Vior Inc: $100,000 Debenture From Fonds de Solidarite FTQ
July 17 2009 - 3:19PM
Marketwired
SOCIETE D'EXPLORATION MINIERE VIOR INC. (TSX VENTURE:
VIO)(FRANKFURT: VL5) - is pleased to announce the closing of a
private placement by way of convertible debenture in the principal
amount of $100,000 with Fonds de solidarite FTQ.
The debenture bears interest at the annual rate of 12%, will
mature within three years and will be convertible in common share
of VIOR at a price of $0.10. VIOR also issued 1 000 000 common
share purchase warrants to Fonds de solidarite FTQ. Each warrant
will give the right to purchase one common share at a price of
$0.12 from the date of closing of the debenture until July 17th,
2010, and thereafter at the price of 0,13 $ until July 18th, 2011.
Interest will be payable in cash or common shares. However, no
interest will be payable during the first year if the Common Shares
of VIOR trade at a price equal or higher than $0.20 during the 20
trading days preceding an interest payment date. During the second
and third years, no interest will be payable if the Common Shares
trade at a price higher than $0.30 in the 20 trading days preceding
an interest payment date.
There will be a hold period of 4-months which will expire on
November 18th, 2009, on all securities issued under this financing.
There were no finder's fees paid in connection with this financing,
which is subject to the approval of the regulatory authorities. The
issuance of any share in payment of interest will also be subject
to the prior approval of the TSX Venture Exchange.
The proceeds of this placement shall be used by VIOR for
exploration activities and for general working capital.
Neither 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 this release.
Contacts: Vior Inc. Claude St-Jacques President & chief
executive officer 418-692-2678 cstjacques@vior.ca www.vior.ca
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