Victory Announces Debt Settlement
Friday, 23 September 2016 00:00
Vancouver, BC – Victory Resources Corporation (the “Company”) is pleased to announce that is has agreed to debt settlements (the “Debt Settlements”) whereby it will issue up to 3,339,651 common shares (“Shares”) to creditors, at a deemed value of $0.06 per Share, to settle debts aggregating CDN$200,379.03. Of the total debt to be settled, $89.671.01 is debt held by non-arm’s-length parties.This transaction remains subject to TSX-V approval.
About the Company
Victory is a mineral exploration company focused on creating value through the exploration and development of its British Columbia and Ontario mineral properties.
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.
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.