Claude Veillette acquires shares of Visible Gold Mines Inc.

ROUYN-NORANDA, QC, March 27, 2019 /CNW Telbec/ - Claude Veillette (the "Acquiror") announces that he has indirectly acquired a total of 2,098,050 common shares and 447,500 common share purchase warrants of the Visible Gold Mines Inc. (the "Corporation") in a private placement and a share for debt transaction with the Corporation.

Specifically, the Acquiror acquired on March 26, 2019 the following securities of the Corporation : (i) in a private placement transaction, 447,500 common shares of the Corporation at a price of $0.08 per share and 447,500 common share purchase warrants (the "Warrants"); and (ii) in a share for debt transaction, 1,650,550 common shares of the Corporation at a deemed price of $0.065 per share (collectively, the "Transactions"). Each Warrant entitles the Acquiror to acquire one additional common share of the Corporation at a price of $0.15 until March 26, 2021.

Immediately prior to the Transactions, the Acquiror did not beneficially own or have control or direction, directly or indirectly, over any securities of the Corporation. Immediately following the closing of the Transactions, the Acquiror holds, directly or indirectly, (i) 2,098,050 common shares of the Corporation, representing 9.95% of the issued and outstanding common shares of the Corporation, and (ii) Warrants entitling the Acquiror to purchase up to 447,500 common shares of the Corporation. Assuming the exercise of all Warrants held by the Acquiror, following the closing of the Transactions the Acquiror would own 2,545,550 common shares, representing 11.82% of the Corporation's common shares that would then be issued and outstanding.

The Transactions are a private transactions that did not take place on any market or exchange.

The Acquiror acquired the shares and Warrants described in this press release for investment purposes and in accordance with applicable securities laws, the Acquiror may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Corporation in the open market or otherwise, and he reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors.

The shares and Warrants described in this press release were acquired by 7753004 Canada Inc. (1,650,550 common shares) and Gestion Claude Veillette Ltd. (447,500 common shares and 447,500 Warrants), two companies controlled by Claude Veillette.

A copy of the early warning report to be filed by the Acquiror in connection with the Transactions described above will be available on SEDAR under the Corporation's profile. This news release is issued under the early warning provisions of the Canadian securities legislation.

SOURCE Visible Gold Mines Inc.

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