Business
VISIBLE GOLD MINES ANNOUNCES COMPLETION OF $4.9 MILLION PRIVATE PLACEMENT
Dec. 24, 2010 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR F...
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n Dec. 24, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nROUYN-NORANDA, QC, Dec. 24 /CNW Telbec/ - Visible Gold Mines Inc. (VGD:TSXV and 3V4:FRANKFURT) announces that it has completed its previously-announced private\n placement by issuing an aggregate of 6,156,250 "flow-through" units at\n an issue price of $0.80 per unit to five limited partnerships\n associated with MineralFields Group of Toronto, Ontario and to\n "accredited investors" in Canada on a prospectus-exempt basis, for\n gross proceeds to Visible Gold Mines of $4,925,000.\n\n\nEach unit is comprised of one common share and one-half of a common\n share purchase warrant. Each whole warrant entitles the holder thereof\n to acquire one additional common share of Visible Gold Mines at a price\n of $1.20 for a period of two years following the closing of the private\n placement. In the event that the closing price of Visible Gold Mines'\n common shares on the TSX Venture Exchange for any period of 20\n consecutive trading days, commencing not less than four months from the\n closing date of the private placement, is $1.50 or more, the exercise\n period of the warrants will be accelerated from two years to a period\n ending 30 days after the last day of the 20 consecutive trading-day\n period, unless the warrants would otherwise expire prior thereto.\n\n\nIn connection with the closing of the pri...