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IN THE UNITED STATES./
Victory Metals Inc. (TSXV:VMX)
("Victory" or the "Company") is pleased to announce that, further to its news release dated December 4, 2020 and December 22, 2020, it has closed, subject to final approval of the TSX Venture Exchange ("
TSX-V"), the first tranche of its non-brokered private placement financing (the "
Private Placement") of subscription receipts of Victory ("
Subscription Receipts"). Pursuant to the Private Placement, Victory issued 27,569,702 Subscription Receipts at a price of $0.55 per Subscription Receipt (the "Subscription Price") for aggregate gross proceeds of $ 15,163,336 million.
Highlights:
Victory originally announced that it intended to complete the Private Placement for a minimum of $8 million. On December 22, 2020 Victory announced an increase in the size of the Private Placement to approximately $17.5 million to accommodate significant excess demand.