VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/16/13 -- Victory Ventures Inc. (the "Company")(TSX VENTURE: VVN)(FRANKFURT: VV0) is pleased to announce that it has completed an oversubscribed non-brokered private placement of 4,100,000 Units at $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional share at $0.10 per share for a two year period (the "Warrants"). The Company has paid an aggregate of $15,000 and issued 200,000 Finders Warrants, which carry the same terms and conditions as the Warrants ("Finders Warrants").
Subject to regulatory approval, the Company is carrying out an additional non-brokered private placement of 5,000,000 Units at $0.06 per Unit. Each Unit will consist of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.12 per share for a two year period.
A cash finders' fee, as well as Finders Warrants equal to 10% of the proceeds raised will be paid to qualified finders. The Finders Warrants shall contain the same terms and conditions as the Warrants issued to investors.
On behalf of the Board of Directors:
Howard Milne, Director
Victory Ventures Inc. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of precious metal properties in North America. The Company's Shares are listed and posted for trading on the TSX Venture Exchange under the symbol "VVN" and on the Frankfurt Exchange under the symbol "VV0".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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