Viking Gold Exploration Inc. (TSXV:VGC) announced a non-brokered private placement of 525,000 flow-through units at CAD 0.60 per unit for CAD 315,000 and 500,000 non flow-through units at CAD 0.10 per unit for CAD 50,000 for gross proceeds of CAD 365,000 on January 3, 2013. The transaction included participation from 31 placees including Louis Côté who invested for 100,000 units in the transaction. Each flow-through unit consists of four flow-through common shares, one non flow-through common share and two and one-half of one common share purchase warrant. Each full warrant entitles the holder to purchase an additional non flow-through common share at CAD 0.17 per share for a period of 24 months from the date of closing. Each non flow-through unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one common share at CAD 0.15 for a period of 24 months from the date of closing. The company paid finders' fees of 7% amounting to CAD 22,050 and issued 183,750 finders warrants for the flow-through issuance to Canaccord Genuity Corp., CIBC Wood Gundy, and Sherbrooke Street Capital. Each finder's warrant entitles the holder to acquire one non flow-through common share at CAD 0.17 per share for a period of 24 months from the date of closing. The securities issued are subject to a four month hold period from closing.

On January 3, 2013, Viking Gold Exploration Inc. closed the transaction.