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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (5991)	4/9/2014 11:03:23 AM
From: Goose94	Read Replies (1) \| Respond to of 202716

Alto Ventures (ATV-V) April 8, '14 has completed the sale of its underlying 0.5-per-cent net smelter returns royalty on Eagle Hill Exploration (EAG-V) Windfall Lake gold project to Virginia Mines (VGQ-T) in consideration for an amount of $750,000 payable by the issuance of common shares in the capital of Virginia (see Alto news release dated March 24, 2014). In addition, Virginia Mines purchased 1,666,667 shares of Alto at a price of 15 cents per share for a total investment of $250,000. All shares issued in connection with this transaction are subject to a four-month regulatory hold period. Virginia holds 6.9 per cent of the 24,116,214 shares outstanding in Alto post-transaction. The proceeds of the private placement will be used to maintain Alto's quality gold portfolio, advance Alto's diamond exploration activities in the Pikoo district of north-central Saskatchewan and for general working capital. Richard Mazur, chief executive officer of Alto, stated: "We are pleased that Virginia recognizes Alto's underlying value through this investment in Alto at a premium to its share price. We will aggressively explore our diamond properties in the immediate vicinity of North Arrow's Pikoo diamond discovery. Alto plans to conduct a till sampling program this summer to follow up on some high-interest geophysical targets identified on its property."