By Sheri Kasprzak
New York, Aug. 2 - Virginia Gold Mines Inc. said it has arranged a private placement for C$3,237,500.
The company plans to sell 350,000 flow-through shares at C$9.25 each to four flow-through funds. The price per share represents a 22.5% premium to the company's closing stock price on Tuesday.
Proceeds will be used for exploration on the Eleonore project and for other exploration.
Based in Montreal, Virginia Gold Mines is a gold and mineral exploration company.
| Issuer: | Virginia Gold Mines Inc.
|
| Issue: | Flow-through shares
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| Amount: | C$3,237,500
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| Shares: | 350,000
|
| Price: | C$9.25
|
| Warrants: | No
|
| Pricing date: | Aug. 2
|
| Stock price: | C$7.55 at close Aug. 2
|
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