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Virginia Energy Resources Inc.

Published : March 01st, 2007

Increases Proposed Private Placement Financing

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  Wednesday, February 28, 2007
Santoy Increases Proposed Private Placement Financing

  NR: 07-07

Santoy Resources Ltd. (TSX Venture Exchange -- SAN) announces that its proposed non-brokered private placement of 2 million Units (news release Feb. 26, 2007) will be increased to 3 million Units at a price of $1.40 CAD per Unit for a total of $4.2 million. Each unit will be comprised of one common share and one-half of one common share purchase warrant. Each full warrant will be exercisable into one common share of the Company at an exercise price of $2.15 for a period of 18 months from the closing date. The warrants will be subject to an accelerated expiry, wherein the expiry period of the warrants may be reduced, upon notice to holders and at the election of the Company, if the closing price of the shares is equal to or greater than $2.50 per share for 10 consecutive trading days. If this condition is met and the Company so elects, the exercise period will be reduced to 25 business days from the date notice is provided by the Company to the warrant holders.

This financing is subject to regulatory approval and finders' fees may be paid to accredited agents on that portion of the funds raised by third parties. The shares issued under this financing will be subject to a hold period of four months plus one day from the closing date of the offering. The funds will be applied to advance uranium exploration on the recently announced Otish Mountains acquisitions (see news releases dated Jan. 9, 2007, Jan. 29, 2007 and Feb. 19, 2007) and for general working capital.

About Santoy
Santoy Resources Ltd. is a Canadian mining exploration company focused primarily on the energy sector. Emphasis is being placed on uranium projects in British Columbia, Saskatchewan, Manitoba, Quebec, Ontario and Central Mineral Belt of Labrador, the United States and Central America; and on coal and coal bed methane in Western Canada. A description of our properties, including maps and photographs, can be viewed on the Company's website at www.santoy.ca.

On Behalf of the Board of Directors
SANTOY RESOURCES LTD.

"Ron Netolitzky"

Ron Netolitzky, President

Cautionary Statement on Forward-Looking Information The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

 

Virginia Energy Resources Inc.

DEVELOPMENT STAGE
CODE : VAE.V
ISIN : CA9278051011
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Virginia Energy is a gold and cobalt exploration company based in Canada.

Virginia Energy develops gold, cobalt and uranium in USA, and holds various exploration projects in Canada.

Its main asset in development is COLES HILL PROPERTY in USA and its main exploration properties are ALIMAK/DECADE, RKN/GOLDEN HEART AREA, KASMERE LAKE, HAZEMPA LAKE, FIR ISLAND, PATTYSON LAKE, DOWLER LAKE, KARPINKA LAKE, THE BOW RIVER, ATHABASCA WESCAN SANTOY JV, OTISH, HAWK RIDGE, BLIZZARD, HATCHET LAKE, MUSTANG LAKE and BINGO in Canada.

Virginia Energy is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 8.0 millions as of today (US$ 7.2 millions, € 5.2 millions).

Its stock quote reached its highest recent level on February 23, 2007 at CA$ 8.00, and its lowest recent point on April 17, 2009 at CA$ 0.07.

Virginia Energy has 57 230 614 shares outstanding.

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Annual reports of Virginia Energy Resources Inc.
2008 Annual report
2007 Annual Report
Financings of Virginia Energy Resources Inc.
1/28/2013Completes Expanded Financing
1/25/2013Expands Financing
7/18/2009Closes First Tranche of Private Placement Financing
7/17/2009Amends Private Placement Financing Terms
12/18/2007 Oversubscribes Private Placement Financing
11/30/2007 Proposes $5 Million Private Placement
10/16/2007Acquires 1,000,000 Shares of Boss Power Corp. and Closes $1,...
8/27/2007Adjusts Previously Announced $1.0 Million Private Placement
8/11/2007 Announces $1.0 Million Private Placement
3/1/2007Increases Proposed Private Placement Financing
Option Grants of Virginia Energy Resources Inc.
2/16/2011Grants Incentive Stock Options
Nominations of Virginia Energy Resources Inc.
6/14/2013Announces Appointment of Investor Relations Consultant
Project news of Virginia Energy Resources Inc.
8/16/2013Announces Clarification of Technical Disclosure and Revision...
5/28/2012(Fir Island)Identifies Resistivity Lows along Black Lake Fault at Fir Is...
4/16/2012Named in Lawsuit by Sparton Resources
3/14/2011(Otish)Commences Two Drilling Programs
5/26/2009(Bingo)Announces Updated Resource Estimate on Saskatchewan Gold Pro...
3/26/2008(Burbidge)Commences Drilling at Burbidge Lake Uranium Project, SK
2/26/2008(Anomaly 7)Announces Results of Phase 2 Drilling on the Anomaly 7 Prope...
11/1/2007(Anomaly 7)Santoy Reports New Uranium Discoveries from Prospecting in t...
9/25/2007(Mustang Lake)and Mega Commence Drilling at Mustang Lake, CMB, Labrador
6/5/2007(Otish)Santoy-Melkior Announce Resumption of Drilling and Explorati...
Corporate news of Virginia Energy Resources Inc.
12/20/2013Provides Update
3/28/2013Comments on Quebec Uranium Study
2/15/2013Provides Legislative Update
9/27/2012and Anthem Resources Complete Plan of Arrangement
9/24/2012Provides Update on Plan of Arrangement
7/12/2012Signs Arrangement Agreement for Spin Out and Merger Transact...
6/11/2012Signs Letter Agreement for Spin Out and Merger Transaction
5/10/2012(Hawk Ridge)Commences Airborne VTEM Survey at Hawk Ridge
4/10/2012(Hawk Ridge)Signs Definitive Agreement to Option Hawk Ridge
2/7/2012(Hawk Ridge)to Monetize the Hawk Ridge Assets
6/16/2011s Drill Program in Labrador
5/30/2011(Otish)to Proceed with Drill Program for Otish Basin, QC
5/3/2011Metallurgical Studies Initiated on Coles Hill
1/12/2010and Mega Uranium announce prospecting results from Bruce Riv...
9/16/2009Virginia Completes Uranium Program and Acquires More Land
7/21/2009and Virginia Uranium Complete Business Combination
11/26/2008Provides Saskatchewan Gold Exploration Update
8/6/2008Expands Scope of Exploration Efforts in Saskatchewan
6/12/2008Completes Drill Program on Central Mineral Belt Uranium Proj...
4/29/2008Responds to BC Government Halt on Uranium Exploration and De...
2/25/2008 and Mega Provide Results from Drilling at Mustang Lake and ...
11/14/2007Commences Drilling at Fish Hawk Lake in the CMB, Labrador
10/4/2007 Denison Joint Venture Provides Progress Report, Athabasca B...
7/30/2007reports Exploration/Drill Plans on Uranium Claims in CMB, La...
7/18/2007Reports Exploration/Drill Plans on Uranium Joint Venture, At...
6/15/2007Announces Closing of Blizzard Transaction
6/5/2007Reports Drill Results From Fish Hawk Lake, CMB, Labrador
5/29/2007/Melkior Announce Temporary Suspension of Drilling at Otish ...
5/24/2007Santoy-Melkior Commence Drilling at Marc-André Uranium Occur...
5/14/2007Reports Drilling completed at Fish Hawk Lake, CMB, Labrador
3/14/2007Santoy-Wescan Joint Venture Reports Uranium Exploration Resu...
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TSX-V (VAE.V)Other OTC (VAERF)
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