Victory Mountain Closes First Tranche of Private Placement and Plans Exploration
2014年4月2日 - 10:00PM
Marketwired
Victory Mountain Closes First Tranche of Private Placement and
Plans Exploration
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 2, 2014) -
Victory Mountain Ventures Ltd. (TSX-VENTURE:VMV) ("Victory")
announces that it has closed the first tranche of the non-brokered
private placement previously announced February 18th 2014.
A total of 2,850,000 units will be issued as non flow-through
units at a price of $0.05 per unit for total proceeds of $142,500.
Each unit will consist of one common share and one half of one
share purchase 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 18 months from the date of closing.
Shares, warrants and any shares issued upon exercise of the
warrants are subject to a hold period of four months expiring
August 2, 2014. The proceeds of the private placement will be used
for planning and preparation of an exploration program on the
Company's frac sand project and general working capital.
The following insiders participated in the private placement:
Doug McFaul 200,000 units, Gordon Jang 300,000 units and Patrick
Morris 300,000 units.
Finders Fee: Canaccord Genity Corp. - $1,000 cash and 20,000
Broker warrants and Haywood Securities Inc. - $4,000 cash and
80,000 Broker warrants. Each Broker Warrant is convertible into
non-flow through units of the Company at an exercise price of $0.05
until expiration on October 1, 2015. Each unit comprises one share
and one half of one share purchase 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 18 months from the date
of closing.
The company would also like to announce that it has assembled an
experienced geological team to conduct an initial two phase
exploration program on its Silica / Frac Sand property in Alberta.
Apex Geoscience Ltd, based in Edmonton Alberta, has extensive
experience in the Western Canadian Sedimentary Basin (WCSB)
including Oil and Gas, sand and gravel, crushed rock aggregate, oil
sands and has a solid working knowledge of Alberta Government
regulatory policies, including exploration permitting, assessment
reporting and ongoing relationships.
Michael Dufresne, Consulting Geologist and President of Apex
Geoscience commented: "The initial phase of exploration will
revolve around compiling the abundant oil and gas information for
the property and constructing a 3D model of potential clean
silica-rich sands for certain target areas into a volume estimate
for the Pelican Formation over the next couple of months. The
second phase of work, which will be field based, could commence as
early as May - June and will involve mapping, sampling and either
drill testing or trenching in order to progress to a NI 43-101
compliant resource estimate late this year or early next year."
Director Patrick Morris commented: "We are very pleased to have
Michael and his team at Apex initiate the first two phases of
geological exploration at Ells River. This first timeline of work
and expenditures confirms just how quickly and economically,
relative to traditional mining exploration, we can reach our first
major milestone of a 43-101 compliant resource estimate at Ells
River."
The content of this news release and the Company's technical
disclosure has been reviewed and approved by Michael B. Dufresne,
M. Sc., P. Geol., who is the Qualified Person as defined by
National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
Victory Mountain Ventures Ltd. (TSX-VENTURE:VMV) is a Junior
Exploration Company based in Western Canada. The Company has
interests in Silica (Frac Sand), 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."
Cautionary note:
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.
Victory Mountain Ventures Ltd.Charles DesjardinsPresident and
Director604-683-5445info@victorymv.com
(TSXV:VMV)
過去 株価チャート
から 6 2024 まで 7 2024
(TSXV:VMV)
過去 株価チャート
から 7 2023 まで 7 2024