Victory Battery Metals Corp. announced a private placement financing of up to 6,000,000 units of the company at a price of CAD 0.05 per unit for aggregate gross proceeds of up to CAD 300,000 on May 19, 2023. Each unit will be composed of one common share in the capital of the company and one common share purchase warrant.

Each warrant entitles the holder thereof to purchase one additional common share at a price of CAD 0.07 per common share for a period of two years following the closing date of the offering, subject to accelerated expiry as described herein. If, at any time, the closing price of the company's common shares is greater than CAD 0.20 per common share for 10 consecutive days, including days where there is no trading, the company may provide written notice to the holders that the expiry of the warrants shall be accelerated to a date that is not fewer than 30 days from the date of the warrant acceleration notice. In connection with the offering and as disclosed in the offering document, the company may pay finders' fees in cash, securities or a combination of both, as permitted by Canadian Securities Exchange policy and applicable securities laws.

The closing date of the offering is expected to occur on or about May 25, 2023, or such later date or dates as the company may determine, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including approval from the Canadian Securities Exchange.