Victory Ventures Proceeds with Offering at $0.025 Per Unit
TSX VENTURE EXCHANGE: VVN FRANKFURT: VV0 June 15, 2016
Victory Ventures Proceeds with Offering at $0.025 Per Unit
Victory Ventures Inc. (the “Company”) Further to its news release dated June 10, 2016 the Company is pleased to announce that it has received TSX Venture Exchange acceptance of a pricing waiver. The Company is proceeding with a non‐brokered private placement (the "offering") of up to 2,000,000 Units (the "Units") at a price of $0.025 per Unit to raise gross proceeds of up to $50,000. Each Unit consists of one common share and one share purchase warrant, entitling the holder to acquire an additional common share at $0.05 per share for a two year period. If aggregate subscriptions for Units under the offering exceed the maximum number of Units to be sold, the Company may increase the size of the offering or subscriptions will be allocated pro rata amongst all subscribers qualifying under all available exemptions.
The maximum offering is 2,000,000 Units offering is open, subject to certain limitations discussed below, to existing shareholders of the Company who, as of the close of business on June 9, 2016, held common shares of the Company (and who continue to hold common shares of the Company at the time of closing) pursuant to the prospectus exemption set out in Multilateral CSA Notice 45‐313 and the various corresponding blanket orders and rules of participating jurisdictions (the existing shareholder exemption is not available in Ontario or Newfoundland and Labrador). The total acquisition cost to a subscriber under the existing shareholder exemption cannot exceed $15,000 unless that subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment. Any existing shareholders interested in participating in the offering should contact the Company.
In addition to using the existing shareholder exemption, the offering will also be conducted pursuant to other available prospectus exemptions, including sales to accredited investors, family members, close friends and business associates of directors and officers of the Company and to purchasers who have obtained suitability advice from a registered investment dealer pursuant to BC Instrument 45‐536.
The proceeds of $50,000 will be used for general corporate purposes.
Although the Company intends to use the proceeds of the offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations and unforeseen events or opportunities. All Shares issued pursuant to the offering will be subject to a four‐ month hold period. A 10% cash finder’s fee may be paid to eligible finders with respect to any portion of the offering that is not subscribed for by existing shareholders.
The Company confirms there is no material fact or material change related to the Company, which has not been generally disclosed.
For further information, interested parties should contact the Company’s Corporate Secretary by telephone at (604) 608‐1118 or by email to [email protected].
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On behalf of the Board of Directors: For more information please contact:
Tel: (604) 377‐8994
“Howard Milne” Email: Howard Milne, [email protected]
Corporate Secretary, [email protected] President Website: www.victoryventures.ca
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”.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES