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Supreme Critical Metals Inc. (VRCFF) maintains this comprehensive news hub for tracking developments in critical metals exploration and strategic initiatives. Investors and industry observers will find authoritative updates on mineral project evaluations, corporate milestones, and market positioning within the battery metals sector.
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Victory Battery Metals Corp. has announced its transformation to Supreme Critical Metals Inc., accompanied by a 10:1 share consolidation. The company will trade under the new symbol CRIT on the CSE starting October 28, 2024. Post-consolidation, the company has 4,744,222 common shares outstanding. The consolidation extends to options and warrants, with adjusted exercise prices multiplied by ten. This restructuring aims to enhance the company's flexibility in pursuing future financing opportunities.
Victory Battery Metals Corp. (CSE:VR, OTC PINK:VRCFF) has announced its intention to change its name to Supreme Critical Metals Inc. and consolidate its shares. The company plans to implement a 10-to-1 share consolidation, reducing its outstanding shares from 47,442,222 to 4,744,222. This consolidation will also apply to outstanding options and warrants, with their exercise prices adjusted accordingly. The company will trade under the new symbol 'CRIT' on the CSE.
The Board of Directors approved these changes on October 18, 2024. The share consolidation aims to provide the company with increased flexibility for future financing opportunities. The implementation of these changes is subject to approval from the Canadian Securities Exchange.
Victory Battery Metals Corp. (CSE:VR, FWB:VR6, OTC PINK:VRCFF) has closed its acquisition of Yellow Chief Uranium Inc. properties in Utah and Saskatchewan. The company issued 8,000,000 common shares at a deemed price of $0.05 per share, as per the June 26, 2024 Option Agreement. These shares are subject to a four-month and one-day hold period.
Initially an arms-length transaction, the deal's nature changed when Yellow Chief's CEO became Victory's CEO. If classified as a related party transaction, Victory would rely on exemptions from valuation and minority shareholder approval requirements of MI 61-101, as the participation was less than 25% of the company's market capitalization at the time.
Victory Battery Metals Corp. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) has announced changes to its board of directors and management. The new board consists of Gerald Tritt, David Stadnyk, and George Tsafalas, all based in Vancouver, BC. David Stadnyk has been appointed as the new president and CEO. The company is also preparing to finalize its Yellow Chief Uranium acquisition within the next 10 days. Victory Battery Metals expressed gratitude to Mark Ireton for his service to the company.
Victory Battery Metals Corp. (CSE:VR)(OTC PINK:VRCFF) has appointed Gary Musil to its Board of Directors, effective July 1, 2024. Musil brings over 35 years of management and financial consulting experience, having served as an officer and director for numerous public companies since 1988. He replaces David Lane, who has resigned from the board.
Additionally, the company has announced a non-brokered private placement to raise up to $675,000 by issuing 20,454,545 units at $0.033 each. Each unit consists of one share and half a warrant, with each whole warrant allowing the purchase of an additional share at $0.10 for two years. The proceeds will be used for working capital and general corporate purposes.
Victory Battery Metals Corp. has acquired the Yellow Chief uranium property in Utah along with four additional uranium properties in Saskatchewan, expanding their total uranium holdings to 12,815 hectares. The acquisitions are part of an Option Agreement signed on June 26, 2024, with Victory required to pay $200,000 in cash, issue 16,000,000 common shares, and incur $600,000 in exploration expenditures over three years. The Yellow Chief property, located in Juab County, covers 28 claims and has produced significant uranium ore in the past. The Saskatchewan properties include the PK property and two Mozzie Halo blocks, which offer potential uranium and rare-earth-element mineralization. This strategic expansion aims to leverage past exploration results and geographic diversity to enhance Victory's uranium portfolio.
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