ROUYN-NORANDA, QC, Sept. 4, 2025 /CNW/ - Visible Gold Mines Inc. (the "Corporation") (TSXV: VGD) (FRANKFURT: 3V41) is pleased to announce that it has successfully closed its transaction previously-announced on august 12, 2025 with Fokus Mining Corporation ("Fokus") for the sale of the Company's 100% interest in six properties, namely the Cadillac Break, Lucky Break, Silidor, Stadacona, Wasa Creek, and Wasa East projects, and a 40% interest in one property, the Capricorn project, all located along the Cadillac-Larder Lake Fault near the town of Rouyn-Noranda in the province of Québec, Canada (collectively, the "Properties").
Pursuant to the terms of an asset purchase agreement dated August 11, 2025 with Fokus (the "Agreement"), the Corporation received in consideration for the sale of the Properties to Fokus: (i) a cash payment of $750,000 on the closing date; and (ii) 10,000,000 common shares of Fokus, valued at $1.5 million. In addition, the Corporation will be paid an additional amount of $750,000 in cash by Fokus (the "Additional Payment") by no later than December 3, 2025, which is three months following the closing date (the "Transaction").
"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 Chapais and James Bay 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 Rouyn-Noranda area to the next level, and that we will benefit from this as a shareholder of Fokus." said Martin Dallaire, the Chief Executive Officer of Visible Gold Mines.
As the Transaction constituted the sale of more than 50% of assets of the Corporation under the rules and policies of the TSX Venture Exchange, the Corporation obtained shareholder approval for the Transaction by way of written consent.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including if and when the Corporation will receive the Additional Payment. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation's control. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions described under "Financial risk management objectives and policies" and "Risk and Uncertainties" in the Corporation's Annual Report for the fiscal year ended July 31, 2024, a copy of which is available on SEDAR+ at www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does it undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
About Visible Gold Mines Inc.
Visible Gold Mines is a corporation focused on gold in the prolific Abitibi Gold Belt and the James Bay region in the province of Quebec. Visible Gold Mines has 37,155,164 common shares outstanding.
Website: www.visiblegoldmines.com
Neither 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, please contact: Martin Dallaire, President and Chief Executive Officer, Telephone: 819-762-0107, Fax: 819-762-0097, Cell: 819-763-6663, E-mail: [email protected]
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