Visible Gold Mines

Company history

Visible Gold Mines Inc., was incorporated on January 24, 2007 and it was a wholly own subsidiary of Fieldex Exploration Inc.

In January 2007, Visible Gold entering into a purchase and sale agreement with two arm’s-length parties pursuant to which the Company acquired a 100% interest in the Rapide Elliot property, located in the Kipawa region of Québec.

In April 2007, the Company issuing an aggregate of 1,969,998 common shares by way of private placement at a price of $0.30 per share, for gross proceeds to the Company of $591,000.

In July 2007, Fieldex Exploration has distributed to his shareholders a total of 7,439,931 common shares which were held by the Company. Each Fieldex’ shareholder of record at the close of business day on July 26, 2007 has received one common share of Visible Gold Mines for every 6.1 shares of Fieldex held.

Following the transaction in which Visible Gold Mines acquired Stadacona property; Fieldex received 800,000 common shares of Visible Gold Mines.

Following in July 2007, the Company completed an Initial Public Offering of 5.46 $ million and its shares began trading on the TSX Venture Exchange under the symbol VGD. In August 2007, the Company completed a private financing of 550,000 $ with two institutional entities.