Val-d'Or Mining Closes $360,000 Private Placement Financing
Val-d'Or Mining Closes $360,000 Private
Placement Financing
Val-d'Or, Quebec--(Newsfile Corp. - July 3, 2020) -
Val-d'Or Mining Corporation (TSXV: VZZ) (the
"Company") is pleased to announce that it has completed a non-brokered private placement offering
(the "Offering") for gross proceeds of $360,000.
The Company issued 1,500,000 Flow-Through Common Shares (the "FT Shares") under the Offering at
a price of $0.24 per FT Share.
The FT Shares will be "flow-through shares" as defined in the
Income
Tax Act
(Canada).
Finder's fees in the aggregate amount of $21,700 in cash and finder's warrants to acquire an aggregate
90,416 shares at a per share price of $0.24 until July 3, 2022 (the "Finder's Warrants") were paid to
arm's-length's finders who introduced the Company to investors.
The proceeds raised from the Offering will be used by the Company to conduct further exploration work
on its properties in the Abitibi Greenstone Belt, Québec. All securities issued under the Offering,
including common shares underlying the Finder's Warrants, are subject to a hold period until November
4, 2020, in accordance with applicable securities legislation.
About Val-d'Or Mining Corporation
Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and
exploring, its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE
Ontario and NW Quebec. To complement its current property interests, the Company regularly evaluates
new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi
Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering
different geological environments (Ni-Cu-PGE's).
The Company has an expertise in the identification and generation of new projects, and in the early
stages of exploration. The mineral interests are broad and range from gold, copper-zinc-silver, nickel-
copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or
majority-owned properties, the Company seeks option/joint venture partners with the technical expertise
and financial capacity to conduct more advanced exploration projects.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email:
Forward Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements.
Forward looking statements are statements that are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects",
"potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should"
occur.
Although the Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance and
actual results or realities may differ materially from those in forward looking statements. Forward looking
statements are based on the beliefs, estimates and opinions of the Company's management on the date
the statements are made.
Except as required by law, the Company undertakes no obligation to update
these forward-looking statements in the event that management's beliefs, estimates or opinions, or other
factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO
SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE
SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND
MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS
REGISTERED OR EXEMPT THEREFROM.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S.
NEWS AGENCIES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/59111