Vior Closes $624,990 First Tranche Of A Private Placement

MONTREAL, CANADA, July 22, 2022 – VIOR INC. (“Vior” or the “Corporation”), (TSX-V: VIO, OTC: VIORF and FRANKFURT: VL51) is pleased to announce the closing of a first tranche of a private placement of units of the Corporation (the “Offering”) for gross proceeds of $624,990. The Offering is comprised of the issuance of 4,807,614 units (the “Units”) at a price of $0.13 per unit, with each Unit being comprised of one common share in the capital of Vior (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.21 per Common Share for a period of 30 months from the closing date. The Warrants shall be subject to an accelerated expiry date clause whereby, at any time following the expiry of the four-months and one day hold period, should the trading price of the Common Shares on the TSX Venture Exchange (the “TSX-V”) be equal to or exceed $0.35 for 10 consecutive trading days, as evidenced by the price at the close of the market, then Vior shall be entitled to notify the holder of its intention to force the exercise of the Warrants within a period of 30 days following the receipt of such notice by the Warrant holder.

As a part of the Offering, Osisko Mining Inc. (“Osisko”) exercised its equity participation right pursuant to an Investor Rights Agreement entered into by Vior and Osisko on March 17, 2021, and subscribed for 1,923,000 Units for gross proceeds of $249,990. Immediately following this closing, Osisko will own approximately 7.80% of the issued and outstanding Common Shares of Vior and 11.26% on a partially diluted basis, presuming the exercise of all Warrants held by Osisko.

Also, the Corporation issued 2,884,614 units for gross proceeds of $375,000 to two Québec-based institutional funds, Fonds de solidarité FTQ and SIDEX Limited Partnership.

Mark Fedosiewich, President and CEO stated: “We are extremely pleased to have Osisko and these two Quebec based Institutional funds participate in this Offering and increase their ownership position in our Corporation, and we thank them for their ongoing support”.

Vior intends to use the net proceeds from this Offering to fund exploration work in Quebec, as well as for working capital and general corporate purposes.

The Units and the Warrants issued in connection with Offering are subject to a four-month and one (1) day hold period expiring on November 23, 2022 pursuant to National Instrument 45-102 – Resale Restrictions and Regulation 45-102 – Resale of Securities and the certificates or DRS advices representing such securities will bear a legand to that effect.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the acceptance by the TSX-V. Vior also announces that it intends on closing a second tranche of the Offering in the near future.

About Fonds de solidarité FTQ

The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 748,371 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $17.4 billion in net assets as at May 31, 2022, the Fonds has supported 3,620 partner companies and 296,927 jobs. For more information

About SIDEX Limited Partnership.

SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ whose mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base, promote innovation and new entrepreneurs.