Business
Victory Metals Provides Update Regarding Significantly Oversubscribed Financing
Victory Metals Provides Update Regarding Significantly Oversubscribed Financing ...
About this update from Nevada King Gold Corp
[{"type":"text","content":"\n \n \n \n Victory Metals Provides Update Regarding Significantly Oversubscribed Financing\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 Dec. 22, 2020\n \n /CNW/ -\n \n Victory Metals Inc.\n \n (TSXV: VMX)\n \n (\"Victory\")\n \n is pleased to announce that, further to its news release dated\n \n December 4, 2020\n \n , and due to significant demand, Victory has increased the size 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 \") from\n \n $8 million\n \n to approximately\n \n $17.5 million\n \n .  The Private Placement is expected to close in two tranches, with the first tranche anticipated to close on\n \n December 23, 2020\n \n and the second tranche to close in\n \n January 2021\n \n . The Subscription Receipts will be issued at a price of\n \n $0.55\n \n per Subscription Receipt (the \"\n \n Subscription Price\n \n \").\n \n \n \n \n \n \n \n \n \n The Private Placement is being conducted in conjunction with the previously announced merger of equals transaction (the \"\n \n Merger\n \n \") between Victory and Nevada King Mining Ltd. (\"\n \n \n Nevada King\n \n \n \") pursuant to which Victory will acquire all the issued and outstanding shares of\n \n Nevada King\n \n for common shares of Victory (the \"\n \n Victory Shares\n \n \"), with the shareholders of\n \n Nevada King\n \n to hold 50% of the issued and outstanding Victory Shares on completion of the Merger.  In addition to customary conditions to completion of the Merger, including shareholder, court and regulatory approvals, a key business condition is the completion of an\n \n $8 million\n \n financing at an effective price per Victory share of not less than\n \n $0.50\n \n .\n \n \n \n Details Regarding The Subscription Receipts\n \n \n \n The Subscription Receipts will be issued pursuant to a subscription r...