Visionary Copper and Gold Mines Inc. Closes Final Tranche of Private Placement Financing

Core Viewpoint - Visionary Copper and Gold Mines Inc. has successfully closed the second and final tranche of its non-brokered private placement, raising a total of $3,040,262 through the issuance of charity flow-through units and Manitoba charity flow-through units [1][2]. Group 1: Private Placement Details - The company issued 1,333,334 charity flow-through units at $1.11 per unit, generating gross proceeds of $1,480,000.74, and 267,176 Manitoba charity flow-through units at $1.31 per unit, generating gross proceeds of $350,000.56 [1]. - Each charity flow-through unit consists of one flow-through common share and one-half of a transferable common share purchase warrant, with each warrant exercisable into one additional common share at an exercise price of C$1.10 for two years from closing [2]. - The company has the right to accelerate the expiry date of the warrants if the volume weighted average price of the common shares reaches $1.50 for 10 consecutive trading days [2]. Group 2: Use of Proceeds - The gross proceeds from the sale of flow-through units will be utilized to incur eligible "Canadian exploration expenses" related to the Pt. Leamington Project in Newfoundland, which will qualify as "flow-through critical mineral mining expenditures" [4]. Group 3: Debt Settlement - The company has agreed to settle indebtedness totaling $584,532 with certain creditors by issuing 446,043 common shares, which will also be subject to resale restrictions for four months [6].