VANCOUVER, BC, CANADA, Sept. 01, 2023 (GLOBE NEWSWIRE) — Victory Battery Metals Corp. (CSE: VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) announces that the Company has entered into a Mining Claims Option Agreement between the Company and Alexandr Beloborodov Geologue Inc.. (the “Purchaser”), dated August 15, 2023 (the “Purchase Agreement”), providing for the sale by the Company of an undivided 100% interest in and to various mining claims located in Lac Simard, Quebec, for a total consideration of CAD $115,000.
The Company will retain a royalty of 2% of net smelter returns (“NSR”). The Purchaser shall have the option to purchase 1% of the NSR from the Corporation upon payment of $1,000,000, and up to an additional ½% NSR upon the payment of $1,000,000. The Corporation will retain first right of refusal to purchase the remaining NSR Royalty owned by the Corporation at the discretion of the Corporation.
Mark Ireton, Victory CEO and Director noted: “With a dedicated focus on Stingray, Smokey Lithium, Tahlo Lake and Georgia Lake, our team and resources are best deployed on these promising projects that are more advanced and can return benefits to shareholders in the shorter term, so an offer to sell Lac Simard was accepted, supporting our teams focus on our main properties.”
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: [email protected]
About Victory Battery Metals Corp.
VICTORY BATTERY METALS CORP. (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.