Business
Vior Announces Closing of Strategic $19.3 Million Private Placement
MONTREAL, QC / ACCESSWIRE / March 28, 2024 / VIOR INC. ("Vior" or the "Corporation") (TSXV:VIO)(O...
About this update from Vior Gold Corporation Inc.
[{"type":"text","content":"Vior Announces Closing of Strategic $19.3 Million Private PlacementMONTREAL, QC / ACCESSWIRE / March 28, 2024 / VIOR INC. (\"Vior\" or the \"Corporation\") (TSXV:VIO)(OTCQB:VIORF) and (FRANKFURT:VL51) is pleased to announce that it has closed its previously announced \"best efforts\" private placement (the \"Offering\"), led by Eight Capital, as lead agent and sole bookrunner, together with PI Financial Corp., Canaccord Genuity Corp., Red Cloud Securities Inc., Cormark Securities Inc. and Leede Jones Gable Inc. (collectively, the \"Agents\"). Pursuant to the Offering, the Corporation issued: (i) 30,000,000 units of the Corporation (the \"Hard Units\") at an issue price of $0.125 per Hard Unit; (ii) 19,840,000 subscription receipts (the \"Subscription Receipts\") at an issue price of $0.125 per Subscription Receipt; and (iii) 58,800,000 flow-through units of the Corporation (the \"FT Units\") at an issue price of $0.2225 per FT Unit, for aggregate gross proceeds of $19,313,000.Each Hard Unit is comprised of one common share of the Corporation (each, a \"Share\") and one-half of one common share purchase warrant of the Corporation (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Share at an exercise price of $0.21 per Share for a period of 24 months following the closing date of the Offering (the \"Closing Date\"). Each FT Unit consists of one Share and one-half of one Warrant, each of which qualifies as a \"flow-through share\" within the meaning of Subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\") and Section 359.1 of the Taxation Act (Québec) (the \"QTA\"). The gross proceeds from the sale of FT Units will be used by the Corporation to incur expenses described in paragraph (f) of the definition of \"Canadian exploration expense\" (\"CEE\") in Subsection 66.1(6) of the Tax Act and paragraph (c) of the definition of CEE in Section 395 of the QTA, and will be renounced in favour of the relevant purchaser for both federal and Québec tax purposes no later than December 31, 2024 on a pro rata basis. Such expenses will also qualify as \"flow-through mining expenditures\" as defined in Subsection 127(9) of the Tax Act for the purposes of the federal tax credit described in paragraph (a.2) of the definition of \"investment tax credit\" in Subsection 127(9) of the Ta...