Viscount announces a private placement of up to 20 million shares of the company at a price of 20 cents per share for proceeds of up to $4-million. The proceeds of the private placement will be used to continue exploration of the company’s Cherry Creek property located in Nevada and for general working capital purposes. The terms of the private placement are subject to approval by the TSX Venture Exchange. Viscount’s president and chief executive officer, Jim MacKenzie, comments: “This announcement today is a very positive step in the development of our business. The funding would greatly expedite our development plans for our Nevada holdings. We will now have the ability to accelerate our field program and to build on the momentum already underway.”
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