Thursday, February 4, 2010

Virginia Energy to Increase Equity in Coles Hill Uranium Deposit

Comment:  No to Uranium Mining!
Feb 03, 2010 09:00 ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2010) - Virginia Energy Resources Inc. (TSX VENTURE:VAE) ("Virginia" or "the Company") is pleased to announce that pursuant to an exclusivity agreement with privately held VA Uranium Holdings, Inc., ("VA Uranium") the Company has elected to increase its equity ownership of VA Uranium from 22.2% to 28.5% by the purchase of 12.8 million shares at an average price of $0.33/share by a series of 7 tranches over a period of a year, commencing January 28, 2010.

VA Uranium has 100% equity interest in the Coles Hill uranium deposit in southern Virginia.

Read more:
http://www.marketwire.com/press-release/Virginia-Energy-to-Increase-Equity-in-Coles-Hill-Uranium-Deposit-TSX-VENTURE-VAE-1111472.htm