VANCOUVER, Canada – (January 5, 2015) – Viscount Mining Corp. (TSX VENTURE: VML) (“Viscount” or “the Company) is pleased to announce that it has completed its previously announced private placement financing. The final tranche consisted of 3,588,333 units for gross proceeds of $538,250. In total the Company has issued 11,666,672 units for gross proceeds of $1,750,000.
Each Unit consists of one common share of the Company and one common share purchase warrant (a “Warrant”), with each Warrant exercisable into one common share of the Company for a period of 3 years from closing at an exercise price of C$0.25.
In connection with the final tranche, the Company will pay finder’s fees and commissions totaling $11,268.40 in cash, and 75,123 in finder’s warrants, with the warrants having the terms described above. The securities issued are subject to a four month hold period from the date of closing.
The Company also announces that pursuant to the Company’s Stock Option Plan on January 2, 2015 it has granted 1,175,000 stock options at a price of $0.20 per common share. The Options were granted to Directors, Officers and Consultants of the Company. The option grant will vest immediately. In accordance with the Company’s Stock Option Plan, the options granted are exercisable until January 2, 2020. Grant of the options is subject to the approval of the TSX Venture Exchange.
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States with holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
ON BEHALF OF THE BOARD OF DIRECTORS
President, CEO and Director
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.
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to the completion of any additional closings under the Offering. 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. 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 are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.