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Victory Energy Receives Millions In Funds

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March 4, 2014

Victory Energy Corp. (OTC: VYEY) obtained $36.4 million in bank and private placements funds through its interest in Aurora Energy Partners LLC, the company said Feb. 25.

Victory Energy, as Aurora’s controlling manager, will utilize a $26.4 million credit facility from Dallas-based Texas Capital Bank, the company said.  Additional capital, of up to $10 million, will come from San-Jose, Calif.-based Navitus Energy Group, the company said. Navitus is Victory’s partner in Aurora, the company added.

The funding round multiplies, by seven times, the company’s $5 million market value, Victory Energy ...

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