Virginia Mines sells claims in Quebec to Commerce CP
00:00 EDT Tuesday, May 29, 2007
Virginia Mines Inc. has signed a deal to sell eight mining claims in the Labrador Trough of northern Quebec for 710,000 common shares and 290,000 warrants negotiable for a two-year period at a price of $1.12 per share. The buyer of the Tantale and Erlandson properties is Commerce Resources Corp., Virginia said yesterday. Virginia also announced it has entered into an agreement with Matamec Exploration Inc. to sell 204 claims in the Ungava Peninsula for $47,532 and the 200,000 common shares of a subsidiary that will be set up by Matamec. VGQ (TSX) fell 33 cents to $5.40.
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