Visionary Gold Corp. (TSX-V:VIZ) is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement, issuing 3,094,000 units of the Company at a price of $0.05 per Unit for gross proceeds of $154,700. In aggregate, Visionary sold 30,748,000 Units for total gross proceeds of $1,537,400 pursuant to the Offering.
Each Unit is comprised of one common share of the Company and one half of one common share purchase warrant. Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.10 for a period of 24 months from the closing date of the Offering.
The net proceeds from the Offering will be used to fund the Company’s 2022 exploration program and for general working capital purposes. The closing of the Offering is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Unit Shares, Warrants and Warrant Shares will be subject to a hold period of four months and one day in accordance with applicable securities laws.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
About Visionary Gold Corp:
Visionary Gold Corp is a Vancouver-based mineral exploration company focused on making new precious and base metals discoveries in Fremont County, Wyoming. Visionary’s mission is to explore responsibly and to develop resources in a manner that is acceptable to all stakeholders. While central Wyoming has a strong mining history, it has never been systematically explored using modern techniques. The Company now controls a land package greater than 50 square kilometres with numerous drill ready targets, all accessible by road and within a one-hour drive from Visionary’s US headquarters in Lander Wyoming.
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