By Devika Patel
Knoxville, Tenn., July 11 - Victoria Resource Corp. announced it has arranged a private placement for up to C$2 million.
The deal includes up to C$2 million in units priced at C$0.60 of one share and one half-share warrant. Each full warrant is exercisable at C$0.75 each for two years. Victoria did not say how many units it will sell.
The company may pay a finder's fee of 7%.
EastWest Gold Corp., formerly known as Bema Gold, which holds 28.5% of Victoria's stock, will buy 1 million of the units.
Proceeds will be used for exploration of Victoria Resource's Nevada properties and for general corporate purposes.
Gold exploration company Victoria is based in Vancouver, B.C.
| Issuer: | Victoria Resource Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $2 million (maximum)
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Investor: | EastWest Gold Corp. (for 1 million units)
|
| Pricing date: | July 11
|
| Stock symbol: | TSX Venture:VIT
|
| Stock price: | C$0.85 at close July 10
|
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