Vior Signs an Agreement on its Douay PropertySOCIETE D'EXPLORATION MINIERE VIOR INC. (TSX VENTURE:VIO)(FRANKFURT:VL5) - Societe d'exploration miniere Vior Inc ("Vior") is pleased to announce the signing of an agreement with Norvista Resources Corporation (Norvista), a company run by Mr Gerald P. McCarvill.
Under the terms of the agreement, Norvista shall create a new company that will have the right to earn up to 50% of Vior's interest in the Douay property. The new company shall make an initial payment of $1,500,000 to Vior and shall earn a 25% interest. The new company undertakes to spend $2,500,000 in exploration work on the property within 18 months. Afterwards the new company shall have the option to earn an additional 25% interest upon a second payment of $1,500,000 to Vior.
The agreement is subject to the ratification of a final contract and a due diligence of the mining titles and information relating to it. The due diligence shall be completed in the next 30 days.
The agreement is also subject to regulatory approval.
About Norvista
Norvista Resources Corporation, founded by noted Canadian mining company executive, Gerry McCarvill, is a private merchant bank dedicated to making investments in the natural resource sector. Mr. McCarvill has been instrumental in the founding of a number of international mining companies with a value into several billions of dollars. Norvista is building a portfolio of mining companies designed to provide investors a broad exposure to the sector. www.norvistaresources.com
About Vior
Vior is a growing mining company focused on developing its properties.
SOURCE: VIOR INC. Vior Inc. Claude St-Jacques President 418-692-2678 cstjacques@vior.ca Vior Inc. Jacquelin Gauthier Vice-president Exploration 418-692-2678 jgauthier@vior.ca www.vior.ca
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