By Laura Lutz
Washington, March 6 - Golden Valley Mines Ltd. arranged a private placement of units for C$2 million.
The company plans to sell up to 3,636,363 units of one share and one half-share warrant at C$0.55 per unit. Each whole warrant will be exercisable at C$0.70 for two years.
Bearbeech Capital Partners Corp. will act as agent.
Settlement of the placement is expected on March 21.
Proceeds will be used for exploration and general corporate purposes.
Golden Valley is a mineral exploration company based in Montreal.
| Issuer: | Golden Valley Mines Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 3,636,363
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Agent: | Bearbeech Capital Partners Corp.
|
| Pricing date: | March 6
|
| Settlement date: | March 21
|
| Stock symbol: | TSX Venture: GZZ
|
| Stock price: | C$0.60 at close March 6
|
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