Victory Announces Private Placement
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY ANNOUNCES PRIVATE PLACEMENT
• Common shares offered at a price of $0.022 with a $0.05 warrant
• Flow-through units offered at a price of $0.05 with a $0.07 warrant
VANCOUVER, BC, CANADA (October 17th, 2022) – Victory Resources Corporation (CSE:
VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that
it is undertaking a non-brokered private placement of up to $2,000,000, consisting of both flow-
through and non flow-through units (“FT Units”). The FT Units are offered at a price of $0.05
and consist of one common share and one common share purchase warrant exercisable at
$0.07 for a period of 24 months. Each FT Unit will qualify as a “flow-through share” within the
meaning of subsection 66(15) of the Income Tax Act (Canada). The Corporation reserves the
right to accelerate the warrant expiry period upon 30 days’ notice if the shares trade at $0.15 for
a period of 10 consecutive days, including days where no trades occur.
The non flow-through units consist of one common share of the Corporation offered at a price of
$0.022 and one common share purchase warrant exercisable for a period of 24 months at an
exercise price of $0.05. The Company reserves the right to accelerate the warrant expiry period
upon 30 days’ notice if the shares trade at $0.10 for a period of 10 consecutive days, including
days where no trades occur.
The net proceeds from the sale of non flow-through units will be used for working capital
requirements and other general corporate purposes. The gross proceeds from the sale of FT
Units will be used for exploration expenses on the Company’s mining projects as permitted
under the Income Tax Act (Canada) to qualify as CEE (as defined therein).
The Company may pay qualified finders commissions of 8% and 8% finder’s warrants in respect
to the non flow-though unit offering, and a commission of 8% in respect to the FT Unit offering.
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: [email protected]
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 be liefs 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", "predic ts", "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 forw ard-
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.