Visible to sell assets to Fokus for $3-million

Executive Summary

• Visible Gold Mines Inc. entered into an asset purchase agreement to sell its entire interest in six Quebec gold projects and a 40 % stake in a seventh project to Fokus Mining Corp. for total consideration of approximately $3 million.
• Consideration consists of $750,000 cash at closing, $1.5 million worth of Fokus common shares (10‑12.5 million shares based on VWAP), and an additional $750,000 cash three months after closing.
• The transaction is expected to close on or before September 30, 2025, subject to TSX‑V and other regulatory approvals; shareholder approval may be required under TSX‑V rules.

Key Details

• Properties sold: 100 % of Cadillac Break, Lucky Break, Silidor, Stadacona, Wasa Creek, Wasa East; 40 % of Capricorn (all on the Cadillac‑Larder Lake fault near Rouyn‑Noranda, Québec).
• Total consideration: ~US$3 million.
• $750,000 cash payable at closing.
• Issuance of Fokus common shares valued at $1.5 million; number of shares to be set based on the volume‑weighted average price (VWAP) of Fokus shares on the TSX‑V for the five trading days preceding closing, with a floor of 10 million shares and a ceiling of 12.5 million shares.
• Additional $750,000 cash payable three months after closing.
• Closing timeline: Expected on or before September 30, 2025.
• Regulatory requirements: Transaction requires TSX‑V approval and may require Visible Gold Mines shareholder approval because the sale could exceed 50 % of its assets under TSX‑V policy.
• No finder's fees or commissions are payable in connection with the transaction.

Notable Quotes

(No executive quotes were provided in the release.)