Deal finances exploration program on the Olive and Shamrock targets
By Devika Patel
Knoxville, Tenn., Nov. 30 – Victoria Gold Corp. said it completed a C$1.76 million non-brokered private placement of stock on Nov. 26.
The company sold 10,329,164 flow-through common shares at C$0.17 apiece. The price per share is a 30.77% premium to C$0.13, the Nov. 25 closing share price.
Proceeds will be used for an exploration program on the Olive and Shamrock targets at the company's Dublin Gulch project.
“This flow-through financing enables Victoria to continue to explore the high priority Olive and Shamrock targets while preserving the hard dollars in the company treasury,” president and chief executive officer John McConnell said in a press release. “This financing, Victoria's first since November 2011, offers a significant premium and minimal dilution to our shareholders.”
Victoria Gold is a gold exploration company based in Toronto.
| Issuer: | Victoria Gold Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1,755,958
|
| Shares: | 10,329,164
|
| Price: | C$0.17
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 26
|
| Stock symbol: | TSX Venture: VIT
|
| Stock price: | C$0.13 at close Nov. 25
|
| Market capitalization: | C$42.51 million
|
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