Victory Announces Non-Brokered Private Placement

Rhea-AI Summary

Victory Resources Corporation (CSE:VR, OTC PINK:VRCFF) has announced a non-brokered private placement to raise up to $2,000,000 by issuing units priced at $0.07. Each unit will comprise one common share and one warrant, allowing purchase of an additional common share at $0.10 for two years. The funds will support general working capital, acquisitions, and ongoing exploration in Nevada and British Columbia. Victory reserves the right to accelerate the expiry date of warrants if shares trade above $0.25 for 10 days.

Positive

• Raising up to $2,000,000 through a non-brokered private placement.
• Warrants allow for share purchase at $0.10, potentially increasing shareholder value.
• Funds intended for working capital and exploration, which may lead to growth.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 28, 2021 / Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce it is undertaking a non-brokered private placement of up to $2,000,000 by the issuance of units at $0.07, each unit consisting of one common share and one warrant entitling the holder to subscribe for one additional common share at $0.10 for 2 years from the date of closing. The Company reserves the right to accelerate expiry date upon 30 days notice in the event the Common Shares trade at or above $0.25 for 10 trading days, including days where no trades occur.

The Company intends to use the proceeds for general working capital, acquisitions and work programs on the Company's existing exploration properties in Nevada and British Columbia, and any additional properties the Company may acquire.

For further information, please contact:

Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities 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 Corporation

View source version on accesswire.com:
https://www.accesswire.com/643198/Victory-Announces-Non-Brokered-Private-Placement

FAQ

What is the purpose of Victory Resources Corporation's private placement?

The private placement aims to raise up to $2,000,000 for general working capital, acquisitions, and exploration work in Nevada and British Columbia.

What is the share price for units in the private placement by VRCFF?

The units in the private placement are priced at $0.07 each.

What are the terms of the warrants issued by Victory Resources Corporation?

Each unit includes a warrant allowing for the purchase of one additional common share at $0.10 for two years.

How will the funds from the private placement be utilized?

Funds will be used for general working capital, acquisitions, and work programs on exploration properties.

What conditions can lead to the acceleration of warrant expiry for VRCFF?

Victory reserves the right to accelerate the expiry date if common shares trade at or above $0.25 for 10 trading days.