Business
Vior Signs Letter of Intent With Soquem To Advance Its District-Scale Skyfall Nickel Project
MONTREAL, QB / ACCESSWIRE / December 21, 2022 / VIOR INC. ("VIOR" or the "Corporation"), (TSX-V:V...
About this update from Vior Gold Corporation Inc.
[{"type":"text","content":"\nVior Signs Letter of Intent With Soquem To Advance Its District-Scale Skyfall Nickel ProjectMONTREAL, QB / ACCESSWIRE / December 21, 2022 / VIOR INC. (\"VIOR\" or the \"Corporation\"), (TSX-V:VIO, OTCQB:VIORF and FRANKFURT:VL51) is pleased to announce that it has signed a Letter of Intent (the \"LOI\") with SOQUEM Inc. (\"SOQUEM\"), a subsidiary of Investissement Québec, on its recently consolidated Skyfall Nickel project (\"Skyfall\" or the \"Project\"), located in the Abitibi Greenstone Belt, Québec, see fig. 1.The LOI outlines the principal terms and conditions that will form the basis for a definitive Option Agreement (the \"Agreement\") between VIOR and SOQUEM; providing SOQUEM with the right to acquire a 50% undivided interest in the Project, and if the Option is exercised by SOQUEM, the LOI outlines the principle terms of a future Joint Venture Agreement between VIOR and SOQUEM. The parties agree that an Agreement will be finalized and executed on or before January 25, 2023 and will be subject to the typical customary conditions, including receipt of all regulatory approvals.LOI Highlights:SOQUEM will have the option to acquire a 50% undivided interest in the Skyfall Nickel project, with VIOR owning the other 50% and being the operatorSOQUEM will finance exploration work commitments totalling $2.5 million over a two-year periodSOQUEM will make cash payments to VIOR totalling $350,000 over a two-year periodMark Fedosiewich, President and CEO of VIOR, stated: \"We are very excited to have a strong partner like SOQUEM to help support our efforts and to validate the potential at our Skyfall Nickel project. This Agreement is expected to provide VIOR shareholders with a strengthened financial position, allowing us to better focus and allocate capital in our overall exploration efforts, in particular at our flagship Belleterre gold project. This partnership with SOQUEM, a well-financed and socially responsible exploration company in Quebec, demonstrates the Quebec Government's strong commitment to aggressively explore and develop high-potential strategic metals projects for the North American battery metals market.\"Mr. Fedosiewich continues, \"Also, it is important for VIOR shareholders to note, that while the execution of a definitive Agreement will provide another great value creation opportunity to advance the Ni...