Victory CLoses FIrst Tranche of Private Placement
Monday, 22 February 2016 00:00

Vancouver, BC – VICTORY RESOURCES CORPORATION (the “Company”) announces that is has closed the first tranche of the private placement re-announced on February 12, 2016. The Company has issued 520,000 units (‘Units”) for gross proceeds of $26,000. Each Unit consists of one common share issued at $0.05 per share and one warrant (a “Warrant”). Each Warrant may be exercised by the holder to purchase one additional common share at a price of $0.10 per share, for 24 months from closing.

The proceeds of this private placement will be used for general working capital purposes.

No finder’s fees were paid.

All securities issued will be subject to a four-month hold period expiring June 17, 2016.

About the Company
Victory is a mineral exploration company focused on creating value through the exploration and development of its British Columbia mineral properties. Victory has received all permits and studies required to complete a drill program on the Queen Zone of its Merritt Property, with work to commence in the spring of 2016.

Corporate Responsibility
Victory Resources Corporation has a stated commitment of neighboring communities through dedicated programs with a goal to improve the quality of life for all of its local citizens. Supported by our corporate values, our corporate philosophy promotes creation of a positive work environment, which is crucial to the success of our company. We uphold our values through policies and environmental programs that foster employee commitment to sustainable development. We strive to create an environment that promotes mutual respect for our employees, subcontractors, neighboring communities, host governments and the general population. In keeping with our commitment to promote the development of the communities neighboring our properties, our recruitment initiatives focus on hiring local employees. We believe in the importance providing training to local employees so they can eventually benefit from positions of greater responsibility.

 

On behalf of The Board of Directors of Victory Resources Corporation.

Roger Frost
President, CEO

 

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements.

Neither 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 press release, which has been prepared by management.