Vior Announces Closing of Private Placement
QUÉBEC, CANADA--(Marketwired - Dec. 11, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
SOCIÉTÉ D'EXPLORATION MINIÈRE Vior Inc. (TSX VENTURE:VIO)(FRANKFURT:VL51) (the "Company" or "Vior") is pleased to announce the closing of its previously announced non-brokered private placement at which it issued 1,500,000 units (the "Units") at a price of $0.08 per Unit, for gross proceeds to the Company of $120,000. Each Unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant entitle its holder to purchase one additional common share of the Issuer at a price of $0.12 for a period of sixty months ending on December 8, 2022.
The Company previously announced this private placement in connection to the nomination of Mr. Mark Fedosiewich as President and Chief Executive Officer (refer to press release dated October 30, 2017 for more details). All units were subscribed by Mr. Fedosiewich. His participation constitutes a "related party transaction" as defined under National Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("NI 61-101"). However, such participation is exempt from the valuation and minority shareholder approval requirements of NI 61-101 based on the fact that neither the fair market value of the private placement, nor the consideration paid by Mr. Fedosiewich, exceeds 25% of the Company's market capitalization. The Company did not file a material change report at least 21 days prior to the closing of the private placement as Mr. Fedosiewich was not an insider at the time of the negotiations of the private placement.
The private placement remains subject to the approval of the TSX Venture Exchange.
About Vior
Vior's strategy is to generate, explore and develop quality projects in the best proven and accessible mining areas. Through the years, Vior's management and technical team has demonstrated its ability to discover numerous gold deposits and mineral prospects.
SEDAR: Société d'exploration minière Vior Inc.
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 release.
Contact
Mark Fedosiewich
President and Chief Executive Officer
613-898-5052
mfedosiewich@vior.ca
Web site: www.vior.ca
