Victory Square Portfolio Company Grow Tech Labs Developing Cannabis Co-Op

VANCOUVER, British Columbia, Jan. 30, 2019 (GLOBE NEWSWIRE) -- In another move that reflects the proactive, grassroots strategy of Grow Tech Labs (“GTL”), Victory Square Technologies Inc. ("Victory Square" or the "Company") (CSE:VST) (OTC:VSQTF) (FWB:6F6) today announced that its portfolio company will develop a co-operative for small cannabis producers and processors in British Columbia. The initiative is designed to help maintain the province’s historic position as a global cannabis leader.

In addition to being Canada’s traditional cannabis production hub, British Columbia is home to one of the country’s most vibrant co-operative movements, with 2 million members, 700 co-op businesses and almost $50 billion in assets.

“We are excited for the opportunity for micro-growers to participate in this important Grow Tech cooperative,” said Shafin Diamond Tejani, Chief Executive Officer of Victory Square Technologies. “The approach is strongly-aligned with the Victory Square strategy of building from the ground floor up and matches the Grow Tech commitment to the domestic cannabis market, particularly that which is based here in B.C. It’s going to be an exciting year for small producers and we look forward to Victory Square and Grow Tech supporting the craft cannabis market in this way in British Columbia.”

Grow Tech Labs has worked closely with the BC Cooperative Association in exploring the feasibility of developing such a cannabis co-op and doing so on the strength of best practices in the field. Grow Tech will expand this collaborative approach on the cannabis co-op to include other provincial, federal and municipal agencies.

“The Grow Tech mission is to accelerate the pace at which small producers and processors enter the legal marketplace,” said Grow Tech Labs CEO Barinder Rasode. “With supply shortages across the country, it is even more important to retain the capacity, experience and knowledge small BC producers and processors have accumulated over decades. It’s a solid base upon which to build the domestic market, and to do so as a global leader.”

Grow Tech Labs is establishing a working group of sector leaders and experienced co-op professionals to develop a provincial engagement plan, transparent governance structure and application to incorporate a BC Small Cannabis Producer and Processor Co-Op within the provincial Co-operative Association Act. The business model will include a retail network in accordance with BC regulations.

“Small BC cannabis producers and processors are invited to participate in a provincial consultation process to help shape the provincial co-op, participate in Canada’s legal marketplace and ensure BC cannabis products find their way to consumers across the province, Canada and around the world,” said Rasode.

For further information about the Company, please contact:

Investor Relations Contact – Alex Tzilios
Email: [email protected]
Telephone: 778-867-0482

Media Relations Contact – Shafin Diamond, CEO and Director
Email: [email protected]
Telephone: 604-928-6066

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

Victory Square Technologies (VST) incubates and invests in emerging technology companies, providing them with financial, operational & strategic support to scale globally.

We get unparalleled access to some of the top technology start-ups from around the world through our 80+ accelerator partners globally.   Our portfolio companies are working on innovating and disruptive technologies that have the potential of transforming economic structures, business models, companies and jobs.

Our leadership team uses experience, expertise and resources to help grow and scale these portfolio companies, which results in explosive returns for VST and its shareholders. For more information, please visit www.victorysquare.com.  

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FORWARD-LOOKING INFORMATION

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