MONTREAL, QC / ACCESSWIRE / July 22, 2022 / VIOR INC. (“Vior” or the “Corporation”), (TSXV:VIO)(OTC PINK:VIORF)(FRANKFURT:VL51) is pleased to announce the closing of a first tranche of a private placement of units of the Company (the “offer’) for gross proceeds of $624,990. The offering includes the issuance of 4,807,614 units (the “units’) at a price of $0.13 per Unit, each Unit consisting of one common share of Vior’s capital (a “common share‘) and one-half Common Share Purchase Warrant (each whole Warrant being a ‘warranty“). Each warrant entitles the holder to purchase 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 are subject to an accelerated forfeiture clause whereby at any time after the four month and one day hold period the trading price of the Common Shares on the TSX Venture Exchange (the “TSX-V’) is at least $0.35 for 10 consecutive trading days as evidenced by the close price, Vior shall be entitled to notify the holder of its intention to force exercise of the Warrants within 30 days of receipt of such notice by the warrant holder.

As 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 upon closing, Osisko will own approximately 7.80% of the issued and outstanding common shares of Vior and 11.26% on a partially diluted basis, assuming all warrants held by Osisko are exercised.

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

Mark Fedosiewich, President and…