QUÉBEC CITY, QUÉBEC--(Marketwired - March 7, 2017) - Société d'exploration minière Vior Inc. (TSX VENTURE:VIO)(FRANKFURT:VL5) ("Vior" or the "Company") is pleased to announce the declaration of a special in specie dividend of an aggregate of 13,796,955 common shares of Aurvista Gold Corporation (the "Aurvista Shares") or 0.45 Aurvista Share for every 1 common share of the Company held, to the holders of common shares of the Company (the "Dividend")(as further explained below, the distribution ratio of Aurvista Shares may be reduced to 0.341 in the event all outstanding Vior Convertible Securities (as defined below) are exercised). The Aurvista Shares are listed on the TSX Venture Exchange (the "Exchange") under the symbol "AVA".
The Dividend will be distributed to shareholders of Vior pursuant to the Exchange's due bill trading policy. Pursuant to such policy:
- the record date (the "Record Date") to determine shareholders of Vior entitled to the Dividend is March 15, 2017;
- the due bill trading date will be March 13, 2017 (two trading days prior to the Record Date);
- the payment or distribution date (the "Distribution Date") will be on or about March 20, 2017;
- the ex-distribution date will be March 21, 2017 (the next trading day following the Distribution Date); and
- the due bill redemption date will be March 23, 2017 (the second trading day following the ex-distribution date).
For clarification, "due bills" will represent the Dividend that Vior shareholders will be entitled to receive. The due bills will be deemed to be attached to Vior's common shares two trading days prior to the Record Date, and will continue to be attached to Vior's shares until the end of the Distribution Date. Accordingly, Vior's shares will trade on a "due bill" basis from March 13, 2017 until close of trading on March 20, 2017 (the "Due Bill Period"). This means that persons who sell or buy Vior shares during the Due Bill Period shall also selling or buying, as applicable, the entitlement to the Dividend. Vior's shares will commence trading on an ex-distribution basis (i.e. without an attached "due bill" entitlement to the distribution) from the opening of trading March 21, 2017 (i.e. the next trading day after the Distribution Date). The due bills will be redeemed on March 23, 2017 once all trades with attached due bills entered during the Due Bill Period have settled.
The common shares of the Company acquired upon the exercise of stock options or share purchase warrants (the "Vior Convertible Securities") on or prior to March 14, 2017 will have due bills attached to them. Presuming the exercise of all of the outstanding Vior Convertible Securities, a shareholder of Vior as of the Record Date will receive as of the Distribution Date 0.341 Aurvista Share for every 1 common share of the Company held.
The Company has designated the Dividend as an eligible dividend for the purposes of the Income Tax Act (Canada), Vior shareholders are cautioned to seek the advice of their own taxation and legal advisors.
In connection with the Dividend, the Company has engaged Computershare Investor Services Inc. ("Computershare") to distribute the securities representing a Vior shareholder's applicable portion of the Dividend to the addresses shown on the register of the Company's shareholders maintained by Computershare. Fractional Aurvista Shares will not be distributed. The number of Aurvista Shares to be received by a Vior shareholder will be rounded down to the nearest whole number of Aurvista Shares.
Computershare Investor Services Inc. may be contacted at 1-800-564-6253 (inside North America) or 1-514-982-7555 (Outside North America) or by e-mail to the firstname.lastname@example.org.
Profile Vior's strategy is to generate, explore and develop quality projects in the best proven and accessible mining areas. Vior currently owns approximately 15,53% of the share capital of Aurvista Gold Corp. (TSX VENTURE:AVA), the owner of the gold Douay project, which contains a NI 43-101 compliant Mineral Resource of 2.7 million tonnes of Indicated Resources at 2.76 g/t gold for 238,000 ounces above a 0.3 g/t gold cut-off grade with an additional Inferred Resources of 115 million tonnes at 0.75 g/t gold for 2.75 million ounces above a 0.3 g/t gold cut-off grade (Aurvista press release of February 22, 2017).
Web site: www.vior.ca
SEDAR: Société d'exploration minière Vior inc.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.