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Vior Announces Financing with "Strategic Investment" by Osisko Mining Inc
MONTREAL, QC / ACCESSWIRE / March 17, 2021 / VIOR INC. ("Vior" or the "Corporation"), (TS...
About this update from Vior Gold Corporation Inc.
[{"type":"text","content":"Vior Announces Financing with “Strategic Investment” by Osisko Mining IncMONTREAL, QC / ACCESSWIRE / March 17, 2021 / VIOR INC. (\"Vior\" or the \"Corporation\"), (TSXV:VIO)(FRANKFURT:VL51) - is pleased to announce a non-brokered private placement of units of the Corporation (\"Units\") at a price of $0.20 per Unit for total gross proceeds of up to $2,100,000 (the \"Offering\") including a strategic investment from Osisko Mining Inc. (\"Osisko\") in the amount of $880,000. Each Unit will consist of one common share in the capital of Vior (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant a \"Warrant\"). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.30 per Common Share for a period of 24 months from the closing date. The Offering will be conducted in two separate tranches, with a first closing (\"1st Closing\") consisting of the strategic investment by Osisko and a second closing (\"2nd Closing\") with various investors in the amount of $1,220,000 to occur shortly thereafter. The specific details of each closing are as follows:1st ClosingIn conjunction with the Offering, Vior has entered into an agreement with Osisko, pursuant to which it has agreed to invest in Vior by subscribing for 4,400,000 Units for total gross proceeds of $880,000 (the \"Osisko Investment\"). The Warrants forming part of the Units purchased by Osisko shall be subject to an accelerated expiry date clause whereby, at any time following the expiry of the four-months and one (1) day hold period, should the trading price of the Common Shares on the TSX Venture Exchange (the \"TSX-V\") be equal to or exceed $0.30 for ten (10) consecutive trading days, as evidenced by the price at the close of the market, then Vior shall be entitled to notify Osisko of its intention to force the exercise of the Warrants within a period of 30 days following the receipt of such notice by Osisko. Immediately following the closing of the Osisko Investment, it is expected that Osisko will hold approximately 6.6% of the issued and outstanding Common Shares (and 9.9% on a partially diluted basis, presuming the exercise of all Warrants held by Osisko).\"We are extremely excited by this major announcement. This Strategic Investment by Osisko, so early in our growth strategy, is a...