Victory Metals Announces Private Placement Financing
Victory Metals Announces Private Placement
Financing
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR
FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
Sept. 16, 2020
/CNW/ -
Victory Metals Inc.
(TSX-V: VMX) ("
Victory
" or the
"
Company
") announces it intends to complete a non-brokered private placement offering for
proceeds up to
$2,000,000
through the issuance of up to 5,000,000 common shares in the capital of
the Company (the "
Shares
") at a price of
$0.40
per Share (the "
Private Placement
").
Victory intends to use the proceeds of the Private Placement to advance its Iron Point Vanadium
Project and for general working capital purposes.
All securities to be issued in connection with the Private Placement will be subject to a four-month-
and-one-day statutory hold period in accordance with applicable securities laws. Completion of the
Private Placement will be subject to the approval of the TSX Venture Exchange.
About Victory Metals
Victory owns a 100% interest in the Iron Point Vanadium Project, located 22 miles east of
Winnemucca, Nevada
. The project is located within a few miles of Interstate 80, has high voltage
electric power lines running through the project area and a railroad line passing across the northern
property boundary. The Company is well financed to advance the project through resource
estimation and initial feasibility study work. Victory has a proven capital markets and mining team led
by Executive Chairman
Paul Matysek
. Major shareholders include Palisades Goldcorp (48%), and
management, directors and founders (27%).
Please see the Company's website at
www.victorymetals.ca
.
On Behalf of the Board of Directors of
VICTORY METALS INC.
Paul Matysek
Executive Chairman and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statements Regarding Forward Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable securities legislation.
All statements, other than statements of historical fact, included herein, without limitation,
statements relating the future operating or financial performance of the Company, are forward-
looking statements. Forward-looking statements are frequently, but not always, identified by words
such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and
similar expressions, or statements that events, conditions, or results "will", "may", "could", or
"should" occur or be achieved. Forward-looking statements in this news release relate to, among
other things, the completion of the Private Placement and the use of proceeds of the Private
Placement. Actual future results may differ materially. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions
and projections on the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political and social uncertainties and
contingencies. Many factors, both known and unknown, could cause actual results, performance or
achievements to be materially different from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these factors. Such factors include,
without limitation, the Company's failure to find suitable purchasers for the Private Placement, the
failure of the TSX Venture Exchange to approve the Private Placement and management's
discretion to reallocate the use of proceeds. Readers should not place undue reliance on the
forward-looking statements and information contained in this news release concerning these items.
The Company does not assume any obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except as required by applicable
securities laws.
SOURCE
Victory Metals Inc
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For further information:
Contact Collin Kettell at [email protected] or (301) 744-8744.
CO: Victory Metals Inc
CNW 08:30e 16-SEP-20