Virginia Energy Resources Announces Closing of Private Placement in Connection with Plan of Arrangement with Consolidated Uranium

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VANCOUVER, BC, Dec. 6, 2022 /CNW/ – Virginia Energy Resources Inc. (TSXV: VUI ) ("Virginia Energy") is pleased to announce that it has closed its concurrent private placement (the " Concurrent Private Placement ") in connection with the proposed acquisition of Virginia Energy by Consolidated Uranium Inc. (" Consolidated Uranium ") pursuant to a statutory plan of arrangement, which was previously announced on November 15, 2022 (the " Acquisition "). Under the terms of the Concurrent Private Placement, Virginia Energy issued, on a non-brokered private placement basis, 2,000,000 common shares in the capital of Virginia Energy (each, a " Virginia Energy Share ") to Consolidated Uranium at a price of $0.50 per Virginia Energy Share, for gross proceeds of $1,000,000. The Concurrent Private Placement remains […]

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