VANCOUVER, March 20, 2013 /PRNewswire/ - VICTORY RESOURCES CORPORATION (the "Company") is pleased to announce the results of the annual general and special meeting (the "Meeting") of shareholders that was held on March 18, 2013.
19,180,849 votes were cast by proxy for a total of 25.4% of the Company's issued and outstanding share capital, giving Management almost unanimous support for all resolutions presented.
At the Meeting, Company shareholders re-elected as directors Messrs. Wally Boguski, Laurence Sookochoff, Paul Lee and Alphonse Ruggiero. Mackay LLP, Chartered Accountants, was appointed as the auditor.
Mr. Boguski was reappointed as Chief Executive Officer and President and Mr. Sookochoff was appointed as the Chief Financial Officer and Secretary. The Company's Audit Committee is comprised of Messrs. Sookochoff, Ruggiero and Lee.
The Company's stock option plan was renewed, and by a special resolution, the alteration of the Company's authorized capital from 100,000,000 common shares to an unlimited number of common shares without par value was approved by shareholders.
About Victory Resources Corporation
The company's main focus is on the Reforma property located at the common boundary of Sinaloa and Chihuahua States in west central Mexico. The concessions cover a total area of 7,226 hectares. Victory Resources has a 70% undivided interest in the Reforma property as part of an option agreement. Formally owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90 per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.
The company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100 % owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 91 mineral claims covering an area of 34,200 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.
On behalf of The Board of Directors of Victory Resources Corporation.
Wally E. Boguski,
President, CEO, director
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements.
Neither 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 press release, which has been prepared by management.
SOURCE Victory Resources Corporation