/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
ROUYN-NORANDA, QC, Dec. 1,
2015 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD)
(Frankfurt: 3V4) is pleased to
announce that it has completed a private placement by issuing
5,692,500 "flow-through" units at a price of $0.055 per unit, for gross proceeds to Visible
Gold Mines of $313,088. Each of
the units is comprised of one "flow-through" common share and
one-half of a common share purchase warrant. Each full warrant
will entitle the holder to acquire one additional common share of
Visible Gold Mines at a price of $0.10 until June 1, 2017.
Visible Gold Mines will use the proceeds from the private
placement for exploration on certain of its properties in
Québec.
In connection with the private placement, Visible Gold Mines
paid a finder's fee to Industrial Alliance Securities Inc. in an
amount of $25,047, representing 8% of
the gross proceeds raised in the private placement and issued to
Industrial Alliance Securities 455,400 broker warrants in
connection with the sale of the "flow-through" units. Each
broker warrant entitles Industrial Alliance Securities to acquire
one common share of Visible Gold Mines at a price of $0.10 until June 1, 2017.
As a result of the private placement, there are 100,419,178
common shares of Visible Gold Mines issued and outstanding on
a non-diluted basis. Under applicable securities legislation and
the policies of the TSX Venture Exchange, the securities issued in
the private placement are subject to a four-month hold period,
expiring on April 2, 2016.
About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic company aggressively
searching for the next important gold deposit in northwestern
Québec, an area consistently ranked as one of the world's best
jurisdictions for mining and exploration.
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 the release.
SOURCE Visible Gold Mines Inc.