Victory Resources Corporation - Non Brokered Private Placement Arranged

Symbol:-TSXV.VR

VANCOUVER, Nov. 9, 2011 /CNW/ - VICTORY RESOURCES CORPORATION (the "Company") is pleased to announce that it has arranged a non-brokered private placement which consists of up to 6,000,000 Non-flow-through Units. The total Non-flow-through proceeds arranged are up to $2,100,000.

Each Unit will be priced at $0.35 cents which will consist of one non-flow-through common share and one-half non-flow-through warrant. Each full warrant entitles the holder to purchase one common share at a price of $0.50 cents per share following 24 months from the closing date.

Proceeds of the Private Placement will be used for an ongoing work and drill program on its Mexican Reforma property as well as general working capital.

The company agreed to pay finders' fees to arm's-length qualified parties.

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

Paul Lee, Director

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.  

For further information:

Please contact Wally Boguski at 604-580-9605

Organization Profile

Victory Resources Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890