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Vior Receives a $1.5 Million Payment From Aurvista Gold Corporation
Published : May 26, 2011
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QUÉBEC, CANADA--(Marketwire - May 26, 2011) - SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. (News - Market indicators)(FRANKFURT:VL5) – Société d'exploration minière Vior Inc. ("Vior") announces that it received from its partner on the Douay property (the "Property"), Aurvista Gold Corporation ("Aurvista"), the $1.5 million payment contemplated by the agreement dated March 7, 2011, as amended on March 23, 2011 (the "Agreement"). Consequently, considering that Aurvista has also incurred on the Property exploration expenditures totalling $2.5 million, Aurvista has therefore acquired an undivided 50% interest in the Property (see press release dated February 4, 2011 for more details on the transaction between Vior and Aurvista).

Furthermore, Aurvista may now acquire an additional 50% interest in the Property, thereby acquiring the Property from Vior, on the following conditions:

  • Aurvista must issue a minimum of 21.25 million common shares to Vior.

  • Aurvista shall have completed an initial public offering and a listing on the stock exchange before November 30, 2011.

In light of the foregoing, Vior confirms that its shareholders will be called to attend a special meeting of shareholders on July 8, 2011 in Québec City in order to approve the transaction with Aurvista. The shareholders of Vior will receive during the month of June a management proxy circular containing detailed information on the transaction and the special resolution of shareholders to approve such transaction.

Profile

Vior is a mining exploration company focused on developing its properties. The company owns 50% of the Douay gold project and other mineral properties.

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 responsibility for the adequacy or accuracy of this release.

Claude St-Jacques
President
418 692-2678
cstjacques@vior.ca
or
Marc L'Heureux
Vice-President Exploration
418 692-2678
mlheureux@vior.ca
www.vior.ca

Vior Inc

EXPLORATEUR
CODE : VIO.V
ISIN : CA83364M1077
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Vior est une société développant des projet miniers d'or et de cobalt basée au Canada.

Vior détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont NOYARD AND VEZZA, LIGNERIS, LAC SEBASTIEN, DOMERGUE, BEAUCHASTEL, DOUAY NORTHWEST, DOUAY, FECTEAU, BUTEUX et LAC VOLANT au Canada.

Vior est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 5,2 millions CA$ (4,2 millions US$, 3,7 millions €).

La valeur de son action a atteint son plus bas niveau récent le 24 décembre 2008 à 0,02 CA$, et son plus haut niveau récent le 24 décembre 2010 à 1,05 CA$.

Vior possède 32 800 000 actions en circulation.

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07/07/2011Postpones Special Meeting of Shareholders to July 20th, 2011
26/05/2011Receives a $1.5 Million Payment From Aurvista Gold Corporati...
30/03/2011.: Aurvista Agreement - Paiement Postponed
09/03/2011Enters Into Definitive Agreements With Aurvista Gold
22/02/2011.: Signing of an Agreement With Northern Abitibi Mining Corp...
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