Victoria Gold to raise $24 mln private placement for Yukon project
Canadian mining company Victoria Gold Corp (TSX-V: VIT) has launched a $24 million private placement transaction. Electrum Strategic Opportunities Fund, a private equity fund managed by U.S. investment firm Electrum Group, will account for most of the money, giving it an approximate 13.6 percent interest in Victoria. Sun Valley Gold LLC, a U.S. hedge fund, will account for the rest, increasing its current stake to about 18 percent. With the deal's close, Electrum will have the right to nominate a board director. Toronto-based Victoria said the funds raised will be used to continue exploration and development of the company's Eagle Gold Project in Yukon.
21 April 2016•6 mins read
