By Sheri Kasprzak
New York, April 26 - Victoria Resource Corp. said it plans to raise up to C$7.5 million in a private placement.
The deal includes up to 10 million units of one share and one half-share warrant. Each full warrant is exercisable at C$1.00 each for one year.
Bema Gold Corp., which holds 31% of Victoria's stock, will buy 3 million units.
Haywood Securities Inc. and Canaccord Capital Corp. are the placement agents.
Proceeds will be used for exploration on the company's Nevada properties and for general corporate purposes.
Gold exploration company Victoria is based in Vancouver, B.C.
| Issuer: | Victoria Resource Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$7.5 million (maximum)
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| Units: | 10 million (maximum)
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| Price: | C$0.75
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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$1.00
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| Placement agents: | Haywood Securities Inc. and Canaccord Capital Corp.
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| Investor: | Bema Gold Corp. (for 3 million units)
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| Pricing date: | April 26
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| Stock symbol: | TSX Venture: VIT
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| Stock price: | C$0.85 at close April 26
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