Visionary Metals Announces Upsize of Private Placement of up to CAD $3,000,000
Visionary Metals Announces Upsize of Private
Placement of up to CAD $3,000,000
Vancouver, British Columbia--(Newsfile Corp. - August 30, 2023) - Visionary Metals Corp. (TSXV: VIZ)
("
Visionary
" or the "
Company
") is pleased to announce that due to significant demand, the Company
has increased the size of its previously announced non-brokered private placement (the "
Offering
") from
CAD $1.5 million to CAD $3 million. Under the revised Offering, the Company will sell up to a total of
37,500,000 units of the Company (each, a "
Unit
") at a price of $0.08 per Unit for total gross proceeds of
up to CAD $3,000,000.
Each Unit will be comprised of one common share of the Company (each, a "
Unit Share
") and one half
of one common share purchase warrant (each whole warrant, a "
Warrant
"). Each Warrant will entitle the
holder thereof to acquire one common share of the Company (each, a "
Warrant Share
") at a price of
CAD $0.12 for a period of three years from the closing date of the Offering. The Company may pay
finders fees in connection with the Offering.
The net proceeds from the Offering will be used to fund the Company's 2023 exploration program and for
general working capital purposes. The closing of the Offering is expected to occur on or about
September 18, 2023, and is subject to receipt of all necessary regulatory approvals, including the
approval of the TSX Venture Exchange (the "
TSXV
"). The Unit Shares, Warrants and Warrant Shares
will be subject to a hold period of four months and one day in accordance with applicable securities laws.
This news release does not constitute an offer of securities for sale in the United States. The securities
being offered have not been, nor will they be, registered under the
United States Securities Act of 1933
,
as amended, and such securities may not be offered or sold within the United States absent U.S.
registration or an applicable exemption from U.S. registration requirements.
About Visionary Metals Corp:
Visionary Metals Corp. is a Vancouver-based mineral exploration company focused on making new
electric metals discoveries in Fremont County, Wyoming. Visionary's mission is to explore responsibly
and to develop resources in a manner that is beneficial to all stakeholders. While central Wyoming has a
strong mining history and favourable geologic conditions to host many types of metal deposits, it has
never been systematically explored using modern techniques. The Company now controls a land
package greater than 80 square kilometres with numerous drill ready targets, all accessible by road and
within a one-hour drive from Visionary's US headquarters in Lander County, Wyoming.
For additional information, please visit:
www.visionarymetalscorp.com
Contact:
Wes Adams, Chief Executive Officer
Visionary Metals Corp.
410-325 Howe Street
Vancouver, BC V6C 1Z7
Tel: (303) 809-4668
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities
legislation. These include, without limitation, statements with respect to the receipt of regulatory
approvals, including the approval of the TSXV, closing of the Offering and the use of proceeds therefrom
and statements with respect to the 2023 exploration program. Forward-looking statements are
necessarily based on a number of estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties and other factors which may cause actual results and
future events to differ materially from those expressed or implied by such forward-looking statements.
Such factors include, but are not limited to the TSXV may refuse to grant approval of the Offering; the
Company may reallocate the proceeds of the Offering for reasons that management believes are in the
Company's best interests; the Company may choose to defer, accelerate or abandon its exploration
plans; general business, economic and regulatory risks; capital and operating costs varying significantly
from management estimates; delays in obtaining or failures to obtain required governmental,
environmental or other project approvals; uncertainties relating to the availability and costs of financing
needed in the future; inflation; fluctuations in commodity prices; delays in the development of projects;
and the other risks involved in the mineral exploration and development industry generally. Although the
Company believes that the assumptions and factors used in preparing the forward-looking statements
are reasonable, undue reliance should not be placed on these statements, which only apply as of the
date of this news release, and no assurance can be given that such events will occur in the disclosed
time frames or at all. Except where required by law, the Company disclaims any intention or obligation to
update or revise any forward-looking statement, whether as a result of new information, future events, or
otherwise.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/179123