Visible GOLD Mines Announces Private Placement
VISIBLE GOLD MINES ANNOUNCES PRIVATE
PLACEMENT
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
ROUYN-NORANDA, QC
,
March 31, 2023
/CNW/ -
Visible Gold Mines Inc.
(TSXV: VGD)
(
FRANKFURT
: 3V41) ("Visible Gold Mines" or the "Corporation") is pleased to announce that it is
arranging a small private placement of
$150,000
of units (the "Units"), at a price of
$0.12
per Unit
with two subscribers.
Martin Dallaire
, the Chief Executive Officer of the Corporation, will subscribe
for 50% of the private placement.
Each Unit will be comprised of one common share (the "Common Share") in the capital of the
Corporation and one (1) common share purchase warrant (the "Warrant") of the Corporation. Each
Warrant will entitle the holder thereof to acquire one additional Common Share at a price of
$0,17
for a period of twenty-four (24) months from the closing date (the "Closing Date") of the private
placement.
The net proceeds from the issuance of the Units will be used for general and administrative
purposes and for exploring the Corporation's mining properties located in the province of Québec.
The participation of the Chief Executive Officer of the Corporation, who is related party as defined in
Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument 61-101 –
Protection of Minority
Security Holders in Special Transactions
("MI 61-101"), in the private placement, would be
considered a related party transaction, however the Corporation expects that such transaction would
be exempt from the formal valuation requirement and shareholder approval requirement of MI 61-
101 as the fair market value of any Units issued to such persons will not exceed 25% of the
Corporation's market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities of the Corporation in
the United States
. The securities of the Corporation have not been
and will not be registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold within
the United States
or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities
laws or an exemption from such registration is available.
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 33,827,039 common shares
outstanding.
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 Visible
Gold Mines, 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,. 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 Visible Gold Mines' control. These risks, uncertainties and
assumptions include, but are not limited to, those described under "Financial Risks" and "Risk
Factors" in Visible Gold Mines' Annual Report for the fiscal year ended
July 31, 2022
, a copy of
which is available on SEDAR at
www.sedar.com
, and could cause actual events or results to differ
materially from those projected in any forward-looking statements. Visible Gold Mines does not
intend, nor does Visible Gold Mines 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.
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.
SOURCE
Visible Gold Mines Inc.
View original content:
http://www.newswire.ca/en/releases/archive/March2023/31/c6478.html
%SEDAR: 00025339E
For further information:
Martin Dallaire, President and Chief Executive Officer, Telephone:
819-
762-0107, Fax: 819-762-0097, E-mail:
[email protected], Website:
www.visiblegoldmines.com
CO: Visible Gold Mines Inc.
CNW 18:20e 31-MAR-23