Visible GOLD Mines Completes Sale Transaction of Properties to Fokus Mining Corporation
VISIBLE GOLD MINES COMPLETES SALE
TRANSACTION OF PROPERTIES TO FOKUS
MINING CORPORATION
ROUYN-NORANDA, QC
,
Sept. 4, 2025
/CNW/ -
Visible Gold Mines Inc. (the "Corporation")
(TSXV: VGD) (
FRANKFURT
: 3V41) is pleased to announce that it has successfully closed its
transaction previously-announced on
august 12, 2025
with Fokus Mining Corporation ("
Fokus
") for
the sale of the Company's 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 an asset purchase agreement dated
August 11, 2025
with Fokus (the
"
Agreement
"), the Corporation received in consideration for the sale of the Properties to Fokus: (i) a
cash payment of
$750,000
on the closing date; and (ii) 10,000,000 common shares of Fokus, valued
at
$1.5 million
. In addition, the Corporation will be paid an additional amount of
$750,000
in cash by
Fokus (the "
Additional Payment
") by no later than December 3, 2025, which is three months
following the closing date (the "
Transaction
").
"This is an important transaction for Visible Gold Mines. In addition to restoring the Corporation's
financial position without any dilution for Visible Gold Mines' shareholders, we will have the financial
capacity to promote and develop our gold assets in the
Chapais
and
James Bay
areas in a market
that is increasingly receptive to investors. We also believe that the Fokus team will be able to take
our projects in the
Rouyn-Noranda
area to the next level, and that we will benefit from this as a
shareholder of Fokus." said
Martin Dallaire
, the Chief Executive Officer of Visible Gold Mines.
As the Transaction constituted the sale of more than 50% of assets of the Corporation under the
rules and policies of the TSX Venture Exchange, the Corporation obtained shareholder approval for
the Transaction by way of written consent.
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 and when the Corporation will receive
the Additional Payment. 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.
Website:
www.visiblegoldmines.com
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/September2025/04/c8803.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 08:00e 04-SEP-25