QV Investors Inc.

April 15, 2010 16:05 ET

QV Investors Inc. Acquires Receipts of Argonaut Gold Ltd. for Investment Purposes

CALGARY, ALBERTA--(Marketwire - April 15, 2010) - QV Investors Inc. ("QV") has acquired 4,500,000 subscription receipts ("Receipts") of Argonaut Gold Ltd. ("Argonaut") at a price of $3.00 per Receipt in connection with a private placement by Argonaut. Each Receipt has been exercised into units, each unit consists of one common share and one half of one common share purchase warrant. Each purchase warrant entitles the holder to acquire on common share, at a price of $4.50 per purchase warrant until December 29, 2012.

As a result of the acquisition, QV holds 4,500,000 common shares, representing approximately 8.05% of the outstanding common shares of Argonaut, and 2,250,000 warrants of Argonaut that, if exercised, would result in QV holding approximately 12.07% of the total outstanding common shares of Argonaut.

QV acquired these Receipts for investment purposes and may, from time to time, acquire additional securities of Argonaut or dispose of such securities as it may deem appropriate.

QV is an investment management firm with principal offices at Livingston Place, South Tower, Suite 1008, 222 - 3rd Avenue S.W., Calgary, Alberta T2P 0B4

Contact Information

  • QV Investors Inc.
    Vanessa Rohl
    Communications Manager
    (403) 265-7007 ex. 226