By Sheri Kasprzak
New York, May 5 - Virginia Mines Inc. is about to complete a C$5,047,393 private placement of units with Goldcorp Inc.
Goldcorp bought 1,210,406 units at C$4.17 each.
The units consist of one share and one warrant for 0.4 of a share. Each whole warrant is exercisable at C$5.84 each for 18 months.
The deal is slated to close within five days.
Quebec City-based Virginia Mines is a mineral exploration company.
| Issuer: | Virginia Mines Inc.
|
| Issue: | Units of one share and one warrant for 0.4 of a share
|
| Amount: | C$5,047,393
|
| Units: | 1,210,406
|
| Price: | C$4.17
|
| Warrants: | One warrant for 0.4 of a share per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$5.84
|
| Investor: | Goldcorp Inc.
|
| Announcement date: | May 5
|
| Stock symbol: | Toronto: VGQ
|
| Stock price: | C$4.20 at close May 5
|
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