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Visible Gold Mines announces closing of private placement for $551,450
Visible Gold Mines announces closing of private placement for $551,450 Visible Gol...
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\nVisible Gold Mines announces closing of private placement for $551,450\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nVisible Gold Mines announces closing of private placement for $551,450\nCanada NewsWire\nROUYN-NORANDA, QC, June 17, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nROUYN-NORANDA, QC, June 17, 2016 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to announce that it has closed a private placement by issuing 11,029,000 \"flow-through\" units at a price of $0.05 per unit, for gross proceeds to Visible Gold Mines of $551,450.  Each of the units is comprised of one \"flow-through\" common share and one-half of a common share purchase warrant.  Each full warrant will entitle the holder to acquire one additional common share of Visible Gold Mines at a price of $0.10 until June 17, 2019.\n\nVisible Gold Mines will use the proceeds from the private placement for exploration on certain of its properties in Québec.\n\nIn connection with the private placement, Visible Gold Mines paid a finder's fee to Secutor Capital Management Corp in the amount of $44,116, representing 8% of the gross proceeds raised in the private placement and issued to Secutor Capital Management Corp and Marquest Capital Markets an aggregate of 882,320 broker warrants in connection with the sale of the \"flow-through\" units.  Each broker warrant entitles the holder to acquire one common share of Visible Gold Mines at a price of $0.10 until June 17, 2019.\n\nAs a result of the private placement, there are 125,889,087 common shares of Visible Gold Mines issued and outstanding on a non-diluted basis.  Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on October 18, 2016.\n\nAbout Visible Gold Mines\n\nVisible Gold Mines Inc. is a dynamic company aggressively searching for...