Victory Resources Announces Private Placement
VANCOUVER, January 29, 2019 - Victory Resources Corp. (TSX – V:VR) (FWB: VR61) (OTC PINK: VRCFF) ("Victory" or the "Company") announced it has completed its recently announced non-brokered private placement. The Company issued 10,525,000 units at a price of $0.10 per unit, for gross proceeds of $1,052,500. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.15 for a period of two years from the date of closing. Securities issued pursuant to this financing are subject to trading restrictions until May 30, 2019.
The Company paid finders fees to qualified finders in the amount of $69,400 and issued 694,000 brokers warrants. Net proceeds from the private placement will be used for general working capital.
For further information, please contact:
David Lane, President
Telephone: +1 (236) 317 2822
E‐mail: IR@victoryresourcescorp.com
About Victory Resources Corporation
Victory Resources Corp. (TSX – V: VR) is a publicly traded junior international mining corporation with interests in North America, Europe and Africa. The Company is currently developing its existing operation in South Central British Columbia, as well as scoping green energy mineral permits in Europe and Africa.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Victory Resources Corp.