Victory Ventures (VN-V) to close oversubscribed financing
May 9, 2013 - News Release
Victory Ventures Inc.'s three-million-unit private placement announced April 25, 2013, has been oversubscribed. Subject to regulatory approval, the company intends to close a non-brokered private placement of 4.1 million units at five cents per unit. Each unit consists of one common share and one share purchase warrant, exercisable to acquire an additional share at 10 cents per share for a two-year period. The company will pay a total of $12,550 and issue 151,000 finder warrants, which will carry the same terms and conditions as the warrants.
Subject to regulatory approval, the company is carrying out an additional non-brokered private placement of five million units at six cents per unit. Each unit will consist of one common share and one share purchase warrant, exercisable to acquire an additional common share at 12 cents per share for a two-year period.
A cash finders' fee, as well as share purchase warrants equal to 10 per cent of the proceeds raised, may be paid to qualified finders. The finder warrants shall contain the same terms and conditions as the warrants issued to investors. |
