Visionary Copper closes C$1.2 million first tranche of private placement

Visionary Copper and Gold Mines Inc. (TSXV: VCG) (OTCQX: VCGMF) completed the first tranche of its non-brokered private placement financing, raising C$1,210,361 through the issuance of 1,613,815 hard dollar units priced at C$0.75 each.

Each unit includes one common share and half of a transferable warrant. The warrants are exercisable at C$1.10 per share for two years, with provisions allowing the company to accelerate the expiry date if shares trade at or above C$1.50 for 10 consecutive trading days.

The company is also offering up to 1,333,333 flow-through units at C$1.11 each for potential gross proceeds of C$1,480,000, and up to 267,175 Manitoba flow-through units at C$1.31 each for up to C$350,000. The flow-through offering is expected to close December 18, 2025.

Company insiders purchased 229,482 hard dollar units for C$172,111. This related party transaction falls under Multilateral Instrument 61-101 requirements, though the company plans to use available exemptions as insider participation will not exceed 25% of market capitalization.

The company paid C$6,750 in finder's fees for the first tranche. Proceeds from flow-through units will fund Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures at the Point Leamington Project in Newfoundland. Hard dollar unit proceeds will support working capital and general corporate purposes.

The offering requires TSX Venture Exchange acceptance to complete. The information is based on a company press release.

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