Post by
20/20/12 on Feb 23, 2012 3:08pm
Closing of private placement of $5,000,000.
FORM 51-102F3
MATERIAL CHANGE REPORT
1. Reporting Issuer
Virginia Mines Inc. (“Virginia”)
116, rue Saint-Pierre
Bureau 200
Québec (Québec) G1K 4A7
2. Date of Material Change
February 23, 2012
3. Press Release
The press release was issued and distributed by Marketwire on February 23, 2012.
4. Summary of Material Change
Closing of private placement of $5,000,000.
5. Full Description of Material Change
Virginia Mines Inc. (“Virginia”) announces that it has completed the private placement
announced on February 2, 2012, which consisted of the issue by Virginia of 326,797
flow-through common shares (the "Flow-Through Shares") at a price of $15.30 per Flow-
Through Share, which price represents a 60% premium to the volume weighted average
trading price of the common shares of Virginia for the 10 day period ended February 22,
2012. The Offering resulted in gross proceeds of CA$5,000,000 to Virginia.
National Bank Financial Inc. acted as lead agent and received a commission equal to
6% of the gross proceeds of the Offering. The Flow-Through Shares are subject to a four
month hold period.
Proceeds from the Offering will be used to fund exploration work on Virginia’s numerous
projects.
6. Confidentiality of Material Change Report
Not applicable.
7. Omitted Information
Not applicable.
8. Senior Officer
André Gaumond, President
Tel: 418-694-9832
9. Date of Report
February 23, 2012