Business
Veris Gold Corp. closes previously announced private placement
/ NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICE...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.\n NEWSWIRE SERVICES./\n\n\nVANCOUVER, Sept. 18, 2013 /CNW/ - Veris Gold Corp. (\"Veris\" or the \"Company\") (TSX: VG) (OTCQB: YNGFF)\n (Frankfurt Xetra Exchange: NG6A) is pleased to report the closing of its previously announced private\n placement (the \"Offering\") of 15,000,000 units (the \"Units\") at a price of Cdn$0.52 per Unit for aggregate gross proceeds of\n Cdn$7,800,000.\n\n\nEach Unit is comprised of one common share of the Company (each, a \"Common Share\") and one-half of one Common Share purchase warrant (each whole\n warrant, a \"Warrant\"). Each Warrant has an exercise price of $0.60 and entitles the holder\n thereof to acquire one Common Share for a period of 36 months following\n the closing of the offering. The terms of the Warrants include\n customary adjustment provisions upon certain dilutive issuances. All\n securities issued pursuant to the Offering are subject to a hold period\n expiring January 19, 2014.\n\n\nSprott Asset Management LP, on behalf of its funds and managed accounts,\n and an associate have acquired an aggregate of 15,000,000 Units in the\n Offering and acquired an aggregate of 4,731,000 units (consisting of\n one Common Share and one-half of a Common Share purchase warrant) in a\n previous financing announced on August 16, 2013 (http://bit.ly/VerisNews_2013_08_16) thus increasing their aggregate ownership from 13,384,103 Common\n Shares (assuming full exercise of any convertible securities), as of\n the date immediately prior to the closing of the previous financing to\n 42,980,603 Common Shares (assuming full exercise of any convertible\n securities) representing approximately 28.8% of the issued and\n outstanding Common Shares of the Company following the closing of this\n Offering. The aggregate number of Common Shares issued and issuable to\n Sprott Asset Management LP and its associates under the August 16\n financing and the Offering is 29,596,500, which represents 27.5% of the\n total issued and outstanding Common Shares prior to the closing of the\n August 16 financing.\n\n\nThe Offering was conducted pursuant to an agency agreement dated\n September 18, 2013 (the \"Agency Agreement\") between the Company and Secutor Capital Management Corporation (the \"Agent\"). In connection with the Offering, the A...