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Victory Metals Announces Closing of Second and Final Tranche of Private Placement with Lead Order from Crescat Capital
Victory Metals Announces Closing of Second and Final Tranche of Private Placement with Le...
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[{"type":"text","content":"\n \n \n \n Victory Metals Announces Closing of Second and Final Tranche of Private Placement with Lead Order from Crescat Capital\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 18, 2021\n \n /CNW/ -\n \n Victory Metals Inc.\n \n (TSX-V: VMX)\n \n \n (\"\n \n Victory\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that on\n \n January 15, 2021\n \n , further to its news releases in\n \n December 2020\n \n , it closed, subject to final approval of the TSX Venture Exchange (\"\n \n TSX-V\n \n \"), the second and final tranche of its non-brokered private placement financing (the \"\n \n Private Placement\n \n \") of subscription receipts of Victory (\"\n \n Subscription Receipts\n \n \"). In connection with the second and final tranche of the Private Placement, Victory issued 5,237,200 Subscription Receipts at a price of\n \n $0.55\n \n per Subscription Receipt (the (\"\n \n Subscription Price\n \n \") for gross proceeds of\n \n $2,880,460\n \n . Together with the first tranche of the Private Placement, Victory issued an aggregate of 32,806,902 Subscription Receipts for aggregate gross proceeds of\n \n $18,043,796.10\n \n .\n \n \n \n \n \n \n \n \n \n \n Highlights:\n \n \n \n \n Victory originally announced on\n \n December 7, 2020\n \n , that it intended to complete the Private Placement for a minimum of\n \n $8 million\n \n .\n \n \n Victory announced on\n \n December 22, 2020\n \n , an increase in the size of the Private Placement to approximately\n \n $17.5 million\n \n to accommodate significant excess demand.\n \n \n The first tranche of\n \n $15,163,336\n \n in gross proceeds closed on\n \n December 23, 2020\n \n .\n \n \n The second tranche has now closed with Crescat Capital LLC, a\n \n Denver\n \n -based hedge fund, providing the lead order.\n \n \n \n \n Financing Summary:\n \n \n \n The completion of the Private Placement by Victory represents the satisfaction of on...