MONTRÉAL, QC / ACCESSWIRE / July 24, 2020 / SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. (TSXV:VIO)(FRANKFURT:VL51) (the "Corporation" or "Vior") is pleased to announce the closing of a private placement totaling 13,500,000 units (the "Units") at a price of $0.10 per Unit, for total gross proceeds of $1,350,000 (the "Offering").
Each Unit consists of one (1) common share of the Corporation (a "Share") and one half (1/2) common share purchase warrant (each whole warrant being a "Warrant"). Each Warrant entitles the holder to acquire one (1) Share at a price of $0.15 per Share for a period of 24 months ending July 23, 2022.
In connection with the Offering, the Corporation paid finders' fees totalling $28,000 to arm's length third parties of Vior.
The securities issued in connection with the Offering are subject to a four (4) month hold period ending November 24, 2020. The Offering was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.
Vior will use the Offering proceeds to fund exploration works on its properties and for general corporate purposes.
The Insiders' participation for $75,200 is exempt from the formal valuation and minority shareholder approval requirements provided under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101") in accordance with sections 5.5(a) and 5.7(1)(a) of Regulation 61-101. This exemption is based on the fact that neither the fair market value of the private placement, nor the consideration paid by such Insiders exceeds 25% of the market capitalization of the Corporation.
As a result of the closing of the Offering, there are 57,759,267 Shares of Vior issued and outstanding.
About Vior
Vior is a junior mining exploration company based in Quebec whose corporate strategy is to generate, explore, and develop high quality projects in proven and favourable mining jurisdictions in North America. Through the years, Vior's management and technical team have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.
For further information, please contact:
Mark Fedosiewich
President and CEO
Tel.: 613-898-5052
mfedosiewich@vior.ca
Website: www.vior.ca
SEDAR: Société d'exploration minière Vior inc.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Société d'exploration minière Vior inc.
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https://www.accesswire.com/598729/Vior-Announces-the-Closing-of-a-1350000-Private-Placement
