Vior Announces Termination Agreement With Ethos Gold On Ligneris Project
MONTREAL, CANADA, April 27, 2021 – VIOR INC. (“Vior” or the “Corporation”), (TSX-V: 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.