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Private Placement: Visionary Gold Corp. (TSXV:VIZ)

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The company is looking to raise gross proceeds of up to $2 million from the placement of up to approximately 11.1 million units (11,111,111) priced at $0.18 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.27 for 24 months, subject to an acceleration clause.

Additional Information:

Company: Visionary Gold Corp.
Website: http://www.VisionaryGoldCorp.com
Stock Symbol: TSXV: VIZ
Date Published: May 17, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Visionary Gold Corp. has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2 million from the placement of up to approximately 11.1 million units (11,111,111) priced at $0.18 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.27 for 24 months, subject to an acceleration clause.

The shares are currently trading at $0.195.

Net proceeds will be used for exploration of the company's Wolf Gold Project and its regional land package in Wyoming, which has doubled in size twice in the past six months, and now exceeds 12,000 acres of highly prospective land, and for general working capital purposes.

Gold was first discovered in Wyoming’s Miners Delight Formation by prospectors in the 1860’s near Lewiston and in South Pass City.

Orogenic lode gold was mined at the Carissa Mine at South Pass City and at dozens of other small mines for nearly 100 years until 1956.

Orogenic gold deposits are estimated to have produced about 75% of the world’s gold.

Although the area has a rich history of gold mining, very little exploration work has taken place since.

Under the leadership of Wes Adams, who became CEO in December 2020, the company is preparing to quantify the extent of gold mineralization at the Wolf Gold Project and to advance additional targets, including the Miz and Lewiston prospects (Miz and BM claim groups) and targets on its newly acquired IEV land package towards drilling.

Visionary plans a maiden drill program for 2021 to test high priority targets, including a geophysical anomaly below high-grade surface mineralisation at the historic Wolf Mine.

The initial drill target is located within the Wolf Shear Zone in the greater Miner’s Delight Basin, an area known for high-grade past production of orogenic gold which is beneath the past producing Wolf Mine.

Management believes there is strong potential to discover new gold resources within known gold-bearing structures.

Visionary will continue to identify and pursue additional high priority targets within its regional land holdings, which it considers to be a target-rich environment, hosting multiple zones of known gold mineralization, and build upon a district-scale land package.

For more information, please visit the company’s website at www.VisionaryGoldCorp.com, contact Wes Adams, CEO, at 303-809-4668 or by email at info@VisionaryGoldCorp.com.

I’m Megan Edwards for Investmentpitch Media