Press Release
June 2012 – Rewarding Shareholders
June 1st, 2012
Dear Shareholders,
When I was appointed into office in August of last year, I promised to achieve many things for the shareholders of this corporation. Among the most important goals I had wanted to reach was to create more value and returns for shareholders through efficiency, cost savings and prudent financial management. I am proud to say that Virgin Goldhas performed extremely well financially over the past few quarters and we have achieved more than we had set out to do. Therefore the Board of Directors upon recommendations has recently approved that:
1. A 10% referral bonus shares will be introduced, in addition to the current 10% Referral Incentive. Therefore an introducer will received both a 10% Referral Incentive in their credit account as well as 10% VG-CPS Bonus shares. This Bonus share will receive monthly dividend as with normal CPS but cannot be un-subscribed. If the original CPS-GOLD has been unsubscribed, then this referral bonus share will automatically be unsubscribed as well. This promotion is only valid from the 1st of June until 30th of June 2012.
2. Group Bonus will be increased by 50% for the 1st five pairings (10,000//10,000 onwards until 50,000//50,000). The rest of the bonus structure remains the same. The 1st five pairs will be rewarded as USD1,500 per pair instead of the current USD1,000. This additional payment is valid for all CPS subscriptions from 1st June onwards (June Bonus is payable on 5th July) for a period of 6 months until 30th November 2012. At the end of the trial period, this incentive structure will NOT be reduced. The Board will decide to either make this permanent or modify the current structure to reward shareholders even more.
3. All VGCPS-GOLD dividends will be increased by 20%. New CPS-GOLD subscription effective 1st of June 2012 will receive 1.2oz of gold instead of 1 troy ounce for every 10,000CPS (or its proportional equivalent). All CPS-GOLD subscribed before 1st of June 2012 will also receive a 20% increase in dividend effective payout date as of 1st July 2012 onwards.
4. In order to create more efficiency in payment processing and to put more cash into income generating operations that will generate more returns to shareholders, we have decided to put on trial a twice a month credit withdrawal effective July 2012. From July until September 2012, credit withdrawals will only be available on the 1st and 15th of each month.
Time and time again, I want to point out to shareholders that Virgin Gold is a corporation of value and trust. This company is run to create maximum benefits for its shareholders. The affordability of this corporation to offer more benefits and dividend to shareholders is a major benchmark as far as financial achievement is concerned. I project that this will not be the last time that such an increment will take place. I am confident that Virgin Gold will be making more profit year after year. So I foresee that such an increment will take place at least once a year going forward.
On the corporate side, we have established an offshore structure network whereby Virgin Gold has registered a few subsidiaries in the British Virgin Islands (BVI), Dominica, the Bahamas, Belize and the Cayman Islands. Every offshore jurisdiction has its advantages and disadvantages. Being a corporation that continues to grow in size, our plan is to maximize a multi-jurisdiction structure to our advantage. For the meantime, we are still maintaining our administrative office in Panama.
It will be more accurate from now onward to say that, “Virgin Gold started operations in Panama and is currently based in multiple offshore jurisdictions ….. and so on and so forth”
I thank everyone, in particular our personnel, the Board of Directors and our shareholders for your endless support. I am very proud to lead a corporation that is giving more, not taking more, from its shareholders. I hope you share the same enthusiasm as I do.
Kenneth Elinger
Chief Executive Officer
Virgin Gold Mining Corporation & Subsidiaries
When I was appointed into office in August of last year, I promised to achieve many things for the shareholders of this corporation. Among the most important goals I had wanted to reach was to create more value and returns for shareholders through efficiency, cost savings and prudent financial management. I am proud to say that Virgin Goldhas performed extremely well financially over the past few quarters and we have achieved more than we had set out to do. Therefore the Board of Directors upon recommendations has recently approved that:
1. A 10% referral bonus shares will be introduced, in addition to the current 10% Referral Incentive. Therefore an introducer will received both a 10% Referral Incentive in their credit account as well as 10% VG-CPS Bonus shares. This Bonus share will receive monthly dividend as with normal CPS but cannot be un-subscribed. If the original CPS-GOLD has been unsubscribed, then this referral bonus share will automatically be unsubscribed as well. This promotion is only valid from the 1st of June until 30th of June 2012.
2. Group Bonus will be increased by 50% for the 1st five pairings (10,000//10,000 onwards until 50,000//50,000). The rest of the bonus structure remains the same. The 1st five pairs will be rewarded as USD1,500 per pair instead of the current USD1,000. This additional payment is valid for all CPS subscriptions from 1st June onwards (June Bonus is payable on 5th July) for a period of 6 months until 30th November 2012. At the end of the trial period, this incentive structure will NOT be reduced. The Board will decide to either make this permanent or modify the current structure to reward shareholders even more.
3. All VGCPS-GOLD dividends will be increased by 20%. New CPS-GOLD subscription effective 1st of June 2012 will receive 1.2oz of gold instead of 1 troy ounce for every 10,000CPS (or its proportional equivalent). All CPS-GOLD subscribed before 1st of June 2012 will also receive a 20% increase in dividend effective payout date as of 1st July 2012 onwards.
4. In order to create more efficiency in payment processing and to put more cash into income generating operations that will generate more returns to shareholders, we have decided to put on trial a twice a month credit withdrawal effective July 2012. From July until September 2012, credit withdrawals will only be available on the 1st and 15th of each month.
Time and time again, I want to point out to shareholders that Virgin Gold is a corporation of value and trust. This company is run to create maximum benefits for its shareholders. The affordability of this corporation to offer more benefits and dividend to shareholders is a major benchmark as far as financial achievement is concerned. I project that this will not be the last time that such an increment will take place. I am confident that Virgin Gold will be making more profit year after year. So I foresee that such an increment will take place at least once a year going forward.
On the corporate side, we have established an offshore structure network whereby Virgin Gold has registered a few subsidiaries in the British Virgin Islands (BVI), Dominica, the Bahamas, Belize and the Cayman Islands. Every offshore jurisdiction has its advantages and disadvantages. Being a corporation that continues to grow in size, our plan is to maximize a multi-jurisdiction structure to our advantage. For the meantime, we are still maintaining our administrative office in Panama.
It will be more accurate from now onward to say that, “Virgin Gold started operations in Panama and is currently based in multiple offshore jurisdictions ….. and so on and so forth”
I thank everyone, in particular our personnel, the Board of Directors and our shareholders for your endless support. I am very proud to lead a corporation that is giving more, not taking more, from its shareholders. I hope you share the same enthusiasm as I do.
Kenneth Elinger
Chief Executive Officer
Virgin Gold Mining Corporation & Subsidiaries
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