Mr. Howard Milne reports
VICTORY VENTURES ARRANGES $500,000 PRIVATE PLACEMENT AT $0.02 PER SHARE
Subject to TSX Venture Exchange acceptance to a pricing waiver, Victory Ventures Inc. is proceeding with a non-brokered private placement of up to 25 million shares at two cents per share to raise gross proceeds of up to $500,000. The company will pay finders' fees on a portion or the entire private placement in accordance with the policies of the TSX-V.
Net proceeds will be applied toward a coming initial exploration program on the company's Alberta lithium-brine properties, including data compilation, GIS (geographical information system) and target well delineation, water sampling, and a determination of resource worthiness, as well as to general working capital. Depending upon results of the initial program, the company may carry out further work to determine reservoir characterization and brine hydrology.
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