TORONTO, Nov. 3, 2021 /CNW/ - Orion Mine Finance today
confirmed certain details of its shareholdings in Victoria Gold
Corp. (TSX: VGCX) ("Victoria"), following the disposition by
Orion Co-VI Ltd., a corporation controlled by Orion Mine Finance
Management II Limited (collectively, "Orion"), of a total of
2,522,610 common shares of Victoria ("Common Shares") in two
private transactions for aggregate consideration of C$45,717,019.33.
Immediately prior to the transactions, Orion held 11,452,610
Common Shares and 1,666,667 common share purchase warrants (the
"Warrants") of Victoria.
Prior to the transactions, on a partially diluted basis and giving
effect to the blocker feature of the Warrants, Orion had a
securityholding percentage of 19.99% (based on 62,594,541 common
shares outstanding). Following the closing of the transactions,
Orion holds 8,930,000 Common Shares and 1,666,667 Warrants. On a
partially diluted basis, Orion now has a securityholding percentage
of approximately 16.49%, a decrease in its securityholding
percentage of approximately 3.50%.
Orion's disposition of the Common Shares in the transactions was
made in the ordinary course of its business operations. Orion
continues to evaluate its holdings in Victoria, including potentially disposing of
additional securities in the ordinary course of business, but has
no current plan or intentions which relate to any of the other
actions requiring disclosure under the early warning reporting
provisions of applicable securities laws. Depending on market
conditions, Orion's view of Victoria's prospects and other factors Orion
considers relevant, Orion may acquire securities of Victoria from time to time in the future, in
the open market or pursuant to privately negotiated transactions,
or may sell all or a portion of its securities of Victoria.
This news release is being issued under the early warning
reporting provisions of applicable securities laws. An early
warning report with additional information in respect of the
foregoing matters will be filed and made available under the SEDAR
profile of Victoria at
www.sedar.com. To obtain a copy of the early warning report, you
may also contact Rick Gashler, Chief
Compliance Officer of Orion Resource Partners (USA) LP at (212) 596-3497. Orion's address is
Cumberland House, 7th Floor, 1
Victoria Street, Hamilton HM11,
Bermuda.
Forward-Looking Information
Certain statements in the press release are forward-looking
statements and are prospective in nature, including statements with
respect to Orion's future intentions regarding the securities of
Victoria. Forward-looking
statements are not based on historical facts, but rather on current
expectations and projections about future events, and are therefore
subject to risks and uncertainties which could cause actual results
to differ materially from the future results expressed or implied
by the forward-looking statements. Such statements are qualified in
their entirety by the inherent risks and uncertainties surrounding
future expectations. Such forward-looking statements should
therefore be construed in light of such factors, and Orion is not
under any obligation, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
SOURCE Orion Mine Finance Management II Limited