Mineral explorer sells shares at C$14.00 apiece to finance exploration
By Devika Patel
Knoxville, Tenn., June 13 - Virginia Mines Inc. said it has negotiated a C$3 million private placement of stock with agent Oberon Capital Corp.
The company will sell 214,285 flow-through common shares at C$14.00 per share. The price per share represents a 64.51% premium to C$8.51, the June 10 closing share price.
Settlement is expected June 28.
Proceeds will be used for exploration.
Quebec City-based Virginia Mines is a gold and base metal exploration company.
| Issuer: | Virginia Mines Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3 million
|
| Shares: | 214,285
|
| Price: | C$14.00
|
| Warrants: | No
|
| Agent: | Oberon Capital Corp.
|
| Pricing date: | June 13
|
| Settlement date: | June 28
|
| Stock symbol: | Toronto: VGQ
|
| Stock price: | C$8.51 at close June 10
|
| Market capitalization: | C$260.17 million
|
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