Victory Mountain Ventures Announces Private Placement and Director
February 18 2014 - 3:33PM
Marketwired
Victory Mountain Ventures Announces Private Placement and Director
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 18, 2014) -
Victory Mountain Ventures Ltd. (TSX-VENTURE:VMV) ("Victory")
announces that it has arranged a non-brokered private placement of
up to 10,000,000 units for total proceeds of up to $500,000;
subject to the approval of the TSX Venture Exchange.
Up to 10,000,000 units will be
issued as non flow-through units at a price of $0.05 per unit
consisting of one common share and one half of one warrant. Each
whole warrant will entitle the holder to purchase one additional
common share of the Company at a price of $0.10 per share for
eighteen (18) months from the date of closing.
The proceeds of the private
placement will be used to pursue opportunities to enhance
shareholder value and for general working capital. Finder's fees,
as allowed pursuant to the policies of the TSX Venture Exchange,
may be payable in connection with the offering.
The Company also announces that Mr. Patrick Morris will be
joining the board of directors. Mr. Morris 44, is President of
Vimoris Ventures Inc., a company which provides management
consulting, corporate finance and business development services to
public and private companies. Mr. Morris has served on the board
and managed several exploration companies from incorporation to
listing on the TSX Venture Exchange. Mr. Morris has also enjoyed
success in the field of marketing as a specialist in financial
programming and advertising for public companies in the media.
The Company further announces
that pursuant to its stock option plan, it has granted incentive
stock options to its directors, officers, consultants, and
employees to purchase in the total of 250,000 common shares in the
capital stock of the company, subject to regulatory approval,
exercisable for a period of five years, at a price of $0.05per
share.
Victory Mountain Ventures Ltd. (TSX-VENTURE:VMV) is a Junior
Exploration Company based in Western Canada. The Company has
interests in Copper, Gold, Silver, Molybdenum and other base metals
in Canada.
On Behalf of the Board of Directors
VICTORY MOUNTAIN VENTURES LTD.
Charles Desjardins, President 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 note:
This report contains forward looking statements. Resource
estimates, unless specifically noted, are considered speculative.
Any and all other resource or reserve estimates are historical in
nature, and should not be relied upon. The production rate and
mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations
will be economically viable. By their nature, forward looking
statements involve risk and uncertainties because they relate to
events and depend on factors that will or may occur in the future.
Actual results may vary depending upon exploration activities,
industry production, commodity demand and pricing, currency
exchange rates, and, but not limited to, general economic factors.
Cautionary Note to US investors: The U.S. Securities and Exchange
Commission specifically prohibits the use of certain terms, such as
"reserves" unless such figures are based upon actual production or
formation tests and can be shown to be economically and legally
producible under existing economic and operating conditions.
Victory Mountain Ventures Ltd.Charles
Desjardins604-683-5445604-687-9631info@victorymv.comwww.victorymv.com