GOLDEN VALLEY MINES LTD. ("GZZ")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: July 25, 2017
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the documentation relating to Non-Arm's Length Mining Option Agreement (the "Agreement") as of April 18, 2017, between Golden Valley Mines Ltd. ("Golden Valley") and Nunavik Nickel Mines Ltd ("Nunavik"). In accordance with the Agreement, Golden Valley has granted to Nunavik Nickel an option to acquire a 100% interest in 61 of Golden Valley's grassroots properties located in Ontario and Quebec (the "Properties"), for the following consideration:
(i) 16,666,668 common shares of Nunavik at a deemed price of $0.12 per share ($2,000,000), issuable as to 25% on or before each of December 31, 2018, 2019, 2020 and 2021;
(ii) $4,000,000 of expenditures with respect to exploration and other mining operations on the Properties before December 31, 2021 with $500,000 to be incurred on or before December 31, 2018, $750,000 to be incurred on or before December 31, 2019, $1,000,000 to be incurred on or before December 31, 2020 and $1,750,000 to be incurred on or before December 31, 2021; and
(iii) 1.25% Net Smelter Return royalty, of which 1% of the royalty may be bought back by Nunavik by paying Golden Valley $5,000,000 at Nunavik option, in cash or, subject to prior Exchange's approval, in shares at a deemed price per share equal to the market price of Nunavik shares at the time of such election.
For further details, please refer to the press release of the Company dated April 18, 2017.
LES MINES DE LA VALLEE DE L'OR LTEE. ("GZZ")
TYPE DE BULLETIN : Convention de vente d'actif ou convention de vente d'actions
DATE DU BULLETIN : Le 25 juillet 2017
Societe du groupe 2 de TSX Croissance
Bourse de croissance TSX a accepte le depot de la documentation relativement a une convention d'option datee du 18 avril 2017, entre Les mines de la vallee de l'or ltee. (la " societe ") et Les mines de nickel Nunavik ltee. (" Nunavik "). La societe a octroye a Nunavik une option d'acquerir un interet de 100% dans 61 proprietes de base situees en Ontario et au Quebec (les " proprietes ") dans le cadre de la convention, pour la consideration suivante :
(i) 16 666 668 actions ordinaires de Nunavik a un prix repute par action de 0,12 $ (2 000 000 $) a etre emises a raison de 25% le ou avant le 31 decembre 2018, 2019, 2020 et 2021;
(ii) 4 000 000 $ de depenses d'exploration et autres operations minieres sur les proprietes avant le 31 decembre 2021 dont 500 000 $ a etre depense le ou avant le 31 decembre 2018, 750 000 $ le ou avant le 31 decembre 2019, 1 000 000 $ le ou avant le 31 decembre 2020 et 1 750 000 $ le ou avant le 31 decembre 2021; et
(iii) Royaute de 1,25 % de type redevance nette de fonderie, dont 1% de la royaute peut etre rachetee par Nunavik en payant 5 000 000 $ a Golden Valley soit en especes ou, sous reserve de l'approbation prealable de la Bourse, en actions au prix repute par action egal au cours du marche des actions de Nunavik, a l'option de Nunavik.
Pour plus d'information, veuillez referer au communique de presse de la societe date du 18 avril 2017.
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