GREY:VITFF - Post by User
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EasyJobon Feb 15, 2013 6:04pm
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Post# 20998356
Victoria Gold Corp Acquires Common Shares Of Banya
Victoria Gold Corp Acquires Common Shares Of Banya Victoria Gold Corp announced that it has subscribed to a private placement offering by Banyan Gold Corp. in conjunction with Banyan's Qualifying Transaction (the "Qualifying Transaction") under TSX-V Policy 2.4. Victoria has subscribed for 2,000,000 units (the Units) at a price of $0.10 per Unit for an aggregate subscription of $200,000. Each unit is comprised of one common share of Banyan (Unit Share) and half of a common share purchase warrant (each whole warrant, a Warrant). Each Warrant is exercisable for a period of 12 months from the date of closing of the Qualifying Transaction to purchase one common share of Banyan at a price of $0.15. The 2,000,000 Unit Shares represent approximately 16.2% of the outstanding common shares of Banyan on a non-diluted basis upon closing of the Qualifying Transaction. The 1,000,000 purchased Warrants represent approximately 40% of the outstanding Warrants. The Unit Shares and common shares of Banyan underlying the Warrants purchased by Victoria represent approximately 22.5% of those outstanding, on a partially diluted basis. The acquisition of these securities by Victoria has been for investment purposes only. Victoria held no other securities of Banyan prior to the acquisition of the Units.