Viking Gold

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Viking Gold Announces Debenture Financing

Date : May 27, 2014
Toronto, ON, May 27, 2014 – Viking Gold Exploration Inc. (TSX-V: VGC), the “Company” or “Viking Gold”, announces a debenture financing to raise funds for general working capital purposes and to support existing exploration property commitments.
On April 15, 2014, the Company commenced a private placement for a maximum of $150,000 of 10% unsecured convertible debentures (the “Debentures”). The Debentures bear interest at the rate of 10% per annum which interest will accrue and be paid on the June 30, 2015 maturity date. The Debentures will be issued with principal in denominations of $1,000 and multiples thereof.
The Debentures (plus any unpaid and accrued interest) are convertible, at the option of the holder, into units (each a “Unit”) at a conversion price (the “Conversion Price”) of $0.01 per Unit over the term of the Debenture, subject to the TSX-V minimum pricing requirement of $0.05 for the first 12 months and $0.10 thereafter until maturity. In the event of a share consolidation by the Company, the Conversion Price will be adjusted proportionately, though it will still be subject to the same $0.05 and $0.10 TSX-V minimum pricing requirements on a post-consolidation basis.
Each Unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the Company at the Conversion Price for a period of 36 months from the date of issuance of the warrant. The TSX-V conditionally approved this transaction on April 16, 2014. The TSX-V’s final approval is subject to the Company meeting its documentation filing requirements on or before June 23, 2014 (extended from May 19, 2014). The TSX-V, in its discretion, may refuse to provide final acceptance in regard to the subscription of one or more subscribers.
The Company has completed the initial financing, closing a total of $47,500 of the Debentures including $10,000 with a related party, and the Company is now extending the offering. The Company presently has a total of 79,778,229 outstanding common shares, 4,845,280 outstanding common share purchase warrants and 6,650,000 outstanding common share purchase options.
About Viking Gold
Viking Gold Exploration Inc. is a gold-focused, Canadian mineral exploration company. It is a reporting issuer in the Provinces of Ontario, Newfoundland and Labrador, British Columbia and Alberta.
For further information, please contact Mark Edwards, CEO at (905) 752-2008 or visit the Company’s website at:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.




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