Valdez Gold Up 33c at 58c, But Hit New Yr High $1.04 Earlier after resuming trading; amalgamation OK
Valdez Gold Inc. (VAZ.V) is up 132% or 33 cents at 58 cents, but way way off the new year high of $1.04 hit earlier on big volumes after resuming trading at 9:30am ET this morning. More than 5 million shares have changed hands.
Valdez and Ryan Gold Inc. on November 22, 2010, announced that as initially set forth in the press release of Valdez dated September 27, 2010, they have signed a definitive agreement pursuant to which the two companies will merge. As a result of the merger, Valdez will acquire Ryan Gold's mineral interests, which include 269 claim units located 90 kilometres east of Dawson City, Yukon, and five other exploration properties located east and west of Dawson City. In total, Ryan Gold has a 100% interest or has an option to earn a 100% interest in six properties comprised of 3,118 claim units, which cover approximately 623 square kilometers of ground. The acquisition will be completed as a three-cornered amalgamation.
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