VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 18, 2014) - Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) ("Victory") announces that it has arranged a non-brokered private placement of up to 10,000,000 units for total proceeds of up to $500,000; subject to the approval of the TSX Venture Exchange.
Up to 10,000,000 units will be issued as non flow-through units at a price of $0.05 per unit consisting of one common share and one half of one warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for eighteen (18) months from the date of closing.
The proceeds of the private placement will be used to pursue opportunities to enhance shareholder value and for general working capital. Finder's fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with the offering.
The Company also announces that Mr. Patrick Morris will be joining the board of directors. Mr. Morris 44, is President of Vimoris Ventures Inc., a company which provides management consulting, corporate finance and business development services to public and private companies. Mr. Morris has served on the board and managed several exploration companies from incorporation to listing on the TSX Venture Exchange. Mr. Morris has also enjoyed success in the field of marketing as a specialist in financial programming and advertising for public companies in the media.
The Company further announces that pursuant to its stock option plan, it has granted incentive stock options to its directors, officers, consultants, and employees to purchase in the total of 250,000 common shares in the capital stock of the company, subject to regulatory approval, exercisable for a period of five years, at a price of $0.05per share.
Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) is a Junior Exploration Company based in Western Canada. The Company has interests in Copper, Gold, Silver, Molybdenum and other base metals in Canada.
On Behalf of the Board of Directors
VICTORY MOUNTAIN VENTURES LTD.
Charles Desjardins, President and Director
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.