Mr. Shafin Diamond Tejani reports

VICTORY SQUARE'S XR IMMERSIVE TECH LICENSES LBVR PLATFORM TO DEPLOY REALITY IN $4.5M AGREEMENT

Victory Square Technologies Inc.'s portfolio company, XR Immersive Tech Inc., has entered into a licensing agreement to license its location-based virtual reality (LBVR) platform to European Company Deploy Reality.

Highlights of the licensing agreement:

• Immersive Tech grants Deploy Reality the rights to use the SVR website, manage, service, bill and operate all the SVR clients as Deploy Reality for a period of five years from July 1, 2024, for $4.5-million and the ability to purchase a licence to the SVR brand within this time frame from Immersive Tech.

• The value of the initial purchase payment is $805,571.60, and Deploy Reality agrees to directly or indirectly invest $102,147 every month into SVR for research and development expenditures beginning July 1, 2024.

• Immersive Tech agrees that once Deploy Reality has paid a total amount of $4.5-million, full ownership to license SVR brand will be transferred to Deploy Reality.

• This agreement will be reviewed on July 1 each year to ensure both parties are upholding their responsibilities.

"We are thrilled to enter into this licensing agreement with Deploy Reality," said Alexandros Tzillios, director of XR Immersive Tech. "This partnership marks a significant milestone for us, demonstrating the growing demand and value of our SVR platform. By leveraging Deploy Reality's expertise and resources, we are confident that the SVR brand will continue to thrive and expand in the European market. This collaboration not only accelerates our growth but also reinforces our commitment to providing our innovative VR, AR and AI experiences to a broader audience. We look forward to a successful and transformative partnership."

XR Immersive Tech focus for the second half of 2024:

• Sales and licensing deals for the company's LBVR platform, as well as its AI applications including the AI Avatar Clone, DigitalTwinX and AI LipDub tools.

• Building out VR/AR education, training, and research and development services in the enterprise sector. It is much safer to train professionals in the health care industry, architecture, automation and aircraft design and many others. It is much cheaper to use VR/AR than real-life test fields.

1. The AI powered Creative Agency. As part of expanding the company's capabilities and exposure to high-growth industries, the company has formed a team of creative professionals that specialize in graphics, video and visual effects editing to leverage the latest tools using AI (artificial intelligence) to create stunning content and marketing solutions for brands and companies. The products and content range from serving the rapidly growing influencer market to a new pilot film that uses AI to craft its visual effects.

• AI applications. When it comes to LBVR studios, AI can be used to generate worlds and relatively random environments. This increases the replayability value and the world generation cost can be significantly reduced. It makes even more sense for XR games that use the camera's passthrough mode to add virtual elements to your actual environment. AI could better recognize the environment and generate obstacles and maps intact with your physical environment. This can be further improved by using asset generation through a more human-like AI. It has a similar use case for enterprise training and education. Developing a quality and detailed VR experience takes a lot of effort, AI is light-speeding the process.

About XR Immersive Tech Inc.

Since 2016, the company has been an industry leader in social entertainment, artificial intelligence (AI), virtual reality (VR) and augmented reality (AR) entertainment attractions. The company builds experiences on its platforms for some of the world's largest companies including: Intel, Bayer, Capital One, Scotia Bank, the U.S. Food and Drug Administration, Allegiant Airlines, and more.

About Victory Square Technologies Inc.

Victory Square is a venture builder that provides investors a liquid way to invest in early stage technology companies without buying a venture fund that requires accredited investor status or multiyear commitments.

A diverse portfolio of 25-plus innovative companies from around the world (founders come from: Ireland, Sri Lanka, Bulgaria, Australia, India, Brazil, the Middle East and North America). Sectors include: digital health, artificial intelligence (AI), machine learning (ML), blockchain/Web3, virtual and augmented reality (VR/AR), and gaming.

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