Ryan Gold Corp.

Ryan Gold Corp.

November 24, 2010 19:55 ET

Valdez Gold to Resume Trading Following Announcement of Definitive Agreement With Ryan Gold

TORONTO, ONTARIO--(Marketwire - Nov. 24, 2010) - Not for dissemination in the United States or through US news WIRE SERVICES 

Valdez Gold Inc. (TSX VENTURE:VAZ)("Valdez" or the "Company") is pleased to announce the TSX Venture Exchange (the "Exchange") has advised Valdez that the trading halt in the Company's shares instituted as a result of its proposed amalgamation with Ryan Gold Inc. will be lifted. Valdez shares will resume trading, on a pre-consolidation basis, at the opening of trading on Thursday, November 25, 2010.

The details of the definitive agreement between Valdez and Ryan Gold Inc. are described in a press release dated November 22, 2010. In the same press release, the Company also announced private placements into Valdez and Ryan Gold Inc. Pricing of the private placements was based on the closing price of the Valdez common shares on the day prior to the initial announcement of the proposed amalgamation, being $0.25 per share.

As part of the amalgamation, Valdez shareholders are being asked to approve a 3.5 to 1 consolidation of the Valdez common shares and a name change to Ryan Gold Corp. at a special meeting of shareholders to be held on December 15, 2010. Valdez shares will trade on a pre-consolidation basis until the consolidation becomes effective.

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any mineral that may be produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitability, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Valdez Gold Inc.
    Michael Skead, President & CEO