By Devika Patel
Knoxville, Tenn., Oct. 19 - Golden Valley Mines Ltd. announced it has agreed to conduct a private placement of shares to raise up to C$2.02 million.
The company will sell up to 3,200,000 flow-through common shares at C$0.63 apiece. The shares will have a four-month hold period.
Desjardins Securities Inc. is the agent and will be paid a 6.5% cash commission.
Proceeds will be used for exploration and development.
Based in Montreal, Golden Valley Mines is a junior mining exploration company with a focus on early stage exploration projects. It owns about 131 exploration properties.
| Issuer: | Golden Valley Mines Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2,016,000
|
| Shares: | 3,200,000
|
| Price: | C$0.63
|
| Warrants: | No
|
| Agent: | Desjardins Securities Inc.
|
| Fees: | 6.5% in cash
|
| Pricing date: | Oct. 19
|
| Stock symbol: | TSX Venture: GZZ
|
| Stock price: | C$0.45 at close Oct. 18
|
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