Val-d'Or Mining Corporation
TSX VENTURE : MZZ

Val-d'Or Mining Corporation

August 28, 2017 17:59 ET

Val-d'Or Mining Corporation Engages Canaccord Genuity Corp. for $1,200,000 Public Offering by Short Form Prospectus

VAL-D'OR, QUÉBEC--(Marketwired - Aug. 28, 2017) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Val-d'Or Mining Corporation (TSX VENTURE:MZZ) (formerly Nunavik Nickel Mines Ltd.) (the "Company") is pleased to announce that it has entered into a binding agreement with Canaccord Genuity Corp. ("Canaccord") pursuant to which Canaccord has agreed to be the sole lead manager and sole bookrunner in respect of a proposed commercially reasonable efforts offering (the "Offering") to the public by the Company of 12,000,000 Units at a price per Unit of $0.10 for gross proceeds of $1,200,000, each Unit consisting of one common share in the capital of the Company and one-half of one non-transferable common share purchase warrant, each whole warrant (a "Warrant") exercisable for the purchase of one common share of the Company at a per share price of $0.15 for a period of 36 months from the date of closing of the Offering.

The Units proposed to be sold under the Offering will be distributed to the public through the filing by the Company of a short form prospectus with the securities regulatory authorities in the provinces of Alberta, British Columbia, Ontario, Québec and Saskatchewan, and in such other provinces or jurisdictions that may be mutually agreed to by the Company and Canaccord.

The Company has granted Canaccord an over-allotment option (the "Over-Allotment Option") exercisable within 60 days from closing of the Offering in whole or in part by the Agent, at the sole discretion of the Agent, to require the Company to increase the size of the Offering by up to 15% of the base Offering to cover any over-allocation position. Such Over-Allotment Option will be qualified for distribution under the short form prospectus. The Company has agreed to pay Canaccord a commission equal to 10% of the aggregate gross proceeds raised under the Offering payable in cash or satisfied by the issuance of Units at a deemed per Unit price of $0.10, or any combination of cash or Units at Canaccord's option, plus a corporate finance fee of $20,000, $10,000 of which has been paid to Canaccord by the Company and the $10,000 balance of which is payable on closing of the Offering. The Company has also agreed to issue to Canaccord warrants (the "Agent's Warrants") entitling the purchase of that number of Units of the Company as is equal to 10% of the number of Units sold under the Offering at an exercise price per Unit of $0.10 for a period of 36 months from the date of closing of the Offering, the Units underlying the Agent's Warrants having the same attributes as the Units to be issued under the Offering.

The Offering is expected to close on a date to be mutually agreed upon by the Company and Canaccord, subject to customary conditions and all regulatory approvals including acceptance by the TSX Venture Exchange.

The proceeds raised under the Offering will be used by the Company to conduct the recommended work program on its Baden Property, exploration on certain of its other property interests, and for general corporate purposes.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

About Val-d'Or Mining Corporation

Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of exploring, evaluating and promoting its mineral property assets. The Company holds an option to acquire a 100% interest in 61 grassroots properties located in Ontario and Québec; in addition to which it holds a 100% interest in the Marymac Prospect consisting of 43 Map Designated Units located in the Labrador Trough of Québec, subject to a 2% NSR; a 100% interest in the Shoot-Out Prospect, which is the combination of two properties, Shoot-Out East and Shoot-Out West, and consists of 63 claims located in the Raglan Belt of northern Québec, subject to a 3% NSR; a 100% interest in the Fortin Prospect consisting of five contiguous mining claims located in the central part of Ducros Township, approximatively 80 kilometres northeast of the city of Val-d'Or, Québec, subject to a 1.5% NSR; and holds a 100% interest in the Chibougamau-Chapais Prospect, a non-contiguous group of 40 claims, located in the Chibougamau area in central Québec, which were staked by the Company in the second quarter of 2016.

Forward Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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