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VISIBLE GOLD MINES ANNOUNCES COMPLETION OF OVERSUBSCRIBED $4.8 MILLION PRIVATE PLACEMENT
VISIBLE GOLD MINES ANNOUNCES COMPLETION OF OVERSUBSCRIBED $4.8 MILLION PRIVATE PLACEMENT
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n Oct. 25, 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, Oct. 25 /CNW Telbec/ - Visible Gold Mines Inc. (VGD :TSXV and 3V4:FRANKFURT) announces that it has completed its previously-announced private\n placement by issuing to "accredited investors" in Canada and elsewhere\n on a prospectus-exempt basis an aggregate of 15,000,000 units at an\n issue price of $0.32 per unit, for gross proceeds to Visible Gold Mines\n of $4.8 million.\n\n\nEach unit is comprised of one common share and one common share purchase\n warrant. Each warrant entitles the holder thereof to acquire one\n additional common share of Visible Gold Mines at a price of $0.45 for a\n period of one year following the closing of the private placement. In\n the event that the closing price of Visible Gold Mines' common shares\n on the TSX Venture Exchange for any period of 20 consecutive trading\n days, commencing not less than three months from the closing date of\n the private placement, is $0.90 or more, the exercise period of the\n warrants will be shortened from one year to a period ending 30 days\n after the last day of the 20 consecutive trading days, unless the\n warrants would otherwise expire prior thereto.\n\n\nThe proceeds from the private placement will be used for exploration on\n Visible Gold Mines' properties and for working capital purposes. In\n connection with the ...