By Sheri Kasprzak
Atlanta, April 27 - Victoria Resource Corp. said it has closed a C$4 million private placement of units.
The company sold a total of 7,272,726 units at C$0.55 each. The total includes 1.8 million units sold under the greenshoe exercised by placement agents Haywood Securities Inc. and Canaccord Capital Corp.
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.
The offering was first announced March 17 as a C$3 million deal comprised of 5,454,545 units under the same terms.
Bema Gold Corp., which owns 32% of Victoria, bought 2 million 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$4 million
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| Units: | 7,272,726 (includes greenshoe for 1.8 million)
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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
|
| Settlement date: | April 27
|
| Stock price: | C$0.61 at close March 17
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| Stock price: | C$0.42 at close April 27
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