Vior Announces Change in Management and Private Placement
QUÉBEC, CANADA, October 30, 2017 – Mr. Claude St-Jacques, current President, Chief Executive Officer and Chairman of the Board of Directors of SOCIÉTÉ D’EXPLORATION MINIÈRE VIOR INC. (TSX VENTURE (VIO), FRANKFURT (VL51) (the “Company” or “Vior”) is pleased to announce the appointment of Mr. Mark Fedosiewich as the new incoming President and Chief Executive Officer of the Company. Mr. Fedosiewich is an Honours Bachelor of Commerce graduate who has been involved in the investment industry for over 30 years in a number of senior advisory positions with several prominent investment firms, most recently as First Vice President at CIBC Wood Gundy.
He has established, over his successful career, an extensive network across North America of mining executives, experienced high net worth junior resource investors, and prominent junior resource portfolio managers.
As incoming President and CEO, Mr. Fedosiewich brings along his strong leadership, organizational, financial and corporate development experience that he hopes to lever with Vior’s existing strong geological and technical team. Mr. Fedosiewich is confident that Vior can develop into a solid exploration company that will build value for its shareholders and be recognized for the quality of its projects and of its management.
n connection with his appointment, the Board of Directors has granted Mr. Fedosiewich 850,000 stock options entitling to purchase same number of common shares of Vior at a price of $0.10 per share for a period of 10 years ending on October 30, 2027.
The Company also announces that in connection with his nomination has President and Chief Executive Officer, Mr. Fedosiewich has agreed to subscribe to 1.5 million units of the Company (the “Units”) at a a price of $0.08 per Unit, for total gross proceeds to the Company of $120,000 (the “Offering”).
Each Unit consists of one (1) common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”), each Warrant entitling to acquire one (1) additional common share of the Company at a price of $0.12 per share for a period of five (5) years from the closing of the Offering.
The Offering remains subject to the approval of the TSX Venture Exchange.