04:02 PM EDT, 03/28/2024 (MT Newswires) -- Vior ( VIORF ) on Thursday said it closed a a private placement of share units, subscription receipts and flow-through units, that raised C$91.3 million.

The Quebec junior mining company said it placed 30-million common-share units priced at C$0.125 each and made up of a share and one half of a two-year warrant to buy a second share for C$0.21, 19.84-million subscription receipts also priced at C$0.125 and 58.8-million flow-through units priced at C$0.2225 and made up of a tax-advantaged share and one-half of a two-year warrant to buy another flow-through share.

"We are proud to announce the closing of this milestone strategic financing for Vior ( VIORF ). This funding will allow us to execute on our ambitious strategic goals, including a minimum exploration budget of $13 million over 2024/2025 that includes an extensive +60,000m drill program at our flagship Belleterre Gold Project in Quebec," chief executive Mark Fedosiewich said in a release.

Vior ( VIORF ) shares closed unchanged at C$0.145 on the TSX Venture Exchange.