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UPDATE: Viking Gold Completes Additional Financing; Drops 10% to Day Lows

Viking Gold Exploration Inc. (VGC.V) has now completed a non-brokered private placement offering. The Company has sold 525,000 units at a price of $0.60 per unit for gross proceeds of $315,000.

The proceeds will be used 80% to fund exploration expenditures and 20% for general corporate purposes.

The Company also sold 500,000 units at $0.10 per unit for gross proceeds of $50,000. Each unit consists of one common share plus a full warrant that entitles the holder to purchase one common share at a price of $0.15 for a period of 24 months from the date of closing. The proceeds will be used for general working capital purposes.

VGC has dropped 10% to 9 cents, hitting day lows. Volume traded is about 11,000.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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