Victory Mountain Ventures Announces Entry into Frac Sand Business
February 27 2014 - 9:00AM
Marketwired
Victory Mountain Ventures Announces Entry into Frac Sand Business
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 27, 2014) -
Victory Mountain Ventures Ltd. (TSX-VENTURE:VMV) ("Victory")
announces that it has developed a business plan that focuses on the
acquisition, development and measurement of high-quality silica
fracking sand used in the Oil and Gas Industry. Frac sand is a
crush resistant material used to increase the flow of oil and gas
during hydraulic fracturing of wells.
Victory is currently performing due diligence on a number of
potential acquisitions in the silica sand space.
Director Patrick Morris, commented, "Currently Canadian Oil and
Gas companies use approximately 3.5 million tonnes of fracking sand
per year, 90% of which is imported from the mid-western United
States. Our goal is to produce a local supply of high quality frac
sand in Canada for Canadian Oil and Gas companies."
The Company continues to
proceed with the financing previously announced February 18, 2014.
Subject to the approval of the TSX Venture Exchange, the Company
aims to issue up to 10,000,000 non flow-through units at a price of
$0.05 per unit consisting of one common share and one half of one
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 eighteen (18) months from the date of closing.
The proceeds of the private
placement will be used to pursue opportunities to enhance
shareholder value and for general working capital. Finder's fees,
as allowed pursuant to the policies of the TSX Venture Exchange,
may be payable in connection with the offering.
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
"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
Director604-683-5445604-687-9631info@victorymv.comwww.victorymv.com