Non-brokered deal sells units of one share and one warrant at C$0.10
By Devika Patel
Knoxville, Tenn., Nov. 30 – Golden Valley Mines Ltd. said it completed the first tranche of a non-brokered private placement of units, raising C$1,075,000.
The company is selling units of one common share and one warrant at C$0.10 per unit. It sold 10.75 million units in the initial tranche.
The warrants are each exercisable at C$0.14 until Nov. 30, 2017. The strike price reflects a 55.56% premium to the Nov. 27 closing share price of C$0.09.
Based in Montreal, Golden Valley is a junior mining exploration company with a focus on early stage exploration projects.
| Issuer: | Golden Valley Mines Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,075,000
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| Shares: | 10.75 million
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| Price: | C$0.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Nov. 30, 2017
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| Warrant strike price: | C$0.14
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| Agent: | Non-brokered
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| Settlement date: | Nov. 30
|
| Stock symbol: | TSX Venture: GZZ
|
| Stock price: | C$0.09 at close Nov. 27
|
| Market capitalization: | C$8.26 million
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