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Visionary Metals Corp. Announces Closing of Second Tranche of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2024) - Visionary Metals Corp. (TSXV: VI...
About this update from Visionary Metals Corp
[{"type":"text","content":"Visionary Metals Corp. Announces Closing of Second Tranche of Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 8, 2024) - Visionary Metals Corp. (TSXV: VIZ) (\"Visionary\" or the \"Company\") is pleased to announce that it has closed the second tranche (the \"Second Tranche\") of its previously announced non-brokered private placement (the \"Offering\"), issuing 5,140,000 units of the Company (each, a \"Unit\") at a price of $0.05 per Unit (the \"Offering Price\") for gross proceeds of $257,000. Together with the first tranche of the Offering which closed on July 11, Visionary sold a total of 8,176,000 Units for aggregate gross proceeds of $408,800.Each Unit is 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 entitles the holder thereof to acquire one common share of the Company (each, a \"Warrant Share\") at a price of $0.10 (the \"Exercise Price\") for a period of 48 months from the closing date of the Offering. The net proceeds from the Offering will be used to fund the Company's 2024 exploration program and for general working capital purposes. The closing of the Offering is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the \"TSXV\"). The Offering was completed in accordance with the listed issuer financing exemption (the \"LIFE Exemption\") under NI 45-106 - Prospectus Exemptions. The Company issued a total of 500,000 Units pursuant to the LIFE Exemption in the Second Tranche of the Offering. Accordingly, the Unit Shares, Warrants, and Warrant Shares issued to purchasers resident in each of the Provinces of Canada pursuant to the LIFE Exemption, are not subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.visionarymetalscorp.com. Prospective investors have been directed to read this offering document before making an investment decision.The Company issued a total of 4,640,000 Units to purchasers not resident in each of the Provinces of Canada. Accordingly, the Unit Shares, Warrants, and Warrant Shares not issued pursuant to ...