Visible Gold Mines Acquires the Remaining 40% Interest in the Cadillac East Project
Visible Gold Mines Acquires the Remaining
40% Interest in the Cadillac East Project
ROUYN-NORANDA, QC
,
Jan. 31, 2019
/CNW Telbec/ -
Visible Gold Mines Inc.
(TSXV: VGD)
(
Frankfurt
: 3V41)
is pleased to announce that it has entered into an Asset Purchase Agreement
today with Cadillac West Explorations Inc., wholly-owned subsidiary of Liberty Gold Corp (TSX:
LGD) pursuant to which it will acquire a 40% undivided ownership interest in 148 mining claims
comprising the Cadillac East Project located near
Rouyn-Noranda
in the Province of Québec (the
"Property"). Visible Gold Mines already owns a 60% interest in the Property.
In order for Visible Gold Mines to acquire the remaining 40% interest in the Property, Visible Gold
Mines will be required to issue 750,000 common shares to Cadillac West Explorations Inc. The
shares will be issued a deemed price of
$0.06
per share.
The mining claims comprising the Property are subject to a 1.5% net smelter return royalty in favour
of the former owners of the Property. The Asset Purchase Agreement is subject to regulatory
approval, including that of the TSX Venture Exchange.
About Visible Gold Mines
Visible Gold Mines is a vibrant company actively exploring for the next major gold deposit in
northwestern Québec, considered one of the world's best jurisdictions for mining and exploration.
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
the release.
SOURCE
Visible Gold Mines Inc.
View original content:
http://www.newswire.ca/en/releases/archive/January2019/31/c1222.html
%SEDAR: 00025339E
For further information:
Martin Dallaire, President and Chief Executive Officer, Telephone: 819-
762-0609, Fax: 819-762-0097, E-mail: [email protected]; Website:
www.visiblegoldmines.com
CO: Visible Gold Mines Inc.
CNW 08:30e 31-JAN-19