Victoria Gold Closes $10 Million Private Placement

Victoria Gold Corp. has announced that a $10,180,710 private placement is now completed. A syndicate led by Wellington West Capital Markets Inc. has purchased both parts of the deal, comprising 15,832,000 units and 6,791,800 subscription receipts. Both vehicles were priced at 45 cents, and both contained purchase warrants with exercise price of 55 cents. The units' warrants have a three-year life, expiring on March 13, 2012, and the subscription-receipts' warrants expire in two years. As the news release specifies, the proceeds are for Victoria's takeover of StrataGold; the escrow terms on the funds enforce this provision.

This item was released just after the market opened. At the close. Victoria reached 36.5 cents, up 0.5 cents on the day. Stratagold closed at 3.5 cents, unchanged. Current bid - ask for Victoria is 34.5 cents - 38 cents, and current bid - ask for Stratagold is 3.5 - 4.

Victoria's Google finance web page is here, and Stratagold's is here.

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