Golden Valley Mines Ltd.: Closing of Flow-Through Private Placement Offering $2,016,000
Val-d'Or, Qu�bec - October 25, 2007 - Golden Valley Mines Ltd. (TSX-V symbol: GZZ) announces in furtherance to its new release of October 19, 2007 that it has closed a flow-through private placement offering of 3,200,000 flow-through common shares at a price of $0.63 per share for gross proceeds of CND$ 2,016,000 (the "Offering"). All of the securities issued pursuant to the Offering are subject to a hold period of four months and one day from the closing date.
Desjardins Securities Inc. acted as agent in respect of the closing of the Offering and received a cash commission equal to 6.5% of the gross proceeds raised thereunder. Additionally, as part of the selling group, Beecher McMahon Capital Markets ("Beecher"), a limited market dealer will receive a special selling commission of 5% on a portion of the Offering which shall be paid directly by Desjardins to Beecher. The funds raised pursu
ant to the Offering will be used by the Company to finance exploration and development activities in respect of its James Bay, Abitibi, and other grass-roots properties located in Quebec.
About Golden Valley Mines Ltd.: The Company typically tests initial grassroots targets while owning a 100% interest and then seeks partners to continue exploration funding. This allows the Company to continue its generative programs and systematic exploration efforts at other majority-owned grassroots projects. As of October 25, 2007, the company holds majority property interests in 136 projects consisting of 4,291 mining titles (235,315 hectares) in Saskatchewan, Ontario and Quebec.
Forward Looking Statement: This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict and are not to be interpr
eted as guarantees for future performance. These forward looking could cause actual events or results to differ materially from those anticipated in such forward-looking statements. All forward looking statements speak only as of the date of this news release and the Company does not undertake any obligation to update or publicly release any revisions to such forward-looking statements to reflect events, circumstances, or changes in expectations after the date hereof. Accordingly, readers should not place undue reliance on such forward-looking statements.
For additional information please contact:
Glenn J. Mullan
President, Chairman, and CEO
#800, boul. Ren�-L�vesque Ouest; Suite #1525
Montr�al, Qu�bec H3B 1X9
Toll Free: 877.879.1688, ext. 222
Email: glenn.mullan@goldenvalleymines.com
Luciana Zannella
Vice-President, Legal and Corporate Affairs
#800, boul. Ren�-L�vesque Ouest; Suite #1525
Montr�al, Qu�bec H3B 1X9
Toll Free: 877.879.1688, ext. 251
Email: luciana.zannella@goldenvalleymines.com
Renmark Financial Communications Inc.
Jason Roy : jroy@renmarkfinancial.com
Victoria Stepanova : vstepanova@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
|
Golden Valley Mines Ltd.
|
|
EXPLORATION STAGE |
CODE : GZZ.V |
ISIN : CA3812381042 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Golden Valley Mines is a gold exploration company based in Canada. Golden Valley Mines holds various exploration projects in Canada. Its main exploration properties are BEARTOOTH ISLAND, ABITIBI GROUP and MALARTIC CHL GOLD PROPERTY in Canada. Golden Valley Mines is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.5 billions as of today (US$ 1.2 billions, € 1.0 billions). Its stock quote reached its lowest recent point on February 07, 2014 at CA$ 0.03, and its highest recent level on November 05, 2021 at CA$ 12.49. Golden Valley Mines has 119 690 000 shares outstanding. |