By Sheri Kasprzak
Atlanta, March 17 - Victoria Resource Corp. said it will raise up to C$3 million in a private placement.
The deal includes up to 5,454,545 units at C$0.55 each.
The units are comprised of one share and one half-share warrant. The full warrants allow for an additional share at C$0.75 each for one year.
Bema Gold Corp., which owns 33% of Victoria, said it will buy about 1.8 million units.
Haywood Securities Inc. and Canaccord Capital Corp. are the placement agents and have an over-allotment option for up to 1.8 million additional units.
Based in Vancouver, B.C., Victoria is a gold exploration company. It plans to use the proceeds from the deal for exploration on its Nevada properties, including drilling on the Mill Canyon property, and for general corporate purposes.
| Issuer: | Victoria Resource Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$3 million (maximum)
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| Units: | 5,454,545
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| Greenshoe: | For up to 1.8 million units
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| Price: | C$0.55
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.75
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| Placement agent: | Haywood Securities Inc. and Canaccord Capital Corp.
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| Pricing date: | March 17
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| Stock price: | C$0.59 at close March 16
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