Visible GOLD Mines Announces Sale of Properties to Fokus Mining Corporation FOR Consideration Value of $3 Million
VISIBLE GOLD MINES ANNOUNCES SALE OF
PROPERTIES TO FOKUS MINING
CORPORATION FOR CONSIDERATION VALUE
OF $3 MILLION
ROUYN-NORANDA, QC
,
Aug. 12, 2025
/CNW/ -
Visible Gold Mines Inc. (the "Corporation")
(TSXV: VGD) (
FRANKFURT
: 3V41) is please to announce that it has entered into an asset purchase
agreement dated
August 11, 2025
(the "Agreement") with Fokus Mining Corporation ("
Fokus
")
(TSXV: FKM) to sell its 100% interest in six properties, namely the Cadillac Break, Lucky Break,
Silidor, Stadacona,
Wasa Creek
, and
Wasa East
projects, and a 40% interest in one property, the
Capricorn project, all located along the Cadillac-Larder Lake Fault near the town of
Rouyn-Noranda
in the province of Québec,
Canada
(collectively, the "
Properties
").
Pursuant to the terms of the Agreement, in consideration for the acquisition of the Properties, Fokus
shall pay to the Corporation a total consideration of approximately
$3,000,000
, consisting of (i) the
payment of
$750,000
in cash on the closing of the Transaction (as defined below), (ii) the issuance
at closing of the Transaction of common shares of Fokus, having a value of
$1,500,000
(the
"
Consideration Shares
"), with such number of Consideration Shares to be determined based on
the volume-weighted average trading price of the common shares of Fokus on the facilities of the
TSX Venture Exchange (the "
TSXV
") for the five business days immediately preceding the closing
date, subject to the issuance of a minimum of 10,000,000 Consideration Shares and a maximum of
12,500,000 Consideration Shares; and (iii) the payment of an additional amount of
$750,000
in cash
on the date that is three months following the closing date of the Transaction (the "
Transaction
").
The closing of the Transaction is expected to occur on or before
September 30
, 2025. Both Fokus
and the Corporation were dealing at arm's length at the time the Transaction was agreed, and no
finder's fee or commission are payable in connection with the Transaction. The Transaction and the
Agreement are subject to regulatory approval, including that of the TSXV. The Corporation may be
required to obtain shareholder approval for the Transaction, as it could constitute the sale of more
than 50% of its assets under TSXV rules and policies.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking information may include,
among others, statements regarding the future plans, costs, objectives or performance of the
Corporation, or the assumptions underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate"
and similar words and the negative form thereof are used to identify forward-looking statements.
Forward-looking statements should not be read as guarantees of future performance or results, and
will not necessarily be accurate indications of whether, or the times at or by which, such future
performance will be achieved. No assurance can be given that any events anticipated by the
forward-looking information will transpire or occur, including if the Transaction will occur, or if does
when the closing date will occur, if regulatory approval will be obtained for each of the Corporation
and Fokus. Forward-looking information is based on information available at the time and/or
management's good-faith belief with respect to future events and are subject to known or unknown
risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the
Corporation's control. These risks, uncertainties and assumptions include, but are not limited to the
risks, uncertainties and assumptions described under "Financial risk management objectives and
policies" and "Risk and Uncertainties" in the Corporation's Annual Report for the fiscal year ended
July 31, 2024
, a copy of which is available on SEDAR+ at
www.sedarplus.ca
, and could cause
actual events or results to differ materially from those projected in any forward-looking statements.
The Corporation does not intend, nor does it undertake any obligation, to update or revise any
forward-looking information contained in this news release to reflect subsequent information, events
or circumstances or otherwise, except if required by applicable laws.
About Visible Gold Mines Inc.
Visible Gold Mines is a corporation focused on gold in the prolific
Abitibi Gold Belt
and the
James
Bay
region in the province of
Quebec
. Visible Gold Mines has 37,155,164 common shares
outstanding.
Neither 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 the
release.
Website:
www.visiblegoldmines.com
SOURCE
Visible Gold Mines Inc.
View original content:
http://www.newswire.ca/en/releases/archive/August2025/12/c3351.html
%SEDAR: 00025339E
For further information:
For further information, please contact: Martin Dallaire, President and
Chief Executive Officer, Telephone: 819-762-0107, Fax: 819-762-0097, Cell: 819-763-6663, E-mail:
CO: Visible Gold Mines Inc.
CNW 07:30e 12-AUG-25