The Company (together with its various subsidiaries) holds majority property interests in projects in Canada (Saskatchewan, Ontario, and Québec) and in the Republic of Sierra Leone in West Africa. This allows the Company to carry on its generative programs and systematic exploration efforts at other majority-owned grassroots projects. There can be no assurance that the reorganization will be accepted by the Exchange as proposed, or at all. In addition, completion of the proposed reorganization is subject to the approval of the Company's shareholders and the Supreme Court of British Columbia. Accordingly, no assurance can be given that the proposed reorganization will be completed as contemplated, nor that Golden Valley will achieve its reorganization objectives.Īdditionally, Golden Valley will not, at this time, be making an application to list the common shares of Calone Mining Ltd., one of its subsidiaries, on the Exchange as previously announced.Ībout Golden Valley Mines Ltd.: The Company typically tests initial grassroots targets while owning a 100% interest therein and then seeks partners to continue exploration funding. Golden Valley intends to seek shareholder approval of this proposed reorganization at an annual and special meeting of its shareholders scheduled to be held on or about June 30, 2011. (the " Subsidiaries") to effect its previously announced corporate reorganization. It has also submitted to the TSX Venture Exchange (the " Exchange") formal applications to list the common shares of the Subsidiaries on the Exchange. ("Golden Valley" or the "Company") (TSX VENTURE:GZZ) is pleased to announce that it has entered into an Arrangement Agreement with three of its subsidiaries, being Abitibi Royalties Inc., Nunavik Nickel Mines Ltd. VAL-D'OR, QUEBEC-(Marketwire - April 4, 2011) - Golden Valley Mines Ltd.
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