ROUYN-NORANDA, QC, Jan. 4,
2021 /CNW Telbec/ - 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.