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VISIBLE GOLD MINES ANNOUNCES SALE OF PROPERTIES TO FOKUS MINING CORPORATION FOR CONSIDERATION VALUE OF $3 MILLION
VISIBLE GOLD MINES ANNOUNCES SALE OF PROPERTIES TO FOKUS MINING CORPORATION FOR CONSIDERATION VAL...
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n VISIBLE GOLD MINES ANNOUNCES SALE OF PROPERTIES TO FOKUS MINING CORPORATION FOR CONSIDERATION VALUE OF $3 MILLION\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n ROUYN-NORANDA, QC\n \n\n ,\n \n\n Aug. 12, 2025\n \n\n /CNW/ -\n \n Visible Gold Mines Inc. (the \"Corporation\")\n \n (TSXV: VGD) (\n \n FRANKFURT\n \n : 3V41) is please to announce that it has entered into an asset purchase agreement dated\n \n August 11, 2025\n \n (the \"Agreement\") with Fokus Mining Corporation (\"\n \n Fokus\n \n \") (TSXV: FKM) to sell its 100% interest in six properties, namely the Cadillac Break, Lucky Break, Silidor, Stadacona,\n \n Wasa Creek\n \n , and\n \n Wasa East\n \n projects, and a 40% interest in one property, the Capricorn project, all located along the Cadillac-Larder Lake Fault near the town of\n \n Rouyn-Noranda\n \n in the province of Québec,\n \n Canada\n \n (collectively, the \"\n \n Properties\n \n \").\n \n\n Pursuant to the terms of the Agreement, in consideration for the acquisition of the Properties, Fokus shall pay to the Corporation a total consideration of approximately\n \n $3,000,000\n \n , consisting of (i) the payment of\n \n $750,000\n \n in cash on the closing of the Transaction (as defined below), (ii) the issuance at closing of the Transaction of common shares of Fokus, having a value of\n \n $1,500,000\n \n (the \"\n \n Consideration Shares\n \n \"), with such number of Consideration Shares to be determined based on the volume-weighted average trading price of the common shares of Fokus on the facilities of the TSX Venture Exchange (the \"\n \n TSXV\n \n \") for the five business days immediately preceding the closing date, subject to the issuance of a minimum of 10,000,000 Consideration Shares and a maximum of 12,500,000 Consideration Shares; and (iii) the payment of an additional amount of\n \n $750,000\n \n in cash on the date that is three months following the closing date of the Transaction (the \"\n \n Transaction\n \n \").\n \n\n The closing of the Transaction is expected to occur on or before\n ...