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Viscount Mining Corp. Announces Completion of Qualifying Transaction
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2013) - Viscount Mining Corp. (TSXV: V...
About this update from Viscount Mining Corp.
[{"type":"text","content":"\nViscount Mining Corp. Announces Completion of Qualifying TransactionVancouver, British Columbia--(Newsfile Corp. - July 23, 2013) - Viscount Mining Corp. (TSXV: VML) (the \"Company\"), formerly Faith Spring Venture Inc., is \npleased to announce that it has completed its previously announced share \nexchange (the \"Transaction\") with Viscount Mining Resources Ltd. (\"Viscount\") \nand all of the shareholders of Viscount. The Transaction was approved by \nshareholders at the Company's Annual and Special Meeting held on June 28, 2013.\nThe Company's common shares (the \"Common Shares\") will resume \ntrading on the TSX Venture Exchange under the ticker symbol \"VML\" after the \nExchange issues its final exchange bulletin confirming the completion of the \nTransaction. Currently, trading is expected to resume at the opening of market \non July 25, 2013.\nPrior to the completion of the Transaction, the Company changed \nits name to \"Viscount Mining Corp.\" and carried out a consolidation of its \nCommon Shares on the basis of one post-consolidation Common Share for every two \npre-consolidation Common Shares.\nPursuant to the Transaction, the Company acquired all of the \nissued and outstanding shares of Viscount and issued to the shareholders of \nViscount an aggregate of 17,150,000 Common Shares, all in accordance with a \nShare Exchange Agreement dated February 13, 2013.\nSince announcement of the Transaction in January, the Company \nand Viscount have completed financings for total gross proceeds of $765,000. The \nlast portion of such financings, being the private placement closed concurrently \nwith the Transaction (the \"Concurrent Private Placement\"), comprised the sale of \na total of 225,000 Common Shares at a price of $0.20 per Common Share. All \nCommon Shares issued pursuant to the Concurrent Private Placement are subject to \na four month hold period which expires on November 24, 2013.\nFor further details on the Transaction, please refer to the CPC \nInformation Circular (the \"Circular\") available on SEDAR at www.sedar.com.\nWith the completion of the Transaction, the Company has \n19,525,000 Common Shares issued and outstanding. The principals of the Company \ncollectively hold 2,932,000 Common Shares, which are subject to either a Tier 2 \nValue Security Escrow Agreement entered into in connection with the T...