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ROUYN-NORANDA, QC, April 5, 2017 /CNW Telbec/ - Visible Gold
Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) announces that it has received conditional
approval from the TSX Venture Exchange to consolidate its issued and outstanding common shares on the basis of one share for
every ten shares issued and outstanding. The consolidation of Visible Gold Mines' common shares was approved by Visible
Gold Mines' shareholders at an annual and special meeting of shareholders held on February 1, 2017 (the "Meeting"). The
Board of Directors believes that the proposed share consolidation will better position Visible Gold Mines to raise equity
financing in light of the continuing difficult market conditions that exist for junior resource issuers.
Visible Gold Mines will announce the effective date of the share consolidation in a subsequent press release. Visible
Gold Mines' common shares will continue to trade under the symbol "VGD" and Visible Gold Mines' name will not change. After the
share consolidation, Visible Gold Mines will have 12,588,909 issued and outstanding common shares, compared to 125,889,087 shares
currently outstanding. No fractional shares will be issued and all fractional shares resulting from the consolidation will
be rounded down to the nearest whole number.
Visible Gold Mines will mail a letter of transmittal to its registered shareholders, who will be required to exchange their
current share certificates for new share certificates. Shareholders who hold their shares through a securities broker or
dealer, bank or trust company will not be required to take any measures.
The share consolidation is subject to final approval from the TSX Venture Exchange.
In other news, Visible Gold Mines also announces that at the Meeting its shareholders have approved resolutions ratifying and
confirming Visible Gold Mines' stock option plan and appointing Raymond Chabot Grant Thornton LLP, Chartered Professional
Accountants, as the auditors of Visible Gold Mines.
About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic company aggressively searching for the next important gold deposit in northwestern
Québec, an area consistently ranked as one of the world's best jurisdictions for mining and exploration.
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 the release.
SOURCE Visible Gold Mines Inc.
To view the original version on PR Newswire, visit: http://www.newswire.ca/en/releases/archive/April2017/05/c1916.html