Private Equity

Orion To Up Stake In Victoria Gold With $32M Investment

by posted 1year ago 45 views
U.S. mining private equity firm Orion Mine Finance has agreed to acquire 70.4 million common shares of Victoria Gold Corp (TSX-V: VIT), a Toronto-based gold exploration and development company. Orion bought the shares for $32 million from Electrum Strategic Opportunities Fund, a private equity fund managed by U.S. investment firm Electrum Group. Following the deal, Orion will hold an about 47 percent interest in Victoria, assuming the full exercise of warrants, up from about 39 percent. Victoria is currently constructing its Eagle Gold Mine in Yukon, which is expected to begin pouring gold this year.

In this article