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Electrum Strategic Opportunities Fund L.P. to Sell Common Shares of Victoria Gold Corp.

This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

NEW YORK, July 10, 2019 (GLOBE NEWSWIRE) -- Electrum Strategic Opportunities Fund L.P. (“Electrum”) has entered into a share purchase agreement with Orion CO-VI Ltd. (the “Purchaser”), dated July 9, 2019 (the “Purchase Agreement”). Pursuant to the Purchase Agreement, Electrum will, subject to certain terms and conditions set forth in the Purchase Agreement, sell an aggregate of 70,400,000 common shares (the “Common Shares”) in the capital of Victoria Gold Corp. (the “Issuer”) to the Purchaser for an aggregate purchase price of CAD$32,032,000, or CAD $0.455 per Common Share (the “Transaction”).

Prior to the closing of the Transaction, Electrum held 70,400,000 Common Shares representing approximately 8.5% of the issued and outstanding Common Shares. Following the closing of the Transaction, Electrum will not own any securities of the Issuer. The Common Shares referred to above were held for investment purposes.

Victoria Gold Corp. is located at 80 Richmond St. West, Suite 303, Toronto, Ontario M5H 2A4, Canada.  Electrum is located at 535 Madison Avenue, 12th Floor, New York, NY 10022, USA. A copy of the early warning report to which this news release relates can be obtained from Michael Williams (646-365-1600) or on the SEDAR profile of the Issuer at www.sedar.com.