Vior Closes the "Strategic Investment" with Osisko Mining Inc

MONTREAL, March 23, 2021 - Vior Inc. ("Vior" or the "Corporation"), (TSXV:VIO)(FRANKFURT:VL51) - is pleased to announce the closing of the Strategic Investment with Osisko Mining Inc. ("Osisko") announced on March 17, 2021, for total gross proceeds of $880,000 through the subscription of 4,400,000 units at price of $0.20 per unit (the "Osisko Investment").

Each unit will consist of one common share in the capital of Vior (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant a "Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.30 per Common Share for a period of 24 months from the closing date. The Warrants forming part of the Units purchased by Osisko shall be subject to an accelerated expiry date clause whereby, at any time following the expiry of the four-months and one (1) day hold period, should the trading price of the Common Shares on the TSX Venture Exchange (the "TSX-V") be equal to or exceed $0.30 for ten (10) consecutive trading days, as evidenced by the price at the close of the market, then Vior shall be entitled to notify Osisko of its intention to force the exercise of the Warrants within a period of 30 days following the receipt of such notice by Osisko. Immediately following the closing of the Osisko Investment, Osisko now holds approximately 6.6% of the issued and outstanding Common Shares of Vior (and 9.9% on a partially diluted basis, presuming the exercise of all Warrants held by Osisko).

In connection with the Osisko Investment, the parties have entered into an Investor Rights Agreement (the "Agreement") announced on March 17, 2021, pursuant to which Osisko will be granted certain rights for as long as Osisko holds Common Shares equal to at least 5% of the issued and outstanding Common Shares of the Corporation (on a non-diluted basis).

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the acceptance by the TSX-V.

About Vior

Vior is a junior mining exploration company based in Quebec whose Corporate Strategy is to generate, explore, and develop high-quality projects in proven and favourable mining jurisdictions in North America. Through the years, Vior's management and technical team have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.

For further information, please contact:

Mark Fedosiewich
President and CEO
Tel.: 613-898-5052
mfedosiewich@vior.ca

Laurent Eustache
VP Corporate Development
Tel.: 514-442-7707
leustache@vior.ca

Website: www.vior.ca
SEDAR: Vior Inc.

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 this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward- looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vior to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, but are not limited to, the Corporation's ability to obtain all approvals required in connection with the Offering and successfully complete the Offering, the Corporation's ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Corporation's business, failure to identify mineral resources and failure to convert such estimated mineral resources to reserves, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR (www.sedar.com) under Vior's issuer profile. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Vior Inc.