Vior Announces $20 Million Private Placement

MONTREAL, March 20, 2024 (GLOBE NEWSWIRE) -- VIOR INC. (“Vior” or the “Company”) (TSXV: VIO; OTC: VIORF and FRANKFURT: VL51) is pleased to announce that it has entered into an agreement with Eight Capital to act as lead agent and sole bookrunner (together with a syndicate of agents, the “Agents”) in connection with a “best efforts” private placement offering by the Company of securities for aggregate gross proceeds of up to $20,000,000 (the “Offering”). Pursuant to the Offering, Vior may issue any combination of: (i) units of the Company (the “Hard Units”) and/or subscription receipts (the “Subscription Receipts”); and (ii) flow-through units of the Company (the “FT Units” and, together with the Hard Units and the Subscription Receipts, the “Offered Securities”). It is expected that approximately $13 million will be raised from FT Units and $7 million from Hard Units and Subscription Receipts.

Each Hard Unit and Subscription Receipt will have an issue price of $0.125 and each FT Unit will have an issue price of $0.2225. Each Hard Unit will be comprised of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of $0.21 for a period of twenty-four (24) months following the closing date of the Offering (the “Closing Date”).

Each FT Unit will consist of (i) one Share, each of which will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Québec), and (ii) one-half of one Warrant, each of which will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Québec).

Each Subscription Receipt will be automatically exchanged, without any action on the part of the holder thereof, for one Hard Unit upon satisfaction of the Escrow Release Conditions (as defined below). The only subscriber of Subscription Receipts will be Osisko Mining Inc. (the “Osisko Mining”) insofar as the Company must obtain, following the Closing Date, approvals of the TSX Venture Exchange (the “Exchange”) and the shareholders of the Company to authorize the creation of Osisko Mining as a new Control Person (as defined in the Corporate Finance Policy of the Exchange) of the Company resulting from Osisko Mining’s participation in the Offering.