hopefully a short term consolidation.
Note the last news :
a) closing of the offering is in two days... We will have news shortly after
to the Directors at a price bigger than current market price... Good imho
Both news indicate that there is clearly hope for a bigger value... Keeping the position is the way to play it for me.
Obviously gold price is the external factor we do not control... so let's check USD currency and XAU price in the next weeks/months.
(and CAD currency so OIL price as well
Toronto, Ontario (August 8, 2016) -- Victoria Gold Corp. (VIT.TSX-V) ("Victoria" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Raymond James Ltd. (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 38,500,000 common shares
of the Company (the "Shares") at a price of $0.65 per Share
, for gross proceeds of approximately $25,025,000 (the "Offering"). The Company will also grant to the Underwriters an over-allotment option (the "Over-Allotment Option") to increase the size of the Offering by up to an additional 15%
, such option being exercisable in whole or in part at any time prior to 30 days after the closing of the Offering.
The net proceeds are intended to be used for development expenditures at Victoria Gold's Eagle Gold Project, as well as for working capital and general corporate purposes.
Toronto, Ontario -- August 10, 2016- Victoria Gold Corp. (TSX-V: VIT... The Offering is scheduled to close on August 26, 2016
and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and other applicable securities regulatory authorities.
The Board of Directors of Victoria Gold Corp. has granted 600,000 options to directors of the Company, in each case under the stock option plan of the Company which was approved by shareholders on August 8, 2016. The options will vest over an 18-month period, have an exercise price of $0.70
and are exercisable for a period of five years from the date of the grant thereof.