Victory Ventures Completes First Tranche Of Financing and Prepares for Drill Program
TSX VENTURE EXCHANGE: VVN May 28, 2013 FRANKFURT: VV0
Victory Ventures Completes First Tranche Of Financing and Prepares for Drill Program
Victory Ventures Inc. (the “Company”) is pleased to report that it has completed the first tranche of a private placement by issuing 2,100,000 Units at $0.06 per Unit. Each Unit consists of one common share and one share purchase warrant (“Warrants”), exercisable to acquire an additional common share at $0.12 per share for a two year period. The shares, and any shares issued on exercise of the Warrants, are subject to a hold period expiring September 25, 2013.
The Company paid $12,000 in commissions and issued 70,000 Finders’ Warrants, which contain the same terms and conditions as the Warrants forming part of the Units.
Net proceeds will be used for the Company’s upcoming drill program on the Copau Property (the “Property”) in the Iskut River area of British Columbia. The Property has been permitted for up to five diamond drill holes, to be drilled from existing road access and to depths of between 400 meters and 500 meters to test the full potential of the depth‐strengthening IP chargeability anomalies on the surveyed grid portion of the Property.
The Company expects to close a second tranche of this financing shortly.
On behalf of the Board of Directors: For more information please contact: “Howard Milne” Tel: (604) 377‐8994
Director Email: [email protected] 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.