QUEBEC, CANADA--(Marketwired - Feb 17, 2015) - SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. (TSX VENTURE:VIO) (VL5.F) (the "Company" or "Vior") - the Company is pleased to announce that it has received final approval from the TSX Venture Exchange for its previously announced one-for-five share consolidation. Effective at the opening of trading today Vior's shares commenced trading on the TSX Venture Exchange on a consolidated basis. Vior's shares will continue to trade under the symbol VIO.
The Company is also pleased to announce the closing, following the consolidation, of the previously announced non-brokered private placement (the "Offering") of units (the "Units") for total gross proceeds of $100,000. Each Unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant entitles the holder to acquire one (1) additional common share of the Company at a price of $0.14 until February 17, 2017. Under the Offering, Vior issued 1,000,000 Units at a price of $0.10 per Unit.
La Société d'investissement dans la diversification de l'exploration ("SIDEX") participated in the Offering for the whole $100,000 (1,000,000 Units). The mission of SIDEX is to invest in companies engaged in mineral exploration in Québec in order to diversify Québec's mineral base and open new territories.
The securities issued under the Offering are subject to a four month hold period ending on June 18, 2015. The Offering is subject to final approval from the TSX Venture Exchange. The proceeds from the Offering will be used by Vior to advance its exploration projects within Québec.
As a result of the one-for-five share consolidation and the private placement, Vior now has 22,103,744 shares issued and outstanding.
Profile Vior's strategy is to generate, explore and develop quality projects in the best proven an accessible mining areas. Vior owns approximately 29.8% of the share capital of Aurvista Gold Corp. (AVA.V), the owner of the gold Douay project, which contains a NI 43-101 compliant Mineral Resource of 114,652,000 tonnes at 0.75 g/t gold (2.8 million ounces of gold) in the Inferred category and 2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) in the Measured and Indicated categories, at a cut-off of 0.3 g/t gold (Aurvista press release of October 16, 2014).
SEDAR: Société d'exploration minière Vior inc.
Neither the TSX Venture Exchange nor its regulation services provided (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.