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FINWIRES

Visionary Metals Buys Back C$1.33 Million of Shares Held By a Former Insider

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Visionary Metals (VIZ.V) on Friday said it repurchased C$1.33 million of its shares from the estate of a shareholder who was a former insider of the company and certain related trusts.

The company bought back 6.6-million shares from the estate. Visionary Metals now has 68.3-million shares issued and outstanding on a non-diluted basis and 92.3-million shares outstanding on a fully diluted basis, after the buyback.

"The strong support we received in our recent financing gave us the opportunity to complete this strategic share repurchase while remaining well-funded to execute upcoming exploration and diamond drilling programs at our King Solomon and Tin Cup Nickel and Copper Projects," chief executive Wes Adams said in a release.

Shares of the company closed down C$0.01, or 5%, Thursday on the TSX Venture Exchange.

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