On October 28, 2014, Visible Gold Mines Inc. announces that it has completed a best-efforts private placement by issuing 8,125,500 "flow-through" shares at a price of $0.08 per share and 14,583,333 units at a price of $0.06 per unit, for gross proceeds to Visible Gold Mines of $1,525,040. Each of the 14,583,333 units is comprised of one common share and one common share purchase warrant. Each Warrant entitles its holder to acquire one additional common share of Visible Gold Mines at a price of $0.10 for 18 months from the closing date. The flow-through shares and units were issued on a best-efforts basis through Maison Placements Canada, as agent. As the private placement was over-subscribed, Maison Placements Canada exercised, at the closing, an over-allotment option granted to it by Visible Gold Mines to increase the size of the private placement. McEwen Mining subscribed for 8,333,333 Units ($500,000) in the private placement. In addition, accounts managed by Goodman & Company, Investment Counsel also subscribed for an aggregate of $1 million in flow-through shares and units in the private placement. As a result of the private placement, there are 80,043,345 common shares of Visible Gold Mines issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on February 28, 2015. Visible Gold Mines is a dynamic company aggressively searching for the next major gold deposit in northwestern Quebec. The company which controls a growing land position totaling more than 67,900 hectares will use the proceeds from the issuance of the flow-through shares and units for exploration on its properties located in Québec and working capital purposes, respectively. Fasken Martineau advised Visible Gold Mines with a team composed of Sébastien Bellefleur and Neil Wiener.