Eagle mine’s first brick of gold poured on Sept. 18, 2019. (Courtesy Victoria Gold Corp)

Victoria Gold raises $23M after selling shares

Victoria Gold has raised more than $23 million after selling approximately three million shares via a public offering.

The mining company confirmed the closure of the public offering in a press release May 8.

According to the release, 3,007,250 common shares were sold at $7.65 per share for a total of $23,005,462.50.

In a previous announcement, Victoria Gold said the proceeds of the sale would “be used to continue ramp up of operations of the Eagle Gold Mine on the Dublin Gulch property and for general corporate purposes.”

Victoria Gold completed its first gold pour at the Eagle mine, near Mayo, in September 2019. The company said in an operational update May 11 that the mine had produced 17,312 ounces of gold so far this year.

Contact Jackie Hong at jackie.hong@yukon-news.com