinars.

Yahoo Finance:VSQTF: A Liquid Way to Diversify Into Early-Stage Venture at a Deep Discount to NAV

Newsweek: Nurses Are Burned Out—Can On-Demand Health Care Apps Help?

Forbes:What’s Next For Digital Healthcare
Newsweek:Why Sex Tech Is the Overlooked Giant of the Wellness Industry
CoinTelegraph:How creator coins could be the break Web3 needs
Entrepreneur:Web3 Could See Its Own Dot-Com Boom. Here's How To Survive The Bust.
Newsweek:3 (Unexpected) Ways The Metaverse May Change Your Life This Year
Forbes:Five Lessons From A Dotcom-Bubble Veteran For Today’s Retail Investors
Techonomy:Necessity, Not Passion, Drives The Creator Economy
6 Minute CEO:Victory Square Technologies
SmallCap 60: $VST - “Providing Investment Access to a New Breed of Disruptive Firms”
6 Minute CEO:Victory Square Technologies - 3 Company Spinouts
Agoracom:$VSQTF Ends 2021 With $100 MILLION NAV For 25+ Portfolio Companies
6 Minute CEO: Victory Square Technologies - All about the NAV
6 Minute CEO:Victory Square - Liquid VC Capital - Digital Health Space

Check out VictorySquare.com and sign up to VST’s official newsletter at www.VictorySquare.com/newsletter.

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: [email protected]
Telephone: 604 283-9166

Peter Smyrniotis – Director
Telephone: 604 283-9166

Use of Non-GAAP Financial Measures:

This release contains references to NAV which is a non-GAAP financial measure. NAV is calculated as the value of total assets. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP financial measure presented in Victory Square Technologies Inc. consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding the Company’s performance, and may assist in the evaluation of the Company’s business relative to that of its peers. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP, and is not necessarily indicative of other metrics presented in accordance with GAAP. Existing NAV of the Company is not necessarily predictive of the Company’s future performance or the NAV of the Company as at any future date.

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 early-stage access to the next unicorns before they’re unicorns. Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides.

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. 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.

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 “Goals for the Next Quarter”, “2022 Outlook” 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. 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.