Latest news with #ViridianMetalsInc
Cision Canada
31-07-2025
- Business
- Cision Canada
Viridian Metals Outlines Basin-Scale Copper Targets and Structural Controls at Sedna and Results of AGSM
VANCOUVER, BC, July 31, 2025 /CNW/ - Viridian Metals Inc. (CSE: VRDN) ("Viridian" or the "Company") has completed its field program at the 2,600 km² Sedna Copper Project in the Seal Lake Basin, Labrador. The work advanced the Company's basin-scale targeting model by identifying key geological components required to host large sedimentary copper systems specifically, multi-kilometre scale reductant horizons and structural corridors over 100 km in length that would deliver copper-rich fluids to these chemical traps. "This program represents a major technical step forward for our understanding of the basin," said, Tyrell Sutherland, President & CEO of Viridian Metals. "Our approach is grounded in first principles—define the system, trace the plumbing, and follow the reductants to where they intersect major structures. We're now positioned to target copper where the right rocks and the right plumbing converge." Highlights from the program include: Multiple black shale horizons identified in outcrop and interpreted as reductants capable of trapping copper-rich fluids; several were traced for over 5 km, with evidence suggesting they may extend 20–30 km in strike These black shales occur lower in the stratigraphy than any previously recognized reductants in the basin, a position commonly associated with higher prospectivity in sedimentary copper systems One major structural corridor traced over 110–130 km of strike, with several additional structures extending tens of kilometres—potential conduits for copper-rich fluids Carbonate sedimentary units identified, providing a secondary chemical gradient that could enhance copper mobility and concentration Widespread alteration and fluid indicators support the presence of copper-leaching brines across key stratigraphic intervals Field mapping and evaluation of till material also suggest the potential presence of a second depocenter within the basin, inferred from the highly variable geology observed in parts of the project area. While this does not directly indicate increased prospectivity, greater geological variability can enhance the potential for copper accumulation by creating new trap sites and fluid pathways. The programs were conducted over a five-week period across seven remote field camps and were led by the Compass Exploration Group Ltd, in collaboration with Dr. Simon Jones of the Irish Centre for Research in Applied Geosciences ("iCRAG"). Next Steps Viridian is currently conducting detailed lab analysis of samples collected during the program, including geochemical and mineralogical work to better characterize fluid pathways and reductant horizons. Geophysical surveys are planned for Q3 2025 to improve resolution of subsurface structures and stratigraphy across key areas of interest. The Company will prioritize zones where mapped reductants and structural corridors overlap, and where geochemical and geophysical signals indicate copper mobility. This integrated approach will guide the refinement of basin-scale targets and support ongoing exploration planning. This work is supported by $225,000 in funding from Newfoundland and Labrador's 2025 Junior Exploration Assistance (JEA) program and $500,000 in funding from BHP through Viridian's participation in the 2025 Xplor cohort. Focus Shifts to Kraken Polymetallic Project Viridian's operational focus is now shifting to drilling at its Kraken Polymetallic Project, where the Company plans to follow up on copper intercepts of up to 4.1% Cu encountered in last year's drilling. The upcoming program will aim to assess the scale and continuity of high-grade zones within a broader copper-nickel mineralized corridor. Annual General and Special Meeting Viridian would also like to announce that all proposed resolutions were approved at the Company's Annual General and Special Meeting of shareholders held on July 30, 2025. A total of 29,768,015 shares were voted, representing 56.22% of total shares issued and outstanding as of the record date. All the resolutions proposed by the Board of Directors and management of the Company were passed as follows: The number of directors of the Company was set at five (5) and shareholders approved the re-election of Lee Bowles, Sebastien Charles, Stacie Clark (known as Stacie Jones) Alan Grujic, and Tyrell Sutherland as directors of the Company. McGovern Hurley LLP were re-appointed as auditors of the Company for the ensuing year and the directors have been authorized to fix their remuneration. The Company's proposed amendment of its existing Surplus Security Escrow Agreement (as described in the Company's press release dated July 9, 2025) was approved unanimously by disinterested shareholders. The Company now intends, effective July 31, 2025, to implement the amendment and restatement of its existing Surplus Security Escrow Agreement with a new escrow agreement as has been approved by the shareholders. A detailed description of the amendment and the material effect thereof are included in the Company's press release dated July 9, 2025. The Company would like to thank its shareholders for their continued support. Qualified Person Tyrell Sutherland, President and CEO of Viridian Metals, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained in this news release. About Viridian Metals Viridian Metals is a leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded to discover new critical metals deposits capable of transforming supply chains, we leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions leading the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt. Viridian's commitment to environmental responsibility and ethical practices ensure that its projects contribute meaningfully to the green transition, creating sustainable value for all stakeholders. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes, but is not limited to, information regarding the plans and expectations of the Company and expectations in respect of other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to the factors set forth in the Company's Filing Statement dated October 28, 2024 under the caption "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Yahoo
16-06-2025
- Business
- Yahoo
Viridian Metals Appoints Stacie Jones to Board of Directors
VANCOUVER, BC, June 16, 2025 /CNW/ - Viridian Metals Inc. (CSE: VRDN) ("Viridian" or the "Company") is pleased to announce the appointment of Stacie Jones to its Board of Directors, effective immediately. Ms. Jones brings extensive experience in mineral exploration and project development, further strengthening Viridian's leadership as it advances its critical metals portfolio in Labrador. Jones brings over a decade of technical and leadership experience in mineral exploration, across a wide variety of commodities including, base metals, gold and uranium, with significant experience in remote, district scale projects. Jones works closely with exploration-stage companies to shape technical strategy, support executive decision-making, and contribute to the delivery of technical services during key phases of corporate growth. Previously, she was Vice President of Exploration at Golden Planet Mining, where she led multi-phase drill programs and played a central role in building the company's discovery pipeline. Earlier in her career, Jones contributed significantly to the advancement of the Back River Gold Project during her time at Sabina Gold and Silver, helping to grow the global resource to over 5M oz and position the project for eventual acquisition by B2 Gold. Her broad experience across discovery, development, and corporate strategy brings valuable technical perspective to Viridian's Board as the Company advances its copper and nickel exploration efforts in Labrador. "Stacie brings an exceptional blend of technical expertise, operational leadership, and strategic thinking to our board. Her experience advancing early-stage exploration into meaningful discovery, and her ability to bridge science with commercial execution, aligns perfectly with Viridian's mission," said Tyrell Sutherland, President of Viridian Metals. "As we scale our copper exploration efforts and deepen our commitment to responsible development, Stacie's insight will be instrumental in helping us unlock value—both in the ground and for our stakeholders." Jones' appointment comes as Viridian advances fieldwork at its Sedna copper project and sharpens its exploration focus on copper—driven by rising global demand. The Company is also evaluating the potential to better define high-grade copper zones at its Kraken project, aiming to unlock additional value within its Labrador portfolio. Jones' appointment is subject to the approval of the Canadian Securities Exchange. About Viridian MetalsViridian Metals is a Canadian exploration company focused on unlocking the potential of copper and critical minerals in support of the global energy transition. With a growing portfolio of strategically located projects, Viridian is committed to responsible development, long-term value creation, and strong community partnerships. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes, but is not limited to, information regarding the plans and expectations of the Company and expectations in respect of other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to the factors set forth in the Company's Filing Statement dated October 28, 2024 under the caption "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Commitment to Responsible Business Practices Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. SOURCE Viridian Metals View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
05-06-2025
- Business
- Cision Canada
Viridian Metals Closes Final Tranche of Oversubscribed Financing
VANCOUVER, BC, June 5, 2025 /CNW/ - Viridian Metals Inc. (CSE: VRDN) (" Viridian" or the "Company") is pleased to announce the closing of the second and final tranche (the " Final Tranche") of its previously announced non-brokered private placement of Charity Flow-Through Units, Flow-Through Units, and Hard Dollar Units (the " Offering"). The Company previously closed a first tranche of the Offering announced by press release dated May 14, 2025 for gross proceeds of $1,449,265. The Company has today closed the Final Tranche for additional gross proceeds of $638,367 for total gross proceeds received pursuant to the Offering of $2,087,632. Final Tranche Closing The Final Tranche closing includes the issuance of: 833,345 "Flow-Through Units" at $0.60 per unit for gross proceeds of $500,007 Each Flow-Through Unit is comprised of one "flow-through" common share and one-half warrant exercisable at $0.75 exercisable until June 4, 2028 276,720 "Hard Dollar Units" at $0.50 per unit for gross proceeds of $138,360 Each Hard Dollar Unit is comprised of one common share and one full warrant exercisable at $0.75 exercisable until May 13, 2028 The warrants issued in respect of the Hard Dollar Units contain an acceleration provision whereby the Company may accelerate the expiry date of such warrants, by giving 60 days notice, if the Company's shares trade a volume weighted average price of $1.50 or more for 21 consecutive trading days. The warrants issued in respect of the Flow-Through Units do not contain such acceleration provision. As a result of the closing of the Final Tranche the Company has issued an additional 1,110,065 common shares (833,345 of which are designated as "flow-through shares" as defined in the Income Tax Act (Canada)) and 693,392 warrants each exercisable at $0.75 until June 4, 2028. In connection with the closing of the Final Tranche, the Company paid a finder's fee of $35,000 in cash, representing 7% of the proceeds raised from subscribers introduced by the finder, and issued 29,167 finder warrants (the " Finder's Warrants"). Each Finder Warrant entitles the holder to purchase one common share at an exercise price of $0.75 until May 13, 2028, with no acceleration provision attached. Including both the First Tranche and the Final Tranche, the Company, pursuant to the Offering, issued a total of 3,295,195 common shares (2,300,345 of which are designated as "flow-through shares" as defined in the Income Tax Act (Canada)) and 2,874,189 warrants (inclusive of the Finder's Warrants) each exercisable at $0.75. Use of Proceeds The gross proceeds raised through the issuance of Flow-Through Units and Charity Flow-Through Units must be used by the Company to incur eligible Canadian exploration expenses that qualify as "flow-through critical mineral mining expenditure" within the meaning of the Income Tax Act (Canada) at the Company's Labrador mining projects. The applicable expenditures will be renounced to subscribers to the Flow-Through Units and Charity Flow-Through Units with an effective date on or before December 31, 2025. Funds will support surface geochemistry, geophysics, and drill targeting. Proceeds from the Hard Dollar Units will be used for general working capital and corporate purposes. Tyrell Sutherland, President & CEO of Viridian Metals, commented: "With the completion of this oversubscribed financing, we've secured the resources needed to aggressively advance exploration across our Labrador projects. This funding ensures continuity, supports strategic drilling decisions, and allows us to build on the momentum we've created. Viridian is well positioned for a transformational field season." Closing & Regulatory Notes All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws, being September 14, 2025 in respect of those securities issued in the First Tranche and October 5, 2025 in respect of those securities issued in the Final Tranche. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Viridian Metals Viridian Metals is a leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded to discover new critical metals deposits capable of transforming supply chains, we leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions leading the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt. Viridian's commitment to environmental responsibility and ethical practices ensure that its projects contribute meaningfully to the green transition, creating sustainable value for all stakeholders. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes, but is not limited to, information regarding the plans and expectations of the Company and expectations in respect of other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to the factors set forth in the Company's Filing Statement dated October 28, 2024 under the caption "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Cision Canada
14-05-2025
- Business
- Cision Canada
Viridian Metals Closes First Tranche of Oversubscribed Financing to Fund Critical Metals Work
VANCOUVER, BC, May 14, 2025 /CNW/ - Viridian Metals Inc. (CSE: VRDN) (" Viridian" or the "Company") is pleased to announce the closing of the first tranche (the " First Tranche") of its previously announced non-brokered private placement of Charity Flow-Through Units, Flow-Through Units, and Hard Dollar Units (the " Offering"). The Company closed the First Tranche for gross proceeds of $1,449,265. The Company has also received executed subscriptions for combined additional gross proceeds of $638,367 for total gross subscribed proceeds to date of $2,087,632. First Tranche Closing The First Tranche closing includes the issuance of: 1,400,000 "Charity Flow-Through Units" at $0.75 per unit for gross proceeds of $1,050,000 Each Charity Flow-Through Unit is comprised of one "flow-through" common share and one full warrant exercisable at $0.75 exercisable until May 13, 2028 67,000 "Flow-Through Units" at $0.60 per unit for gross proceeds of $40,200 Each Flow-Through Unit is comprised of one "flow-through" common share and one-half warrant exercisable at $0.75 exercisable until May 13, 2028 718,130 "Hard Dollar Units" at $0.50 per unit for gross proceeds of $359,065 Each Hard Dollar Unit is comprised of one common share and one full warrant exercisable at $0.75 exercisable until May 13, 2028 The warrants issued in respect of the Charity Flow-Through Units and Hard Dollar Units contain an acceleration provision whereby the Company may accelerate the expiry date of such warrants, by giving 60 days notice, if the Company's shares trade a volume weighted average price of $1.50 or more for 21 consecutive trading days. The warrants issued in respect of the FT Units do not contain such acceleration provision. As a result of the First Tranche closing of the Offering the Company has issued 2,185,130 common shares (1,467,000 of which are designated as "flow-through shares" as defined in the Income Tax Act (Canada)) and 2,151,630 warrants each exercisable at $0.75 until May 13, 2028. No Finder's fees were paid with respect to the securities issued in the First Tranche. Expected Second Tranche In addition to the foregoing the Company has also received executed subscriptions for an additional 833,345 Flow-Through Units for gross proceeds of $500,007 and an additional 276,720 Hard Dollar Units for gross proceeds of $138,360. The Company is awaiting receipt of funds in respect of these subscriptions and expects to close a second and final tranche of the Offering with respect to these additional subscriptions within the next 10 business days. The Company will confirm closing of the second tranche by further press release. Use of Proceeds The gross proceeds raised through the issuance of Flow-Through Units and Charity Flow-Through Units must be used by the Company to incur eligible Canadian exploration expenses that qualify as "flow-through critical mineral mining expenditure" within the meaning of the Income Tax Act (Canada) at the Company's Labrador mining projects. The applicable expenditures will be renounced to subscribers to the Flow-Through Units and Charity Flow-Through Units with an effective date on or before December 31, 2025. Funds will support surface geochemistry, geophysics, and drill targeting. Proceeds from the Hard Dollar Units will be used for general working capital and corporate purposes. Tyrell Sutherland, President & CEO of Viridian Metals, commented: "We're grateful for the strong support from both new and existing investors. The Offering was oversubscribed, underscoring the industry's growing need for large-scale copper and critical metals deposits capable of supporting the energy transition. Combined with over $800,000 already in the treasury, this financing puts us in a robust position to execute on our 2025 exploration plans with confidence and flexibility." Closing & Regulatory Notes All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws, being September 14, 2025 in respect of those securities issued in the First Tranche. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Viridian Metals Viridian Metals is a leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded to discover new critical metals deposits capable of transforming supply chains, we leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions leading the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt. Viridian's commitment to environmental responsibility and ethical practices ensure that its projects contribute meaningfully to the green transition, creating sustainable value for all stakeholders. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes, but is not limited to, information regarding the plans and expectations of the Company and expectations in respect of other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to the factors set forth in the Company's Filing Statement dated October 28, 2024 under the caption "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Cision Canada
02-05-2025
- Business
- Cision Canada
Viridian Metals Announces Financing to Accelerate Critical Metals Exploration in Labrador
VANCOUVER, BC, May 2, 2025 /CNW/ - Viridian Metals Inc. (CSE: VRDN) (" Viridian" or the " Company") is pleased to announce its intention to close a non brokered private placement comprised of Charity Flow-Through Units, Flow-Through Units, and Hard Dollar Units (the " Offering") for combined total proceeds of up to $1,900,000. The Offering will be comprised of a combination of: "Charity Flow-Through Units" at $0.75 per unit Each Charity Flow-Through Unit is comprised of one "flow-through" common share and one full warrant exercisable at $0.75 for 36 months from the date of issuance, subject to certain acceleration provisions in favour of the Company "Flow-Through Units" at $0.60 per unit Each Flow-Through Unit is comprised of one "flow-through" common share and one-half warrant exercisable at $0.75 for 36 months from the date of issuance "Hard Dollar Units" at $0.50 per unit Each Hard Dollar Unit is comprised of one common share and one full warrant exercisable at $0.75 for 36 months from the date of issuance, subject to certain acceleration provisions in favour of the Company Use of Proceeds The gross proceeds raised through the issuance of Flow-Through Units and Charity Flow-Through Units must be used by the Company to incur eligible Canadian exploration expenses that qualify as "flow-through critical mineral mining expenditure" within the meaning of the Income Tax Act (Canada) at the Company's Labrador mining projects. The applicable expenditures will be renounced to subscribers to the Flow-Through Units and Charity Flow-Through Units with an effective date on or before December 31, 2025. Funds will support surface geochemistry, geophysics, and drill targeting. Proceeds from the Hard Dollar Units will be used for general working capital and corporate purposes. Tyrell Sutherland, President & CEO of Viridian Metals, commented: "This financing will significantly strengthen our balance sheet, bringing total available capital to over $2.5 million. With funding in place, we're positioned to aggressively advance both the Kraken and Sedna projects. We see a clear opportunity to unlock value across multiple targets in one of the most prospective critical metals districts in Canada." Closing & Regulatory Notes The Offering is expected to close in one or more tranches, and not earlier than May 9, 2025, subject to customary closing conditions and regulatory approvals, including the approval of the Canadian Securities Exchange (the " CSE"). All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. No finder's fees are anticipated in connection with the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Viridian Metals Viridian Metals is a leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded to discover new critical metals deposits capable of transforming supply chains, we leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions leading the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt. Viridian's commitment to environmental responsibility and ethical practices ensure that its projects contribute meaningfully to the green transition, creating sustainable value for all stakeholders. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes, but is not limited to, information regarding the plans and expectations of the Company and expectations in respect of other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to the factors set forth in the Company's Filing Statement dated October 28, 2024 under the caption "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
