VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2013) - Victory Ventures Inc. (the "Company") (TSX VENTURE:VVN)(FRANKFURT:VV0) is pleased to announce that its 3,000,000 Unit private placement announced April 25, 2013 has been oversubscribed. Subject to regulatory approval, the Company intends to close a non-brokered private placement of 4,100,000 Units at $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional share at $0.10 per share for a two year period (the "Warrants"). The Company will pay an aggregate of $12,550 and issue 151,000 Finders Warrants, which will carry the same terms and conditions as the Warrants.
Subject to regulatory approval, the Company is carrying out an additional non-brokered private placement of 5,000,000 Units at $0.06 per Unit. Each Unit will consist of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.12 per share for a two year period.
A cash finders' fee, as well share purchase warrants ("Finder Warrants") equal to 10% of the proceeds raised may be paid to qualified finders. The Finder Warrants shall contain the same terms and conditions as the Warrants issued to investors.
On behalf of the Board of Directors:
Howard Milne, Director
Victory Ventures Inc. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of precious metal properties in North America. The Company's Shares are listed and posted for trading on the TSX Venture Exchange under the symbol "VVN" and on the Frankfurt Exchange under the symbol "VV0". |