By Laura Lutz
Washington, Dec. 15 - Golden Valley Mines Ltd. increased the maximum size of its previously announced private placement to C$1.55 million from C$1.5 million.
The company now plans to sell up to 3,780,487 flow-through shares to investors in Ontario, Quebec and British Columbia for C$0.41 per share.
The deal priced on Dec. 8 as an offering of up to 3,658,536 flow-through shares.
Investors will include MineralFields Group, Societe en commandite CGE Resources and an investment fund.
Settlement of the non-brokered deal is expected on or before Dec. 29, subject to regulatory approval.
Proceeds will be used for exploration and development at the company's properties in Ontario and Quebec.
Golden Valley is a Montreal-based mining company.
| Issuer: | Golden Valley Mines Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$1.55 million
|
| Shares: | 3,780,487
|
| Price: | C$0.41
|
| Warrants: | No
|
| Investors: | MineralFields Group, Societe en commandite CGE Resources, an investment fund
|
| Pricing date: | Dec. 8
|
| Upsized: | Dec. 15
|
| Settlement date: | Dec. 29
|
| Stock symbol: | TSX Venture: GZZ
|
| Stock price: | C$0.38 at close Dec. 8
|
| Stock price: | C$0.34 at close Dec. 15
|
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