Business
VISIBLE GOLD MINES INCREASES SIZE OF PRIVATE PLACEMENT TO MAXIMUM $4.8 MILLION
VISIBLE GOLD MINES INCREASES SIZE OF PRIVATE PLACEMENT TO MAXIMUM $4.8 MILLION
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n Sep. 15, 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\nROUYN-NORANDA, QC, Sept. 15 /CNW Telbec/ - Visible Gold Mines Inc. (VGD :TSXV and 3V4:FRANKFURT) announces that it will increase the size of its previously-announced private placement to $4.8 million from $3.84 million, by issuing a maximum of 15 million units rather than 12 million units. As previously announced, each unit will be issued at a price of $0.32 and comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of Visible Gold Mines at a price of $0.45 for a period of one year following the closing of the private placement.\nClosing of the private placement is expected to occur on or about October 13, 2010.\nThe private placement, as increased in size, is subject to regulatory approval, including that of the TSX Venture Exchange. The shares and warrants to be issued in the private placement will be subject to a four-month "hold period" under applicable securities legislation.\n\nAbout Visible Gold Mines Inc.\n\nVisible Gold Mines is a corporation focused on gold in the prolific Abitibi Gold Belt in Canada. The Corporation has 25,869,929 common shares issued and outstanding.\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.\n\n%SEDAR: 00025339E\n\n\n\n \nMart...