Victory Battery Metals Corp Announces Debt Settlement Through Equity Issuance

Victory Battery Metals Corp. (CSE:VR)(FWB:VR6)(OTC PINK:VRCFF), a diversified investment corporation with mineral interests in North America, announced a significant step towards improving its financial health with a debt settlement strategy. The Vancouver-based company revealed it has successfully negotiated settlements to clear $463,025 of debt. This will be accomplished through the issuance of 9,260,500 shares, valued at a deemed price of $0.05 per share.

The shares issued as part of the debt settlement will be subject to a holding period of four months plus one day following the closing. Victory highlighted that no finder's fees would be involved in the transactions. Moreover, certain insiders of the company participated in these settlements for accrued and unpaid fees and expenses, utilizing exemptions in NI 61-101 from minority approval and valuation requirements typically mandated for related party transactions.

This move signals the company's dedication to enhancing its balance sheet and reducing financial liabilities through strategic equity distribution. The decision aims to position Victory Battery Metals Corp. for future growth and operational success in the mineral investment sector.