Vancouver, BC-–Viscount Mining Corp. (TSX VENTURE: VML) (“Viscount” or the “Company”) is pleased to announce that it intends to carry out, subject to approval from the TSX Venture Exchange (the “Exchange“), a non-brokered private placement of units at a price of $0.20 per unit, for gross proceeds of up to $2,000,000 (the “Private Placement“). Each unit will consist of one common share of Viscount and one common share purchase warrant (each, a “Warrant“), with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.30 per share for a period of 36 months.
A Finder’s fee of cash and/or warrants may become payable in connection with this private placement.
Net proceeds from the financing will be used to for working capital and to advance the Company’s mineral properties.
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 8600 acres, all 100% owned, including more than 20 past producing silver and gold mines. For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
President, CEO and Director
Viscount Mining Corp.
For further information, please contact:
Viscount Investor Relations
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.
This press release contains forward-looking statements or information (collectively referred to herein as “forward-looking statements”) relating to the closing of the Private Placement. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, development and production, (3) the price of and demand for minerals and their effect on the economics of mineral exploration, (4) any number of events or causes which may delay or cease exploration and development of the Company’s property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) the Silver Cliff Property option agreement may not be completed for a number of reasons including possible failure to receive the approval of the TSX Venture Exchange, and (9) other factors beyond the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company’s course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.