Business
Visionary Gold Corp. Announces Upsize of Private Placement to up to $3,500,000
Vancouver, British Columbia--(Newsfile Corp. - May 18, 2021) - Visionary Gold Corp. (TSXV: VIZ...
About this update from Visionary Metals Corp
[{"type":"text","content":"Visionary Gold Corp. Announces Upsize of Private Placement to up to $3,500,000Vancouver, British Columbia--(Newsfile Corp. - May 18, 2021) - Visionary Gold Corp. (TSXV: VIZ) (\"Visionary\" or the \"Company\") is pleased to announce that due to significant demand, the Company has increased the size of its previously announced non-brokered private placement (the \"Offering\") from $2.0 million to $3.5 million. Under the revised Offering, the Company will sell up to 19,444,445 units of the Company (each, a \"Unit\") at a price of $0.18 per Unit for gross proceeds of up to $3,500,000 (the \"Offering\").Each Unit will be comprised of one common share of the Company (each, a \"Unit Share\") and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one common share of the Company (each, a \"Warrant Share\") at a price of $0.27 for a period of 24 months from the closing date of the Offering. The Warrants will be subject to an acceleration clause, whereby if the 10-day volume weighted average trading price of the common shares of the Company is equal to or exceeds $0.40, the warrant expiry date shall accelerate to a date that is 30 calendar days after the issuance of a notice by the Company to the holders of the Warrants announcing the acceleration of the Warrants. Certain parties, including Red Cloud Securities Inc., will be acting as finders in connection with the Offering.The net proceeds from the Offering will be used for exploration of the Company's Wolf Gold Project and its regional land package and for general working capital purposes. The closing of the Offering is expected to occur on or about May 28, 2021 and is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Unit Shares, Warrants and Warrant Shares will be subject to a hold period of four months and one day in accordance with applicable securities laws.This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirement...