Victory Ventures Clarifies Financing Exemptions

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[{"type":"text","content":"Victory Ventures Clarifies Financing ExemptionsVANCOUVER, BC / ACCESSWIRE / February 25, 2016 / Victory Ventures Inc. (TSXV: VVN) (FSE: VVO) (the \"Company\"). Further to the Company's news release dated February 2, 2016, the Company wishes to clarify and highlight a new prospectus exemption recently made available by certain securities commissions in Canada. \nCanadian purchasers resident in British Columbia, Alberta, Saskatchewan, Manitoba and New Brunswick can now participate in a brokered or non-brokered private placement, provided that the purchaser has obtained advice regarding suitability of the investment from a person who is registered as an investment dealer in that jurisdiction. The Company intends to use that prospectus exemption, as well as the accredited investor exemption, friends, family and business associates, and the existing security holder exemption to complete its financing. \nThe Company previously announced that it intends to carry out a non-brokered private placement (the \"offering\") of approximately 6,000,000 Units (the \"Units\") at a price of $0.015 per Unit to raise gross proceeds of approximately $90,000. The Company has been granted an exemption by the TSX Venture Exchange regarding the minimum pricing policy. Each Unit consists of one common share and one share purchase warrant, entitling the holder to acquire an additional common share at $0.05 per share for a two year period. If aggregate subscriptions for Units under the offering exceed the maximum number of Units to be sold, the Company may increase the size of the offering or subscriptions will be allocated pro rata amongst all subscribers qualifying under all available exemptions. \nAll Shares issued pursuant to the offering will be subject to a four-month hold period. A 10% cash finder's fee may be paid to eligible finders with respect to any portion of the offering that is not subscribed for by existing shareholders. \nThe Company confirms there is no material fact or material change related to the Company, which has not been generally disclosed.\n On behalf of the Board of Directors:\n\"Howard Milne\" \nPresident \nFor more information please contact:\nTel: (604) 377-8994 \nEmail: Howard Milne, [email protected]\nCorporate Secretary, [email protected] \nWebsite: www.victoryventures.ca \nNeither TSX Venture Exchange nor its Regulation Servi...

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