National Bank sells shares at C$18.10 each to finance exploration work
By Devika Patel
Knoxville, Tenn., March 4 - Virginia Mines Inc. said it will conduct a C$5 million private placement of stock with a C$1 million greenshoe. National Bank Financial Inc. is the agent.
The company will sell 276,300 flow-through common shares at C$18.10 each. The price per share is an 82.83% premium to the March 1 closing share price of C$9.90.
Settlement is expected March 25.
Proceeds will be used for exploration work.
Quebec City-based Virginia Mines is a gold and base metals exploration company.
Issuer: | Virginia Mines Inc.
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Issue: | Flow-through common shares
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Amount: | C$5,001,030
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Greenshoe: | C$1,004,550
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Shares: | 276,300
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Price: | C$18.10
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Warrants: | No
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Agent: | National Bank Financial Inc.
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Pricing date: | March 4
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Settlement date: | March 25
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Stock symbol: | Toronto: VGQ
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Stock price: | C$9.90 at close March 1
|
Market capitalization: | C$321.73 million
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