Victory Resources Announces Closing of the First Tranche of Common Share Unit Non-Brokered Private Placement
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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For Immediate Release
VICTORY RESOURCES ANNOUNCES CLOSING OF THE FIRST TRANCHE OF COMMON SHARE UNIT NON-
BROKERED PRIVATE PLACEMENT
VANCOUVER, BC, CANADA (August 12th, 2020) – Victory Resources Corporation (CSE: VR) (FWB: VR61)
(OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce the closing of the first tranche of its
previous announced non -brokered common share unit financing. The Corporation raised gross
proceeds of $1, 769,600 through the sale of 2 3,594,665 equity units. The placement consists of units
priced at $0.075 each, with each unit consisting of one share and one warrant exercisable for 2 years
from closing at an exercise price of $0.10. After this issue, the Company will have 4 2,919,748 shares
issued and outstanding.
Securities issued on this closing shall be subject to resale restrictions to December 13, 2020. A total of
$29,815 and 626,453 finders’ warrants were issued to two finders on this transaction. The finders’
warrants are on the same terms as the warrants forming part of the units . Insiders participated in
respect to 186,666 units.
The Corporation intends to use the proceeds for g eneral working capital, acquisitions and a work
program on the Company’s existing exploration B.C. property and any additional properties the
Company may acquire.
For further information, please contact:
Ivy Lu
Investor Relations
David Lane, President
Telephone: +1 (236) 317 2822
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 currently seeking other
exploration opportunities, preferably in Canada.
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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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 beliefs 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", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations
(including negative variations) of such words and phrases or may be identified by st atements 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 p reparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward -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.