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Vior Announces Accelerated Acquisition of 100% of Former Belleterre Gold Mine
MONTREAL, QC / ACCESSWIRE / April 30, 2024 / VIOR INC. (" Vior " or the " Corporation ") (T...
About this update from Vior Gold Corporation Inc.
[{"type":"text","content":"Vior Announces Accelerated Acquisition of 100% of Former Belleterre Gold MineMONTREAL, QC / ACCESSWIRE / April 30, 2024 / VIOR INC. (\"Vior\" or the \"Corporation\") (TSXV:VIO)(OTCQB:VIORF)(FRA:VL51) is pleased to announce the execution of a definitive asset purchase agreement (the \"Acquisition Agreement\") for its acquisition (\"the Acquisition\") of two mining concessions (the \"Concessions\") that constitute the majority of the former Belleterre mine that produced more than 750,000oz @ 10.73g/t gold and 95,000oz @ 1.37g/t silver between 1936 and 1959 (source: Sigeom MERN). The Concessions are at the heart of Vior's flagship district-scale Belleterre Gold Project, located in the Abitibi-Temiskaming region of Quebec.The Corporation and Concession owners had originally executed an Option Agreement (the \"Option Agreement\") pursuant to which, Vior had an exclusive option to purchase the Concessions and a series of mining claims for a total consideration of $2.1 million, of which $250,000 cash has already been paid (see the Corporation's news release, dated February 4, 2021). Under the Option Agreement, the Corporation previously completed the acquisition of the mining claims that now form part of Vior's flagship district-scale Belleterre Gold Project. Under the Acquisition Agreement, Vior will pay the Concession owners a cash payment of $1 million as consideration for the transfer of the vendor's 100% interest in the Concessions. The closing of the Acquisition is expected to occur on or about May 14, 2024.Mark Fedosiewich, President and CEO of Vior Inc., commented, \"We are pleased to announce the successful renegotiation of this important Acquisition Agreement for the Belleterre Concessions. This renegotiated Agreement demonstrates our ability to respond to changing market conditions and ensures that Vior owns 100% of this integral piece of our Belleterre Gold Project. We remain focused on executing our strategic plan at Belleterre with the aim of delivering significant value to our shareholders.\"By securing the acquisition of the Concessions at a reduced cost, Vior continues its commitment to sound financial management, and aims to maximize value for its shareholders while advancing its growth objectives through its significant +60,000m drill program. The drill program is expected to begin by early Summer, 2024.About the Bel...