Victoria Gold Corporation

Published : March 30th, 2009

and StrataGold Sign Definitive Agreement to Complete Business Combination

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Gold |

Victoria Gold and StrataGold Sign Definitive Agreement to Complete
Business Combination

Toronto, Ontario, March 30, 2009 � Victoria Gold Corp. (TSXV: VIT) (�Victoria�) and StrataGold Corporation (TSX: SGV) (�StrataGold�) are pleased to confirm that, further to their press releases dated February 11, 2009 and March 18, 2009, they have entered into an arrangement agreement (the �Arrangement Agreement�) to complete the previously announced friendly transaction pursuant to which Victoria will acquire all of the outstanding common shares of StrataGold (the �Transaction�).

About the Transaction

Pursuant to the terms of the Transaction, all of the outstanding common shares of StrataGold shall be exchanged for common shares of Victoria on the basis of 0.1249 of a Victoria common share for each common share of StrataGold held.

The directors of each of Victoria and StrataGold have approved the Transaction. Completion of the Transaction is subject to a number of conditions including:

1. the StrataGold shareholders having approved the transaction by a 66 2/3% majority;
2. receipt of all necessary regulatory approvals;
3. the absence of a material adverse change with respect to each party; and
4. certain other customary conditions.
 
Additional terms of the Transaction are more particularly set out in the press releases of Victoria and StrataGold each dated February 11, 2009.

A special meeting of StrataGold shareholders is contemplated for mid-May 2009. The parties will make best efforts to complete the Transaction by the end of May 2009 and in any event by no later than the end of June 2009.

Paradigm Capital Inc., StrataGold�s independent financial advisor, has provided to StrataGold an opinion that, subject to certain assumptions and limitations set out therein, the proposed Transaction is fair, from a financial point of view, to StrataGold�s shareholders. Victoria�s legal counsel is Fraser Milner Casgrain LLP.  Davis LLP is acting as legal counsel to StrataGold.

Upon completion of the Transaction, the current President and CEO of Victoria, Mr. Chad Williams, will remain the President & CEO of the combined company which will retain the name �Victoria Gold Corp.� Once the Transaction is complete current Victoria shareholders will own approximately 87% of the combined company and former StrataGold shareholders will own approximately 13%.

On Behalf of Victoria Gold Corp.

Chad Williams, P. Eng, CEO, President & Director

Cautionary Language and Forward-Looking Statements - This press release contains �forward-looking statements� and �forward-looking information�, which may include, but is not limited to, statements with respect to the future financial or operating performances of Victoria Gold Corp., its subsidiaries and their respective projects, the future price of gold, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, capital, operating and exploration expenditures, costs and timing of future exploration, requirements for additional capital, government regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, and limitations of insurance coverage. Often, but not always, forward-looking information can be identified by the use of words such as �plans�, �expects�, �is expected�, �is expecting�, �budget�, �scheduled�, �est imates�, �forecasts�, �intends�, �anticipates�, or �believes�, or variations (including negative variations) of such words and phrases, or state that certain actions, events or results �may�, �could�, �would�, �might�, or �will� be taken, occur or be achieved. The purpose of forward-looking information is to provide the reader with information about management�s expectations and plans for the Company. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Victoria and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Although Victoria has attempted to identify statements containing important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be othe r factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this document based on the opinions and estimates of management on the date statements containing such forward looking information are made. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or an exemption from registration.

For Further Information Contact:

Victoria Gold Corp:
Chad Williams
     
President & CEO     
Tel: 416-866-8800 ext 230    
cwilliams@vitgoldcorp.com    

Linda Dorrington
Director Public & Investor Relations
Tel: 416-866-8800 ext 226
ldorrington@vitgoldcorp.com

www.vitgoldcorp.com

Renmark Financial Communications Inc.
Barry Mire: bmire@renmarkfinancial.com
Christine Stewart : cstewart@renmarkfinancial.com
Media: Vanessa Napoli: vnapoli@renmarkfinancial.com
Montreal - Tel: 514 939-3989 / Fax: 514 939-3717
Toronto � Tel: 416 644-2020 / Fax: 416 644-2021
www.renmarkfinancial.com


The TSX and TSX Venture Exchange do not accept responsibility for the adequacy or the accuracy of this release.

<

Victoria Gold Corporation

DEVELOPMENT STAGE
CODE : VGCX.TO
ISIN : CA92625W1014
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Victoria Gold Corp. is a gold exploration company based in Canada.

Victoria Gold Corp. holds various exploration projects in Canada and in Guyana.

Its main asset in development is DUBLIN GULCH EAGLE GOLD MINE in Canada and its main exploration properties are TASSAWINI GOLD, COVE, TASSAWINI, WHITE CREEK, MILL CANYON and KAITUMA in Guyana and EUREKA, SANTA FE, MAR-TUNGSTEN and DUBLIN GULCH MAR TUNGSTEN in Canada.

Victoria Gold Corp. is listed in Canada. Its market capitalisation is CA$ 242.4 millions as of today (US$ 178.4 millions, € 161.5 millions).

Its stock quote reached its highest recent level on May 24, 2024 at CA$ 8.55, and its lowest recent point on August 13, 2024 at CA$ 0.44.

Victoria Gold Corp. has 505 060 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Corporate Presentations of Victoria Gold Corporation
3/6/2015Provides Updated Corporate Presentation
In the News and Medias of Victoria Gold Corporation
5/20/2010Sign MOU on the Eagle Gold Project
Financings of Victoria Gold Corporation
8/8/2016Victoria Gold Announces $25,025,000 Bought Deal Financing
8/7/2009 Commences Drilling at Santa Fe, Nevada and Closes Flow-Thro...
Option Grants of Victoria Gold Corporation
12/18/2009Announces Grant of Stock Options
Nominations of Victoria Gold Corporation
2/4/2011Announces Appointment of John McConnell as President and CEO
1/8/2009Appoints John McConnell as Executive Vice President
Project news of Victoria Gold Corporation
4/5/2017Begins $6.2M, Phase 1 Exploration Program, Yukon
2/6/2013Closes the Sale of the Big Springs Property in Nevada
9/11/2012Continues to Define Higher Grades at Eagle Gold Deposit
5/25/2012(Mill Canyon)Enters Into Agreement to Sell its Mill Canyon Property in Ne...
9/19/2011(Mill Canyon)To Drill the Mill Canyon Project in Nevada
5/23/2011(Dublin Gulch Eagle Gold Mine)Reports Positive Drill Results from the Eagle Gold Deposit
5/12/2011(Cove)Announces Updated Cove Resource Estimate
2/28/2011(Dublin Gulch Mar Tungsten)Victoria Gold Announces 2011 Dublin Gulch Exploration Progra...
2/28/2011(Dublin Gulch Eagle Gold Mine)Announces 2011 Dublin Gulch Exploration Program
2/7/2011(Dublin Gulch Eagle Gold Mine)Announces Further Progress on the Path toDevelopment of the ...
1/25/2011(Dublin Gulch Eagle Gold Mine)Announces Eagle Feasibility Study Underway
12/10/2009Eagle Gold Project Drilling Results Including 161.8 m Gradin...
6/23/2009(Cove)Announces Additional High-Grade Gold Assays From the Helen Z...
3/2/2009(Cove)Advancing the Helen Zone: Growth Plans Defined
Corporate news of Victoria Gold Corporation
7/6/2016Victoria Receives Surface Trench Results from Olive includin...
7/5/2016Victoria Gold Purchases Construction Camp and Reduces Upfron...
6/28/2016Victoria Receives Olive Results including: 168m at 0.92 g/t ...
6/17/2016Victoria Gold Closes $2.85 Million Flow-Through Financing at...
6/16/2016Victoria Gold Strengthens its Technical Team with the Appoin...
6/15/2016Victoria Receives Olive Results including: 35m at 1.8 g/t an...
6/3/2016Victoria Confirms High Grade Results at Olive including: 46m...
5/24/2016Victoria Confirms High Grade Mineralization between the Oliv...
5/16/2016Victoria's Shamrock Zone Achieves 88% Metallurgical Recovery
12/24/2015Victoria Gold Completes $3.6M Flow-Through Financing to Dril...
12/22/2015Victoria Gold Receives Final Major Permit for Eagle Gold Pro...
12/22/2015Victoria Gold Completes Flow-Through Private Placement Finan...
12/16/2015Victoria Announces Grant of Stock Options
8/7/2015Victoria's High Grade Olive Zone is Heap Leachable
2/26/2015Yukon Ranks 1st in Mineral Potential and 9th Overall in the ...
2/24/2015(Cove)Olive Zone Demonstrates Attractive Metallurgical Recovery an...
2/24/2015Victoria's Olive Zone Demonstrates Attractive Metallurgical ...
1/14/2015Announces Grant of Stock Options
11/4/2014Victoria Completes Successful Exploration Program at High-Gr...
8/13/2014Victoria Announces Olive Grows as Step-Out Holes Continue to...
7/28/2014Victoria Continues to Receive High Grade Results at Olive; $...
6/24/2014Victoria's Olive Zone Yields High Grade Gold Intercepts Over...
6/18/2014Victoria Receives $10 Million Third Payment from Sale of Cov...
5/20/2014Victoria Initiates Drilling to Test High Grade Target Adjace...
5/20/2014Victoria Initiates Drilling to Test High Grade Target Adjace...
4/19/2014Victoria Gold Announces Changes to its Board of Directors
5/7/2013Provides Status Report on Eagle Gold Project
2/22/2013Announces Upcoming Marketing Events
2/15/2013Acquires Common Shares of Banyan Gold Corp.
1/28/2013Extends Gold Mineralization at Olive, Adjacent to Victoria's...
1/12/2013Announces Grant of Stock Options
1/12/2013Announces Grant of Stock Options
10/29/2012Expands Higher Grade Gold Target at Olive, Adjacent to Victo...
6/26/2012Working Capital Update
6/7/2011The First Nation of Nacho Nyak Dun and Victoria Extend Explo...
3/17/2011Selected for Global X S&P/TSX Venture 30 Canada ETF
4/27/2010Completes Guyanese Gold Asset Transaction
1/12/2010Hits Another Wide Gold Intercept at Santa Fe: 284 m Grading ...
12/15/2009 Provides Update on Nevada Gold Projects
11/13/2009Announces Guyanese Gold Asset Monetization
11/2/2009 Announces the Sale of the Clear Creek Exploration Property ...
10/29/2009 Announces That Drilling at Summit Gold Project is Underway
7/20/2009Exceptional Gold Exploration Results in Guyana
7/16/2009Notice of AGM on July 22, 2009
6/5/2009Closing of Business Combination With StrataGold Corporation
5/27/2009Acquisition by Victoria Gold Corp. Approved by Shareholders ...
2/13/2009StrataGold Corporation and Victoria Gold Corp. Webcast
2/11/2009 and StrataGold Corporation Announce Business Combination
1/26/2009 Board Approves $2.5 million Budget to Advance Nevada Gold P...
12/17/2008Announces Closing of Business Combination with Gateway Gold ...
5/30/2007Further Drill Results at Cove-McCoy Project, Nevada
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (VGCX.TO)TSX-V (VIT.V)
0.4800.00%8.30-1.54%
TORONTO
Prev close Open
Low High
Year l/h YTD var.
0.460 -  8.48 -100.00%
52 week l/h 52 week var.
0.460 -  8.48 -
Volume 1 month var.
-100.00%
Produces
Develops Gold
Explores for Gold - Silver - Tungsten
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2020-2.35%9.667.48
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.08+0.50%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 9.19+3.14%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.60+1.18%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.07+0.49%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 13.35+5.37%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
 0.34+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19+2.70%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.89+6.78%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 41.29+2.27%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.