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Victory Metals Arranges Financing with Strategic Investors for $3,500,000
Victory Metals Arranges Financing with Strategic Investors for $3,500,000 Canada N...
About this update from Nevada King Gold Corp
[{"type":"text","content":"\n\n\n\nVictory Metals Arranges Financing with Strategic Investors for $3,500,000\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\nCanada NewsWire\nVANCOUVER, April 30, 2019\n\n\n\nVANCOUVER, April 30, 2019 /CNW/ - Victory Metals (\"TSX-V:VMX\") (\"Victory\" or the \"Company\") is pleased to announce that it has arranged a non-brokered private placement to raise a minimum of $3,500,000 through the issuance of 5,225,000 shares at a price of $0.67 per share. One strategic investor is subscribing for 4,500,000 shares or $3,015,000. \n\n \n \n\n \nPaul Matysek, Executive Chairman stated: \"Securing this financing will allow us to continue our rapid advancement towards resource definition and completion of a Preliminary Economic Assessment. The work to date has clearly shown that Iron Point posseses one of the larger vanadium mineralization footprints. A Phase II drill program will be mobilized shortly aimed at infilling gaps from our maiden drilling, as well as better understanding the lateral and downward extent of vanadium mineralization at Iron Point.\"\nUpon closing of the placement, the Company will have in excess of $7,500,000 in cash and be one of the better capitalized North American primary Vanadium companies. \nCertain insiders of the Company may participate in a portion of the financing.\nThe Company may pay finders' fees to eligble parties that have assisted by introducing subscribers to the placement. All securities to be issued in connection with the placement will be subject to a four-month-and-one-day statutory hold period, in accordance with applicable securities laws. Completion of the placement remains subject to the approval of the TSX Venture Exchange. \nAbout Victory Metals\nVictory owns a 100% interest in the Iron Point Vanadium Project, located 22 miles east of Winnemucca, Nevada. The project is located within a few miles of Interstate 80, has high voltage electric power lines running through the project area and a railroad line passing across the northern property boundary. The Company is well financed to advance the project through resour...