ROUYN-NORANDA, QC, Jan. 9, 2019 /CNW Telbec/ - Visible Gold Mines
Inc. (TSXV: VGD) (Frankfurt: 3V41) announces that it
proposes to issue an aggregate of 1,650,550 common shares in
settlement of a portion of a debt in an amount of $107,286 (the "Debt Settlement"). The debt
resulted from exploration services provided by a creditor of
Visible Gold Mines.
The common shares to be issued pursuant to the Debt Settlement
will be issued at a deemed price of $0.065 per share and will be subject to a
four-month hold period pursuant to applicable securities
legislation and the policies of the TSX Venture Exchange.
The Board of Directors and Management of Visible Gold Mines
believe that the proposed settlement of a debt by the issuance of
common shares is in the best interests of Visible Gold Mines as it
allows it to preserve its cash position.
The Debt Settlements is subject to regulatory approval,
including that of the TSX Venture Exchange.
About Visible Gold Mines
Visible Gold Mines is a vibrant company actively exploring for
the next major gold deposit in northwestern Québec, considered 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.
Website: www.visiblegoldmines.com
SOURCE Visible Gold Mines Inc.