Cat Financial Supports Victoria Eagle Gold Project

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Victoria Gold finalized and executed definitive transaction agreements with Orion Mine Finance, Osisko Gold Royalties and Caterpillar Financial Services with respect to the previously announced construction financing package totaling approximately C$505 million ($400.8 million) in aggregate that will fully fund the development of the Eagle Gold project through to commercial production.

Separately, Victoria also entered into a master lease agreement with Cat Financial with respect to a $50 million equipment financing facility.

Victoria also announced that the private placement subscriptions by each of Orion and Osisko have closed, and Victoria has issued 150,000,000 common shares to Orion and 100,000,000 common shares to Osisko at a price of C$0.50 ($39.7) per share for aggregate gross proceeds of C$125 million ($99.2 million). Victoria also completed the issuance to Orion of 25,000,000 common share purchase warrants. All securities issued to Orion and Osisko under the private placement are subject to a four-month hold period expiring on August 13, 2018, pursuant to applicable securities legislation.

Additionally, pursuant to the royalty purchase agreement between Victoria, its wholly-owned subsidiary Stratagold Corporation and Osisko, Victoria has closed the first tranche of the royalty purchase for a price of C$49 million ($39 million for total gross proceeds to Victoria of C$174 million ($138 million) including the private placements.

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Terry Mulreany
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Susie Angelucci
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