Vior Inc. (“Vior”) closed a brokered private placement of C$19.3 million (the “Private Placement”) composed of:
(i) 30,000,000 units of Vior (the “Hard Units”) at an issue price of $0.125 per Hard Unit, with each Hard Unit comprised of one common share of Vior (a “Common Share”) and one-half of one common share purchase warrant of Vior (each whole warrant, a “Warrant”);
(ii) 19,840,000 subscription receipts (the “Subscription Receipts”) at an issue price of $0.125 per Subscription Receipt; and
(iii) 58,800,000 flow-through units of Vior (the “FT Units”) at an issue price of $0.2225 per FT Unit, with each FT Unit comprised of one Common Share and one-half of one Warrant, both qualifying as a “flow-through share” as per the applicable tax legislation. Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.21 per Common Share for a period of 24 months following the closing date of the Private Placement.
Pursuant to the Private Placement, Osisko Mining Inc. (“Osisko Mining”) subscribed to 16,560,000 Hard Units and 19,840,000 Subscription Receipts.
All Subscription Receipts offered pursuant to the Private Placement were acquired by Osisko Mining. The Subscription Receipts are convertible securities created and issued pursuant to a subscription receipt certificate and an escrow agreement both dated March 28, 2024, with each Subscription Receipt entitling the holder to receive one Hard Unit upon the satisfaction of the certain escrow release conditions (including the TSX Venture Exchange and shareholders’ approvals), without any action or payment on the part of the holder thereof.
A Fasken team composed of Frank Mariage, Jean-Philippe Côté, Damien Hallé-Hannan, William Harvey and Valérie Chapdelaine (articling student) advised Vior in this placement.
Jurisdiction
- Québec
