Visible Gold Mines Announces Closing of $260,000 Private Placement
TSX VENTURE: VGD
ROUYN-NORANDA, QC, Dec. 28, 2017 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to announce that it has completed a private placement by issuing 2,600,000 "flow-through" units at a price of $0.10 per unit, for gross proceeds to Visible Gold Mines of $260,000. Each of the units is comprised of one "flow-through" common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of Visible Gold Mines at a price of $0.15 until December 28, 2022.
Visible Gold Mines will use the proceeds from the private placement for exploration on certain of its properties in Québec.
As a result of the private placement, there are 15,188,789 common shares of Visible Gold Mines issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on April 29, 2018.
About Visible Gold Mines
Visible Gold Mines is a vibrant company actively exploring for the next major gold deposit in northwestern Québec, considered one of the world's best jurisdictions for mining and exploration.