Virgin Metals Inc. (CVE:VGM) announced that it has closed its private placement of 6,000,000 units for gross proceeds of $1,500,000.
The press release is quoted as saying:
The Private Placement was brokered by INTAC (BVI) International Investments Limited (“INTAC”), a private investment fund based in the British Virgin Islands. A finder’s fee of $150,000 was paid to INTAC in connection with the Private Placement and the Company has granted 600,000 finder’s fee Units to INTAC. The private placement is subject to the final approval of the TSX Venture Exchange.
The net proceeds to Virgin will be used to advance the pre-feasibility report on the Company’s Los Verdes property, as well as for working capital and general administrative purposes.