VISIBLE GOLD MINES ANNOUNCES PRIVATE PLACEMENT

About this update from Visible Gold Mines Inc.

[{"type":"text","content":"\n \n \n \n VISIBLE GOLD MINES ANNOUNCES PRIVATE PLACEMENT\n \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 \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n ROUYN-NORANDA, QC\n \n \n ,\n \n \n March 31, 2023\n \n \n /CNW/ -\n \n Visible Gold Mines Inc.\n \n (TSXV: VGD) (\n \n FRANKFURT\n \n : 3V41) (\"Visible Gold Mines\" or the \"Corporation\") is pleased to announce that it is arranging a small private placement of\n \n $150,000\n \n of units (the \"Units\"), at a price of\n \n $0.12\n \n per Unit with two subscribers.\n \n Martin Dallaire\n \n , the Chief Executive Officer of the Corporation, will subscribe for 50% of the private placement.\n \n \n Each Unit will be comprised of one common share (the \"Common Share\") in the capital of the Corporation and one (1) common share purchase warrant (the \"Warrant\") of the Corporation. Each Warrant will entitle the holder thereof to acquire one additional Common Share at a price of\n \n $0,17\n \n for a period of twenty-four (24) months from the closing date (the \"Closing Date\") of the private placement.\n \n \n The net proceeds from the issuance of the Units will be used for general and administrative purposes and for exploring the Corporation's mining properties located in the province of Québec.\n \n \n The participation of the Chief Executive Officer of the Corporation, who is related party as defined in Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument 61-101 –\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"MI 61-101\"), in the private placement, would be considered a related party transaction, however the Corporation expects that such transaction would be exempt from the formal valuation requirement and shareholder approval requirement of MI 61-101 as the fair market value of any Units issued to such persons will not exceed 25% of the Corporation's market capitalization.\n \n \n This n...

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