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TORONTO, ONTARIO--(Marketwire - Feb. 15, 2013) - Victoria Gold Corp. (TSX VENTURE:VIT) ("Victoria" or the "Company") announces that it has subscribed to a private placement offering by Banyan Gold Corp. (TSX VENTURE:BYN) ("Banyan"), 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. |
