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Vior Completes the Second Closing of Its Overall Financing for a Total of $1,133,940
MONTREAL, QC / ACCESSWIRE / July 29, 2022 / VIOR INC. ("Vior" or the "Corporation"), (TSXV:VI...
About this update from Vior Gold Corporation Inc.
[{"type":"text","content":"Vior Completes the Second Closing of Its Overall Financing for a Total of $1,133,940MONTREAL, QC / ACCESSWIRE / July 29, 2022 / VIOR INC. (\"Vior\" or the \"Corporation\"), (TSXV:VIO)(OTC PINK:VIORF)(FRANKFURT:VL51) is pleased to announce the second closing of its financing previously announced on July 22, 2022 (the \"Offering\") through the issuance of 3,915,000 units (the \"Units\") at a price of $0.13 per unit for gross proceeds of $508,950. The total gross proceeds to Vior from the Offering is $1,133,940.Each Unit is comprised 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 entitles the holder to acquire one additional Common Share at an exercise price of $0.21 per Common Share for a period of 30 months from the closing date. The Warrants shall be subject to an accelerated expiry date clause whereby, at any time following the expiry of the four-months and one day hold period, should the trading price of the Common Shares on the TSX Venture Exchange (the \"TSX-V\") be equal to or exceed $0.35 for 10 consecutive trading days, as evidenced by the price at the close of the market, then Vior shall be entitled to notify the holder of its intention to force the exercise of the Warrants within a period of 30 days following the receipt of such notice by the Warrant holder.In this second closing, the Corporation issued 2,365,000 units for gross proceeds of $307,450 to two Québec-based institutional funds, Capital régional et coopératif Desjardins managed by Desjardins Capital (« Desjardins Capital ») and Société de Développement de la Baie-James (« SDBJ »).Mark Fedosiewich, President and CEO stated: \"We are extremely pleased to have these two Quebec based Institutional funds participate in this second closing of the Offering and increase their ownership position in our Corporation, and we thank them for their ongoing support\".Vior intends to use the net proceeds from this Offering to fund exploration work in Quebec, as well as for working capital and general corporate purposes.The Units and the Warrants issued in connection with Offering are subject to a four-month and one (1) day hold period expiring on November 30, 2022 pursuant to National Instrument 45-102 - Resale R...