Avino Silver & Gold Mines Proposes to Acquire Control of Bralorne Gold Mines Ltd.
26.06.2014 | Marketwired
VANCOUVER, Jun 26, 2014 - Bralorne Gold Mines Ltd. ("Bralorne" or the "Company") (TSX VENTURE:BPM) (OTCQX:BPMSF) (BERLIN:GV7) (FRANKFURT:GV7) (WKN:A0B75M) announces that by a share purchase agreement dated June 25, 2014 with certain a private vendor, Avino Silver & Gold Mines Ltd. ("Avino") has agreed to acquire 9,500,000 common shares (the "Shares") of Bralorne for a purchase price of CAD$0.28 per share (CAD$2.66 million in total), representing approximately 33.3% of Bralorne's total issued and outstanding shares (the "Proposed Transaction"). The Proposed Transaction will proceed by way of an exempt take-over bid, after the vendor provides the required statutory 7 days' notice of intent to distribute securities of Bralorne, and subject to the acceptance of the TSX Venture Exchange. Other than 179,149 common shares of Bralorne previously held by Avino (the "Prior Holdings"), neither Avino, nor any other persons acting jointly or in concert with Avino, previously held any other securities of Bralorne. Accordingly, Avino will own upon completion of the Proposed Transaction, a total of 9,679,149 common shares of Bralorne, representing approximately 34% of the total issued and outstanding shares of Bralorne.About Avino
Founded in 1968, Avino is a Canadian junior mining and exploration company, whose shares are listed on the NYSE-MKT and the TSX Venture Exchange. Avino owns and operates the historic Avino mine property located near Durango, Mexico. For more information about Avino, please visit their website at: www.avino.com.
About Bralorne
The Company is a Canadian junior mining and exploration company, whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties. The Company currently owns and operates the Bralorne Gold Mine, located in southwest B.C.
For more information, please feel free to visit our website at: www.bralorne.com.
ON BEHALF OF THE BOARD
William Kocken
Chief Executive Officer
Neither 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. This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Contact
Bralorne Gold Mines Ltd.
William Kocken, Chief Executive Officer
604.682.3701
604.682.3600
ir@bralorne.com
www.bralorne.com
