Viridian Metals arranges $1.5-million private placement

Executive Summary

• Viridian Metals Inc. has arranged a non-brokered private placement to raise up to $1.5 million in aggregate gross proceeds.
• The financing consists of two tranches: flow-through shares priced at 75 cents per share and non-flow-through units priced at 56 cents per unit.
• Proceeds from the flow-through shares are designated for eligible Canadian exploration expenses at the company's Labrador projects, while hard-dollar unit proceeds are for general working capital and corporate purposes.

Key Details

• Aggregate Gross Proceeds: Up to $1.5 million.
• Flow-Through Shares:
  • Price: 75 cents per share.
  • Use of Proceeds: Eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures at the Labrador projects.
  • Renunciation: Applicable expenditures will be renounced to subscribers with an effective date on or before December 31, 2025.
• Non-Flow-Through Units:
  • Price: 56 cents per unit.
  • Composition: Each unit comprises one non-flow-through common share and one-half of one common share purchase warrant.
  • Use of Proceeds: General working capital and corporate purposes.
• Warrant Terms:
  • Each warrant is exercisable to acquire one non-flow-through common share.
  • Exercise Price: 75 cents per share.
  • Duration: Two years from the date of issuance.
• Hold Period: All securities are subject to a statutory hold period of four months and one day from the date of issuance.
• Finders' Fees: The company may pay finders' fees in cash and securities to certain arm's-length finders.

Notable Quotes

• "This financing allows Viridian to continue building on the strong momentum we have seen in recent months," said Tyrell Sutherland, president and chief executive officer of Viridian Metals. "With drilling continuing and results expected before year-end, we are encouraged by the market's recognition of our progress. We're excited to keep advancing our programs and delivering meaningful results for shareholders."