Vior Announces Conversion of Subscription Receipts and Closing of Royalty Option Agreement with Osisko Mining

Montreal, QC / ACCESSWIRE / June 28, 2024 - Vior Inc. (TSXV:VIO)(OTCQB:VIORF)(FRANKFURT:VL51) announced the conversion of Subscription Receipts into Units and the closing of a Royalty Option Agreement with Osisko Mining. Vior had previously raised $19.3 million through an offering that included Subscription Receipts and Units.

The Escrow Release Conditions for the Subscription Receipts have been met, allowing for their automatic conversion into Units. This resulted in the release of approximately $2.48 million in escrowed funds to Vior. Each Unit consists of one common share and half of one common share purchase warrant, each whole warrant allowing for the purchase of a share at $0.21 until March 28, 2026.

Osisko Mining acquired 19,840,000 Subscription Receipts at $0.125 each. Following this transaction, Vior satisfied the necessary conditions to authorize Osisko Mining as a "Control Person" and entered into both an amended Investor Rights Agreement and a Royalty Option Agreement for the Belleterre Gold Project. Vior's overall financing now totals $21.83 million.

Mark Fedosiewich, President and CEO of Vior, expressed satisfaction with the milestone, emphasizing the investor confidence in the Belleterre Gold Project. The company has also received $250,000 from Osisko Mining in relation to the Royalty Option Agreement's closing.