Victory Continued Development of Corporate Governance Structure
Market Wire, September, 2008
Victory Energy Corporation (OTCBB: VYEY) announced today that the Corporation has engaged a consulting firm to assist in the continued development of a Corporate Governance Structure.
Corporate Principles, Policies, and Guidelines will be established that include an Audit and Finance Committee, Compensation Committee, Corporate Governance and Nominating Committee, and Public Policy Committee. The Corporation will integrate its current practices into a Code of Business Conduct and Code of Ethics standard.
The Audit and Finance Committee will assist the Corporation in its compliance with Sarbanes Oxley and GAAP. The Corporation is in the process of a securing a CFO responsible for the accuracy and completeness of all financial documents.
"Developing a Corporate Governance Structure is evolutionary in the growth of every company. Victory has developed to a point where this is vital to the Corporation's continued expansion. It is anticipated that the Corporate Governance Structure will be in place within the next 60 days," commented President Jon Fullenkamp.
About Victory Energy Corporation:
Victory Energy Corporation ( www.victoryenergyoilandgas.com ) is a publicly traded, developmental stage petroleum company primarily dedicated to energy-related opportunities. The Company goal is to evaluate profitable options, develop a solid foundation through leadership and sound business acumen, and acquire producing wells as well as other potentially profitable prospects within the Oil & Gas Industry.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. The Company's filings may be accessed at the SEC's EDGAR system at www.sec.gov . Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements.
For information contact: Investor Relations 1-702-953-0528
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