Business
VISIBLE GOLD MINES COMPLETES SALE TRANSACTION OF PROPERTIES TO FOKUS MINING CORPORATION
VISIBLE GOLD MINES COMPLETES SALE TRANSACTION OF PROPERTIES TO FOKUS MINING CORPORATION ...
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n VISIBLE GOLD MINES COMPLETES SALE TRANSACTION OF PROPERTIES TO FOKUS MINING CORPORATION\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 Sept. 4, 2025\n \n\n /CNW/ -\n \n Visible Gold Mines Inc. (the \"Corporation\")\n \n (TSXV: VGD) (\n \n FRANKFURT\n \n : 3V41) is pleased to announce that it has successfully closed its transaction previously-announced on\n \n august 12, 2025\n \n with Fokus Mining Corporation (\"\n \n Fokus\n \n \") for the sale of the Company's  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 an asset purchase agreement dated\n \n August 11, 2025\n \n with Fokus (the \"\n \n Agreement\n \n \"), the Corporation received in consideration for the sale of the Properties to Fokus: (i) a cash payment of\n \n $750,000\n \n on the closing date; and (ii) 10,000,000 common shares of Fokus, valued at\n \n $1.5 million\n \n . In addition, the Corporation will be paid an additional amount of\n \n $750,000\n \n in cash by Fokus (the \"\n \n Additional Payment\n \n \") by no later than December 3, 2025, which is three months following the closing date (the \"\n \n Transaction\n \n \").\n \n\n \"This is an important transaction for Visible Gold Mines. In addition to restoring the Corporation's financial position without any dilution for Visible Gold Mines' shareholders, we will have the financial capacity to promote and develop our gold assets in the\n \n Chapais\n \n and\n \n James Bay\n \n areas in a market that is increasingly receptive to investors. We also believe that the Fokus team will be able to take our projects in the\n \n Rouyn-Noranda\n \n area to the next level, and that we will bene...