Vior Announces Closing of C$1.49 Million Private Placement

2021-10-22 05:35:42

MONTREAL, QC / ACCESSWIRE / October 22, 2021 / Vior Inc. (“Vior” or the “Corporation”), (TSXV:VIO)(FRANKFURT:VL51) is pleased to announce that it has completed the closing of a non-brokered private placement by issuing a total of 5,327,628 flow-through common shares (the “Flow-Through Shares”) at $0.28 per share, for total gross proceeds of $1,491,736. The securities issued in the private placement are subject to a four-month hold period expiring on February 22, 2022.

Vior will use the private placement proceeds to fund exploration work on its Quebec properties .

The Insiders’ participation for $222,600 is exempt from the formal valuation and minority shareholder approval requirements provided under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-101”) in accordance with Sections 5.5(a) and 5.7(1)(a) of Regulation 61-101. The exemption is based on the fact that neither the fair market value of the private placement, nor the consideration paid by such Insiders exceeds 25% of the market capitalization of the Corporation.

As a result of the closing of the private placement, there are now 78,271,895 common shares of Vior issued and outstanding.

The private placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. In connection with the Offering, finder’s fees equal to an aggregate amount of $58,552 were paid to arm’s length third parties of Vior.

About Vior

Vior is a hybrid junior mining exploration company based in Quebec, whose Corporate strategy is to generate, explore and develop high-quality projects in proven and favourable mining jurisdictions in North America. Through the years, Vior’s management and technical teams have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.

For further information, please contact:

Mark Fedosiewich
President and CEO
Tel. : 613-898-5052
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Laurent Eustache
Executive Vice-President
Tel. : 514-442-7707
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Web Site: www.vior.ca
SEDAR : Vior Inc

Forward-Looking Statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the Belleterre project, the expected positive exploration results, the timing of the exploration results, the ability of the Corporation to continue with the exploration program, the availability of the required funds to continue with the exploration and the approval from the Ministère de l’énergie et des ressources naturelles (“MERN”) of the request for abandonment of the two mining concessions filed by 9293-0122 Québec Inc. are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “to earn”, “to have’, “plan” and “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Corporation’s ability to control or predict, that may cause the actual results of the Corporation to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, the possibility that future exploration results will not be consistent with the Corporation’s expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks, the refusal by the MERN to approve the request for abandonment of the two mining concessions held by 9293-0122 Québec Inc. as well as those risks identified in the Corporation’s annual Management’s Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Corporation has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Corporation does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

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.

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