Claude Veillette Announces Sale of Common Shares of Visible Gold Mines Inc.
ROUYN-NORANDA, Jan. 4, 2021 - Claude Veillette (the "Acquiror") announces that he has indirectly sold a total of 1,105,750 common shares of Visible Gold Mines Inc. (the "Corporation"), representing approximately 3.63% of the issued and outstanding common shares of the Corporation. The common shares were sold during the period of December 30, 2020 to December 31, 2020 through the facilities of the TSX Venture Exchange at an average price of $0.332 per common share, for gross proceeds of $366,902.50 (the "Transactions"). Immediately prior to the Transactions, the Acquiror held indirectly 3,805,750 common shares of the Corporation, representing approximately 12,49% of the issued and outstanding common shares of the Corporation and warrants (the "Warrants") entitling the Acquiror to purchase 747,500 common shares of the Corporation. Assuming the exercise of all Warrants held by the Acquiror before the Transactions, the Acquiror would have held indirectly 4,553,250 common shares, representing approximately 14.59% of the Corporation's common shares that would then be issued and outstanding.
Immediately following the closing of the Transactions, the Acquiror holds indirectly (i) 2,700,000 common shares of the Corporation, representing 8.86% of the issued and outstanding common shares of the Corporation, and (ii) Warrants entitling the Acquiror to purchase up to 747,500 common shares of the Corporation. Assuming the exercise of all Warrants held by the Acquiror, following the closing of the Transactions the Acquiror would own indirectly 3,447,500 common shares, representing 11.05% of the Corporation's common shares that would then be issued and outstanding.
The Acquiror sold the common shares described in this press release for investment purposes and in accordance with applicable securities laws, the Acquiror may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Corporation in the open market or otherwise, and he reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors.
The common shares described in this press release were acquired by 7753004 Canada Inc., a company controlled by Claude Veillette.
A copy of the early warning report to be filed by the Acquiror in connection with the Transactions described above will be available on SEDAR under the Corporation's profile. This news release is issued under the early warning provisions of the Canadian securities legislation.
SOURCE Visible Gold Mines Inc.
Contact
Claude Veillette, 250 Place Suzanne, Rouyn-Noranda, Québec, J9X 6C8, Tel.: (819) 763-5826