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Val-d'Or Mining Corp
Symbol C : MZZ
Shares Issued 18,350,655
Close 2017-10-10 C$ 0.10
Recent Sedar Documents

Val-d'Or Mining arranges $100,000 private placement

2017-10-12 12:20 ET - News Release

Mr. Glenn Mullan reports

VAL-D'OR MINING CORPORATION ANNOUNCES $100,000 PRIVATE PLACEMENT

Val-d'Or Mining Corp. will conduct a non-brokered private placement offering, pursuant to which it will issue up to one million units at a per-unit price of 10 cents for gross proceeds of up to $100,000. Each unit will consist of one common share in the capital of the company and one-half of one non-transferable common share purchase warrant, each whole warrant exercisable for the purchase of one common share of the company at a per-share price of 15 cents for a period of 36 months from the date of closing of the private placement.

The private placement, which is subject to acceptance by the TSX Venture Exchange, will close concurrent with closing of the offering by the company under a short form prospectus dated Oct. 3, 2017, as previously announced by the company by news release dated Aug. 28, 2017. It is expected that the closing will take place on or about Oct. 30, 2017, or such other date as may be agreed between the company and Canaccord Genuity Corp., the agent under the short form prospectus offering, but in any event not later than Dec. 29, 2017.

The proceeds raised from the private placement will be used by the company to conduct a recommended phase 1 exploration program on its Oregon property interest located approximately four kilometres northwest of the town of Barraute in the south-central part of Barraute township, 40 kilometres north of Val d'Or, Abitibi, northwestern Quebec, which is under option from Golden Valley Mines Ltd. All securities issued under the private placement will be subject to a hold period of four months and one day from the date of closing in accordance with applicable securities legislation.

An administration fee of 4 per cent of the gross proceeds raised by the private placement will be paid by the company to a subscriber.

About Val-d'Or Mining Corp.

Val-d'Or Mining is a junior natural resource issuer involved in the process of exploring, evaluating and promoting its mineral property assets. The company holds an option to acquire a 100-per-cent interest in 61 grassroots properties located in Ontario and Quebec; in addition to which it holds a 100-per-cent interest in the Marymac prospect located in the Labrador Trough of Quebec, subject to a 2-per-cent net smelter return royalty; a 100-per-cent interest in the Shoot-Out prospect, which is the combination of two properties, Shoot-Out East and Shoot-Out West, and consists of claims located in the Raglan belt of Northern Quebec, subject to a 3-per-cent net smelter return royalty; and a 100-per-cent interest in the Fortin prospect consisting of five contiguous mining claims located in the central part of Ducros township, approximatively 80 kilometres northeast of the city of Val-d'Or, Que., subject to a 1.5-per-cent net smelter return royalty. It also holds a 100-per-cent interest in the Chibougamau-Chapais prospect, located in the Chibougamau area in central Quebec, which was staked by the company in the second quarter of 2016.

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