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
Proceeds of the Private Placement will be used for an ongoing work and
drill program on its Mexican Reforma property as well as general
The company agreed to pay finders' fees to arm's-length qualified
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
For further information:
Please contact Wally Boguski at 604-580-9605