National Bank sold shares at C$18.10 each to finance exploration work
By Devika Patel
Knoxville, Tenn., March 20 - Virginia Mines Inc. said it settled a C$6 million private placement of stock. National Bank Financial Inc. was the agent for the deal, which priced for C$5 million with a C$1 million greenshoe on March 4.
The company sold 331,800 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.
Proceeds will be used for exploration work.
Quebec City-based Virginia Mines is a gold and base metals exploration company.
| Issuer: | Virginia Mines Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$6,005,580 (including C$1,004,550 greenshoe)
|
| Shares: | 331,800
|
| Price: | C$18.10
|
| Warrants: | No
|
| Agent: | National Bank Financial Inc.
|
| Pricing date: | March 4
|
| Settlement date: | March 20
|
| Stock symbol: | Toronto: VGQ
|
| Stock price: | C$9.90 at close March 1
|
| Market capitalization: | C$319.54 million
|
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