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Victory Metals Closes $3,618,000 Oversubscribed Financing With Insiders & Strategic Investor
Victory Metals Closes $3,618,000 Oversubscribed Financing With Insiders & Strategic In...
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[{"type":"text","content":"\n\n\n\nVictory Metals Closes $3,618,000 Oversubscribed Financing With Insiders & Strategic Investor\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\nVictory Metals Closes $3,618,000 Oversubscribed Financing With Insiders & Strategic Investor\nCanada NewsWire\nVANCOUVER, May 9, 2019\n\n\n\nVANCOUVER, May 9, 2019 /CNW/ - Victory Metals Inc. (\"TSX-V:VMX\") (\"Victory\" or the \"Company\") is pleased to announce it has closed an oversubscribed non-brokered private placement, raising $3,618,000 through the issuance of 5,400,000 shares at a price of $0.67 per share. One strategic investor subscribed for 4,500,000 shares or $3,015,000 while certain insiders subscribed for an aggregate of $402,000.\n\n \n \n\n \nHighlights:\nOne strategic investor subscribed for 4,500,000 shares or $3,015,000; Full participation from the Company's Board of Directors and Executive Management; andIn addition to participating in the financing, CEO Collin Kettell has increased his ownership of Victory by 2,917,406 shares through the private purchase of shares of Casino Gold, which owns 41,837,681 shares of Victory. Mr. Kettell now controls 16% of the issued and outstanding shares of Victory.Paul Matysek, Executive Chairman of the Company, stated: \"We are very pleased to close on this oversubscribed financing, which will allow us to continue our rapid pace of advancement at Iron Point. Participation from Management and our Board of Directors clearly underscores our team's commitment and confidence in the Project. Victory now enjoys over $7,000,000 in cash which will be instrumental in progressing on our resource, metallurgy and engineering objectives.\"\nThe Company paid a finder's fee of 270,000 shares. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period, in accordance with applicable securities laws. Completion of the private 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...