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Visible Gold Mines announces third and final closing of private placement for an additional $294,250
Visible Gold Mines announces third and final closing of private placement for an additiona...
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\nVisible Gold Mines announces third and final closing of private placement for an additional $294,250\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 third and final closing of private placement for an additional $294,250\nCanada NewsWire\nROUYN-NORANDA, QC, Dec. 30, 2015\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, Dec. 30, 2015 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to announce that it has held a third and final closing of its previously-announced private placement by issuing an aggregate of 5,350,000 \"flow-through\" units at a price of $0.055 per unit, for gross proceeds to Visible Gold Mines of $294,250. Each of the units is comprised of one \"flow-through\" common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of Visible Gold Mines at a price of $0.10 until June 30, 2017.\n\nAs a result of the third closing, Visible Gold Mines raised total proceeds of $1,107,338 in the private placement.\n\nVisible Gold Mines will use the proceeds from the third closing of the private placement for exploration on certain of its properties in Québec.\n\nIn connection with the private placement, Visible Gold Mines paid finder's fees to registered dealers in the aggregate amount of $23,540, representing 8% of the gross proceeds raised in the third closing of the private placement and issued to such registered dealers an aggregate of 428,000 non-transferable 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 30, 2017.\n\nAs a result of the third closing of the private placement, there are 114,860,087 common shares of Visible Gold Mines issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the TSX Ve...