Victory Oilfield Tech Announces Private Placement Offering of Up to $7 Million and Posts New Company Presentation to Website

Jun 22, 2018

AUSTIN, Texas, June 22, 2018 (GLOBE NEWSWIRE) -- Victory Oilfield Tech (OTCQB:VYEY) ("Victory" or the “Company”) today announced that it is presently raising up to $7 million of new capital to help accelerate the Company’s expansion into the oilfield energy-tech industry through a Private Placement. The net proceeds from the offering are expected to be primarily utilized for targeted oilfield service company acquisitions, accelerate product acceptance and buildout of key infrastructure, including expansion of early-stage product manufacturing and distribution, order fulfillment, customer support, key executive team additions, payment of previously accrued liabilities and the launch of a branding effort to expand awareness of Victory’s revolutionary amorphous alloy coatings products.

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