MONTREAL, QC / ACCESSWIRE / April 27, 2021 / VIOR INC. ("Vior" or the "Corporation"), (TSXV:VIO)(FRANKFURT:VL51) - is pleased to announce that it has concluded a termination and release agreement (the "Agreement") with Ethos Gold Corp ("Ethos") (TSX-V) (OTCQB:ETHOF) whereby Ethos has accepted to renounce to all of its rights under the Earn-in Agreement dated June 26, 2019 on the Ligneris project in Abitibi, Quebec. Vior retains a 100% interest in the District Scale Ligneris Project with no royalties outstanding on the project.
As consideration for the renunciation, Vior has agreed to issue to Ethos, 1,000,000 units of Vior (the "Units"). Each Unit is comprised of one (1) common share in the capital of Vior (a "Share") and one (1) common share purchase warrant (a "Warrant"). Each Warrant shall entitle Ethos to acquire one (1) Share at a price of $0.30 per Share for a period of thirty-six (36) months following the issuance of the Units. In addition to any statutory hold period, Ethos agrees that the securities issued and comprising the Units will also be subject to a voluntary hold period of twelve (12) months from the date of issuance of the Units. The Agreement is subject to TSX-V approval.
Vior is a junior mining exploration company based in Quebec whose Corporate Strategy is to generate, explore, and develop high-quality projects in proven and favourable mining jurisdictions in North America. Through the years, Vior's management and technical team have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.
For further information, please contact:
President and CEO
VP Corporate Developement
SEDAR: Vior Inc.
Neither the 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 may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Vior's periodic reports including the annual report or in the filings made by Vior from time to time with securities regulatory authorities.
SOURCE: Vior Inc.
View source version on accesswire.com: