First reaction I agree.
Upon further research I found that this was in a news release on Nov 24 where the stock was trading at
.70.( open @72 low @68, close @70 ) with volume that day of 522,686
SEE BELOW
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
TORONTO, ONTARIO, November 24, 2009 – Marketwire – Victoria Gold Corp. (TSXV:
VIT) (“Victoria” or “the Company”) is pleased to announce that it has closed
its previously announced private placement offering of special warrants of the
Company ("Special Warrants") for gross proceeds of approximately $15,000,000
(the “Offering”), which includes proceeds from the full exercise of the
underwriters’ increase option.
An underwriting syndicate (the “Underwriters”) led by Raymond James Ltd. and
including Wellington West Capital Markets Inc., Desjardins Securities Inc.,
Blackmont Capital Inc, GMP Securities L.P., Rodman & Renshaw, LLC and
Sandfire Securities Inc. sold 23,809,522 Special Warrants priced at
.63 per
special warrant for gross proceeds of approximately $15,000,000.
Each Special Warrant is exercisable to acquire one common share of the
Company (an “Underlying Share”). The Company has agreed to use its best
efforts to obtain a receipt for a final prospectus (the “Prospectus”) qualifying the
distribution in Canada of the Underlying Shares within 45 days of the date of the
closing of the Offering.
Net proceeds from the Offering will be used to advance Victoria's gold projects
in Nevada and Yukon and for working capital purposes.
2
Additional Information about the Financing
The Special Warrants were issued on a private placement basis and are subject
to a four month hold period under applicable Canadian Securities laws. Unless
earlier qualified pursuant to the Prospectus, the Underlying Shares issued on any
exercise of Special Warrants will also will be subject to the same four-month hold
period under applicable Canadian securities laws. As compensation for their
services rendered in connection with the Offering, the Underwriters received a
cash commission equal to 6% of the gross proceeds from the sale of the Special
Warrants. Final approval from the TSX Venture Exchange will now be sought by
the Company.
About Victoria
Victoria is a high growth gold company with a focus on adding value per share
through efficient exploration, project development, accretive acquisitions and
effective marketing. Maintaining a low risk profile through project diversification,
sound financial management, and operating in secure jurisdictions are key
priorities for Victoria’s management team.
On Behalf of Victoria Gold Corp.
Chad Williams, P. Eng, CEO, President & Director
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forwardlooking
statements". All statements in this discussion, other than statements of
historical facts, that address future exploration drilling, exploration activities and
events or developments that the Company expects, are forward looking
statements. Although the Company believes the expectations expressed in such
forward looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in forward-looking statements.
Factors that could cause actual results to differ materially from those in forwardlooking
statements include metal prices, exploration success, continued
3
availability of capital, and general economic, market or business conditions.
Accordingly, readers should not place undue reliance on forward-looking
statements.
Neither the TSX Venture Exchange nor its regulation services provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For Further Information Contact:
Chad Williams
President & CEO
Victoria Gold Corp.
Tel: 416-866-8800 ext 230
cwilliams@vitgoldcorp.com
The next point is that it was conducted by the companies that now report on Victoria
The Offering was underwritten by a syndicate (collectively, the “Underwriters”) led by
Raymond James Ltd. and including Wellington West Capital Markets Inc., Desjardins
Securities Inc., Blackmont Capital Inc, GMP Securities L.P., Rodman & Renshaw, LLC
and Sandfire Securities Inc.
The offer was only available to certain provinces in Canada. All I want to know is that the next time they do something like this I as a Canadian would would like to take part (even I do not use those brokerage firms ) so that I can buy at
.63 when it is trading at
.70
I still believe in Victoria ...however of late there decimination of news and material events has been shockingly slow and lacking.
Whoever has the DIRECT LINE to Chad should talk to him and find out what is going on,
PS. Did you see the article on their website? Do we as shareholders have any of that information (partially) or is it a work of fiction, and if so should they have it on their website?
Bajan John