Subject: Victory Resources Corp Announces $5 Million Financing Commitment
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TSX-V: VR OTCQX: VRCFF |
Victory Resources Corp Announces $5 Million Financing Commitment VANCOUVER, June 28, 2012 /PRNewswire/ – Victory Resources Corp. (Symbol TSX-V: VR, OTCQX: VRCFF) (the “Company”) is pleased to announce that it has entered into an agreement with GEM Global Yield Fund Limited (“GEM”) for a $5.0 million CDN financing commitment. Funds raised through this facility will be used for the ongoing drill program and the subsequent engineering work to bring the Reforma mine to feasibility. Funds will also be used for the development of the Company’s recently optioned Boleo property in Mexico, the Toni property located near Merritt, B.C., as well as general working capital. “We are very excited to have entered into this agreement with a world class investment group like GEM. The $5 million facility will assure that our company has access to capital beyond our current drill program,” said Wally Boguski, president and CEO. “We look forward to the results of our ongoing drill program on the Reforma mine as well as the results from the drill program on the tailings pond from the historic Reforma mine operations.” Continue Reading |
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