Vior Inc. Completes $19.3 Million Financing for Belleterre Gold Project Expansion

Vior Inc., a Montreal-based mineral exploration corporation, has announced the successful closure of a significant private placement, securing gross proceeds of $19,313,000. This strategic fundraising, managed by a syndicate of agents led by Eight Capital, included the issuance of 30,000,000 Hard Units, 19,840,000 Subscription Receipts, and 58,800,000 Flow-Through Units (FT Units), priced at $0.125 and $0.2225, respectively.

The Hard Units consist of one common share and a half warrant, each enabling the purchase of an additional share at $0.21 within 24 months. Similarly, each FT Unit includes a share and a half warrant, with the proceeds aimed at financing eligible Canadian exploration expenses, benefiting from federal and Québec tax incentives.

Mark Fedosiewich, President and CEO of Vior, highlighted the funding's importance in advancing the Belleterre Gold Project in Québec. The company plans to allocate over $13 million towards exploration, including an expansive drill program. Special thanks were extended to stakeholders, including Osisko Mining Inc., for their support.

The offering also entails the conversion of Subscription Receipts into Hard Units, contingent on regulatory approvals and the authorization for Osisko Mining to become a significant shareholder. Following the offering, Osisko Mining will potentially hold a 23.6% share, pending the completion of the Subscription Receipts conversion process.

Further, Vior anticipates shareholder approval for various agreements, including an amended investor rights agreement with Osisko Mining and a Royalty Option Agreement, during a special shareholder meeting slated for May 2024.