Val-d'Or Mining Closes Private Placement Financing
Val-d'Or Mining Closes Private Placement
Financing
Val-d'Or, Québec--(Newsfile Corp. - May 6, 2021) - Further to its news release of March 25, 2021, 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 $303,789.98 (which was
over-subscribed by $3,789.98 to the amount previously announced).
The Company issued 2,336,846 Units under the Offering at a per Unit price of $0.13, each Unit
comprised of one common share in the capital of the Company and one-half of one non- transferable
common share purchase warrant, each whole warrant (a "Warrant") exercisable for the purchase of one
common share of the Company at a per share price of $0.19 until May 6, 2023.
Five insiders participated in the Offering for aggregate cash consideration to the Company of $51,090,
which constitutes a Related Party Transaction under TSX Venture Exchange Policy 5.9. The Company
availed itself of the exemptions contained in section 5.5(c) of MI 61-101 (distribution of securities for
cash) for an exemption from the formal valuation requirement and Section 5.7(1)(b) of MI 61-101 for an
exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of
the securities to be distributed in the transaction, and the consideration to be received by the Company
for those securities, insofar as the transaction involves interested parties did not exceed $2,500,000.
The net proceeds raised from the Offering will be used by the Company to conduct further exploration
work on its properties in the Abitibi Greenstone Belt, Ontario, and for general corporate purposes. All
securities issued under the Offering, including common shares underlying the Warrants, are subject to a
hold period until September 7, 2021, in accordance with applicable securities legislation and the
policies of the TSX Venture Exchange.
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 diverse mineral property assets, most of which are situated in the Abitibi Greenstone Belt of
NE Ontario and NW Québec. 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 and commodities (Ni-Cu-PGE's).
The Company has an expertise in the identification and generation of new projects, and in early- stage
exploration. The mineral commodities of interest 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/83207