March 27, 2014 16:05 ET
TORONTO, ONTARIO--(Marketwired - March 27, 2014) -
NOT FOR DISSEMINATION IN THE UNITED STATES
Virgin Metals Inc. (the "Company") (TSX VENTURE:VGM) announces that further to its press release of March 6, 2014, the Company has closed its non-brokered private placement of 7,500,000 common shares (the "Common Shares") at a price of $0.05 per Common Share for aggregate gross proceeds of up to $375,000 (the "Private Placement").
The first tranche of the placement of 7,500,000 Common Shares for gross proceeds of $375,000 will constitute the complete Private Placement; the Company will not proceed with an additional tranche.
About Virgin Metals
Virgin Metals is a junior exploration and development company; its projects include the Los Verdes copper-molybdenum porphyry project in Sonora, northern Mexico which is currently the subject of a pre-feasibility study.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Virgin Metals Inc.Chris Frostad(416) 306-0990www.virginmetals.com
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