VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2012) - Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) reports that it has received TSX Venture Exchange approval to issue 250,000 common shares of the Company as bonus shares (the "Bonus Shares") resulting from the $250,000 loan the Company received in May 2012.
The Loan will bear interest at 1% per month on the principal amount and will be used for working capital of the Company until the closing of a financing can be completed to repay the Loan. The Loan was also subject to a 7.5% finders fee, which has been paid by the Company.
Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) is a Junior Exploration Company based in Western Canada. The Company has interests in 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
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."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."
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