The Prospector News

Virginia to Complete a CA$7 M Flow-Through-Share Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Virginia to Complete a CA$7 M Flow-Through-Share Private Placement

 

 

 

 

 

 

Virginia Mines Inc. (TSX:VGQ) announces that it has negotiated a private placement that consists of 333,334 flow-through common shares at a price of $21.00 per share, which represents a 70% premium to the 20-day volume weighted average trading price of the common shares of Virginia on the Toronto Stock Exchange for the period ended January 23, 2014, for gross proceeds of CA$7,000,014. Laurentian Bank Securities Inc. has been appointed as the agent for the offering.

 

On closing, Virginia has agreed to pay LBS a cash fee equal to 6% of the gross proceeds of the Offering.

 

The Offering is scheduled to close on or before February 10, 2014 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. The Flow-Through Shares will be subject to a four-month-hold period in Canada.

 

Proceeds from the offering will be used to fund exploration work on Virginia’s numerous projects for the next 18 months.

About Virginia

 

Virginia conducts its exploration activities over the vast, unexplored territories of Northern Quebec in order to create value for its shareholders while protecting the quality of life for both present and future generations. With a working capital position of $40.4 million as at November 30, 2013, and a large area of mining claims in Quebec North, Virginia is among the most active mining exploration companies in Quebec. Strengthened by the discovery of the Eleonore project and more than 20 years expertise on the territory, Virginia’s exploration team is recognized as one of the best in Canada. Virginia also holds a 2% to 3.5% royalty in the Eleonore property.

Posted January 28, 2014

Share this news article

MORE or "UNCATEGORIZED"


Northern Vertex Reports Record Quarterly Production, Revenue and Adjusted EBITDA

Northern Vertex Mining Corp. (TSX: NEE) is pleased to announce re... READ MORE

November 27, 2020

Yorbeau Closes Non-Brokered Private Placement

Yorbeau Resources Inc. (TSX: YRB) is pleased to announce that it ... READ MORE

November 27, 2020

Talisker Intersects 995 g/t Gold Over 0.5 Metres within 227.55 g/t Gold Over 2.25 Metres at the Bralorne Gold Project

Talisker Resources Ltd. (TSX: TSK) (OTCQX: TSKFF) is pleased to a... READ MORE

November 26, 2020

Copper Mountain Closes C$17.25 Million Bought Deal Offering of Common Shares

Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) i... READ MORE

November 26, 2020

Surge Copper Drills 0.72% Copper Equivalent Over 176.1 Metres At Ootsa Including 0.89% Copper Equivalent Over 126 Metres

Surge Copper Corp. (TSX-V: SURG), is pleased to announce assay re... READ MORE

November 26, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions