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ROUYN-NORANDA, QC, Dec. 28, 2017 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to announce that it has completed a private placement by issuing 2,600,000 "flow-through" units at a price of $0.10 per unit, for gross proceeds to Visible Gold Mines of $260,000. Each of the units is comprised of one "flow-through" 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 $0.15 until December 28, 2022.
Visible Gold Mines will use the proceeds from the private placement for exploration on certain of its properties in Québec.
As a result of the private placement, there are 15,188,789 common shares of Visible Gold Mines issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on April 29, 2018.
About Visible Gold Mines
Visible Gold Mines is a vibrant company actively exploring for the next major gold deposit in northwestern Québec, considered one of the world's best jurisdictions for mining and exploration.
Neither the 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.
SOURCE Visible Gold Mines Inc.
For further information: Martin Dallaire, President and Chief Executive Officer, Telephone: 819-762-0107, Fax: 819-762-0097, E-mail: [email protected], Website: www.visiblegoldmines.com