The Board of Directors has agreed to the proposal from our Executive Board that the price increment for Virgin Gold Convertible Preferred Shares (VG-CPS) be temporarily suspended for the month of January 2012. Therefore, the VG-CPS price will continue to be offered at USD1.30 per share from the 1st until the 31st of January 2012.
The New VG-CPS Offer Price will be: February 1st 2012 – USD1.35 March 1st 2012 – USD1.40 April 1st 2012 – USD1.45 May 1st 2012 – USD1.50
The Executive Board came to this decision following numerous requests from our shareholders in the last week of December 2011. The Board of Directors unanimously approveds our request in an emergency meeting held on the 31st of December 2011. I hereby thank all shareholders for your support and the Board of Directors for their understanding.
Kenneth Elinger CEO and President Virgin Gold Mining Corporation