VANCOUVER: Victory Square Technologies Inc. (VST) has signed a binding letter of intent (LOI) to invest in the renewable energy company Stardust Solar, a leading renewable energy company operating in the United States and Canada.
Founded in 2017, Stardust Solar is a leader in renewable energy education in Canada, 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.
VST CEO Shafin Diamond Tejani said, “We are very excited to be investing in Stardust Solar. This strategic investment aligns with our Company’s vision of working with technology and sustainability influencers as we endeavour to eradicate damage to our environment and create a more sustainable and eco-friendlier footprint.”
Tejani continued, “And, it’s not just an environmental issue, it’s an economic opportunity as well. Good innovation investing focuses on technologies and companies that are likely to have a positive impact on the environment, our society, and the world’s ability to create further innovations.”
Full details of the Investment will be disclosed to the public following the completion of the Investment. Completion of the Investment will be in compliance with CSE policies and is subject to due diligence by the Company, execution of definitive agreements in respect of the Investment, as well as other conditions to closing.
The Company also announced granting of 300,000 incentive stock options to consultants of the Company at an exercise price of $0.80 per share. The options are exercisable for a period of two years.