VANCOUVER, Feb. 12, 2019 /CNW/ - Victory Metals Inc. ("TSX-V:VMX") ("Victory" or the "Company") is pleased to announce that Mr. Doug Forster, M.Sc., P.Geo., has joined the Board of Directors of the Company effective immediately. The Board and Management of Victory welcome Mr. Forster's participation on the board and believe he will provide key knowledge and understanding on both the project and capital market levels.
Mr. Forster has been involved in the mining industry and capital markets for over 35 years having acted as geologist, founder, director, senior executive and financier. Most recently he was Founder, President & CEO of Newmarket Gold Inc. ("Newmarket"), which acquired and then operated three gold mines in Australia with annual production of over 225,000 oz/year. Newmarket was acquired by Kirkland Lake Gold in a $1.0 billion transaction in 2016. Doug has extensive experience and a proven track record in resource project development, mine operations, capital markets, equity and debt financing, and mergers and acquisitions. Mr. Forster holds a B.Sc. and M.Sc. in geological sciences from the University of British Columbia and is a Member of the Association of Professional Engineers and Geoscientists of British Columbia.
Mr. Forster, Director of Victory stated: "Having worked with Paul Matysek on the advancement and sale of Potash One Inc. in 2011 I am looking forward to once again working with Paul and the Victory Metals board and management team to advance the Iron Point Vanadium Project. The Iron Point Project in Nevada hosts a unique combination of widespread vanadium mineralization, outstanding infrastructure, and favourable mining jurisdiction and represents an excellent foundational asset for Victory Metals."
Paul Matysek, Executive Chairman of Victory stated: "We are very pleased to welcome Mr. Forster on our Board as we advance Iron Point to the next level. I have known Doug for over 30 years, as a fellow entrepreneur and Director. He's one of the most knowledgeable and experienced mining executives in our business and will certainly leave his mark on Victory Metals. We are very fortunate to have him on our team."
About Victory Metals
Victory owns 100% interest in the Iron Point Vanadium Project, 22 miles east of Winnemucca in Humboldt County, Nevada. The project is located a few kilometers off Interstate 80, has electric power lines running through the project area, and a railroad line passing across the northern boundary of the property. 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 Casino Gold (50%), and management, directors and founders (25%). Further, over 51% of the issued and outstanding shares of the Company (43,471,014 shares) are subject to an escrow release over three years.
Please see the Company's website at www.victorymetals.ca.
On Behalf of the Board of Directors of
VICTORY METALS INC.
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.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, including the business of the Company, the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, and delay, inability to complete a financing or failure to receive regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE Victory Metals Inc
For further information: Collin Kettell at [email protected] or (301) 744-8744.