Vior Inc.: $150,000 Debenture From Fonds Regional de Solidarite Nord-du-Quebec
August 14 2009 - 10:01AM
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 $150,000 with Fonds regional de solidarite
Nord-du-Quebec.
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 1 500 000 common
share purchase warrants to Fonds regional de solidarite
Nord-du-Quebec. 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 August 12, 2010, and thereafter at the price of
$0.13 until August 12, 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
December 13, 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 general
working capital.
Sedar: Societe d'exploration miniere Vior inc.
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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