By Laura Lutz
Des Moines, Jan. 5 - Golden Valley Mines Ltd. negotiated a C$1.25 million private placement of units with Robert R. McEwen.
The company plans to sell units of one share and one warrant at C$0.33 per unit. Each warrant is exercisable at C$0.50 for two years.
Proceeds will be used for exploration and for general corporate purposes.
Settlement is expected on Jan. 11.
Golden Valley is a mineral exploration company based in Montreal.
| Issuer: | Golden Valley Mines Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.25 million
|
| Price: | C$0.33
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Pricing date: | Jan. 5
|
| Settlement date: | Jan. 11
|
| Stock symbol: | TSX Venture: GZZ
|
| Stock price: | C$0.60 at close Jan. 5
|
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