Victory Resources Announces Share Consolidation
43078562_1|NATDOCSVictory Resources Corporation - Suite 734, 1055 Dunsmuir Street, Vancouver, BC, V7X 1B1
For Immediate Release
VICTORY RESOURCES ANNOUNCES SHARE CONSOLIDATION
VANCOUVER, BC, CANADA (June 23rd, 2020) – Victory Resources Corporation (CSE: VR) (FWB:
VR61) (OTC: VRCFF) (“Victory” or the “Company”) announced it intends to proceed with a
consolidation of its common shares (each, a “Share”) on the basis of ten (10) pre-consolidation
Shares for one (1) post-consolidation Share (the “Consolidation”). The Board of Directors
approved the consolidation on June 9, 2020.
The Company currently has 193,221,049 Shares issued and outstanding. Accordingly, once the
Consolidation is effective, the Company will have 19,322,104 Shares issued and outstanding,
assuming there are no other changes in the issued capital of the Company.
The Company intends to also proceed with consolidating its outstanding options and warrants
on a ratio of ten (10) to one (1), with the result that each consolidated option and warrant will
entitle the holder to acquire one Share at an exercise price of ten (10) times its original exercise
price.
The Consolidation is being proposed in order to provide the Company with increased flexibility
to seek additional financing opportunities and is subject to the approval of the Canadian
Securities Exchange. The Company will not change its name as part of the Consolidation. The
consolidation is planned for Friday, June 26th, subject to final exchange approval.
For further information, please contact:
David Lane, President
Telephone: +1 (236) 317 2822
E-mail: [email protected]
About Victory Resources Corporation
43078562_1|NATDOCSVictory Resources Corporation - Suite 734, 1055 Dunsmuir Street, Vancouver, BC, V7X 1B1
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.
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 risk s 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 acqui sitions, 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 currentl y 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 statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be
taken, occur or be achieved. A numbe r 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 forward -
looking statements. The Company does n ot 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.