Vior Inc.: Signing of an Agreement With Northern Abitibi Mining Corporation
February 22 2011 - 9:31AM
Marketwired Canada
SOCIETE D'EXPLORATION MINIERE VIOR INC. (TSX VENTURE:VIO)(FRANKFURT:VL5) - is
pleased to announce the signing of an agreement with Northern Abitibi Mining
Corporation ("Northern Abitibi").
Pursuant to this agreement, Vior will acquire Northern Abitibi's 50%
participating interest in the NW/JV property. This property is comprised of 80
claims and is adjacent to the Douay property, owned by Vior, and where Aurvista
Gold Corporation has the option to earn up to a 100% participating interest.
Northern Abitibi will receive in compensation $75,000 in cash, 750,000 shares of
Vior's share capital, and a 1.5% net smelter royalty (NSR), half of which
(0,75%) can be bought back at any time for $1 million.
Vior already holds a 25% participating interest in the NW/JV property, and the
other 25% is held by SOQUEM.
The agreement is subject to the approval of regulatory authorities.
About Northern Abitibi
Northern Abitibi is an exploration company focused on developing its properties,
most notably its Viking Gold property in Labrador.
About Vior
Vior is a mining exploration company focused on developing its properties. The
company owns 75% of the Douay property as well as other quality exploration
projects.
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