Business
Victory Resources Raises over $1 Million
VANCOUVER, BC / ACCESSWIRE / November 4, 2021 / Victory Resources Corporation (CSE:VR) (FWB:VR61) (OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to an
About this update from Maverick Gold And Silver Corporation
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / November 4, 2021 / Victory Resources Corporation (CSE:VR) (FWB:VR61) (OTC PINK:VRCFF) (\"Victory\" or the \"Company\") is pleased to announce that it has closed its non-brokered private placement (the \"offering \") as previously announced on November 2, 2021 raising a gross aggregate total of $1,093,995. The Company issued 19,890,816 units (\"Unit\"). Each Unit is comprised of one common share in the capital of Victory Resources and one common share purchase warrant (each a \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CDN $0.07 per share until November 4, 2023 and are subject to an acceleration clause as previously announced. In connection to the Offering the Company paid certain eligible finders fees of $56,063.99 cash and will issue a total of 1,019,345 non transferable finders warrants subject to the same terms and conditions as noted above. Insiders participation in the offering was for an aggregate amount of $35,750.00 comprising 650,000 Units representing 3.5% of the offering. Such participation is considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The related party transaction is exempt from minority approval and valuation requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities to be issued under the Offering nor the consideration to be paid by the insiders exceeds 25% of the Company's market capitalization. All securities issued under the Offering are subject to a four-month hold period in accordance with applicable Canadian securities laws. The Company intends to use the proceeds from the sale of Units for the ongoing exploration and drilling program on its ongoing projects including the Smokey Lithium Property located in Esmeralda County, Nevada. Partial funds will also be put towards general working capital in furtherance of the Company's business. The Company also announces that pursuant to its Stock Option Plan (the \"Plan\") it has granted a total of 2.7 million stock options at an exercise price of $0.07 per common share to certain directors, officers and consultants of the Company. The option grant ma...