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Lacombe Ventures announces share sale in North Valley Resources
Lacombe Ventures Limited has recently attracted attention by announcing the sale of a significant number of common shares in North Valley Resources Ltd. The transaction, carried out through a private agreement, involved the sale of 1,250,000 common shares at a price of $0.001 per share, resulting in a total consideration of $1,250.
Operating as a holding entity in British Columbia, Lacombe Ventures is co-owned and managed by Mr.
Kenneth Ellerbeck and Mr. Quinn Ellerbeck. Both serve as key executives at North Valley Resources, with Kenneth holding the position of CEO and Quinn acting as CFO.
Impact of the share transaction
Before the recent share sale, Lacombe Ventures and its associates held 5,475,000 common shares, representing approximately 29.96% of the total outstanding shares on a partially diluted basis. The shares sold account for about 6.84% of the total outstanding shares, reflecting a notable shift in their investment strategy.
After this transaction, Lacombe and its affiliates own 4,225,000 common shares, which corresponds to roughly 23.12% of the outstanding shares on a partially diluted basis. This decrease in shareholding may suggest strategic adjustments in their investment approach or responses to changing market conditions.
Investment rationale and future intentions
The primary motive behind this transaction is for investment purposes. Lacombe Ventures, along with its associated partners, has signaled intentions to potentially buy or sell additional securities from North Valley Resources depending on market conditions and other pertinent factors. This strategic flexibility enables them to adjust their investment approach in response to the changing economic environment.
Such actions often reflect a larger strategy where companies realign their investment portfolios to maximize returns. For stakeholders, this type of disclosure acts as a vital indicator of a company’s financial health and market positioning.
Regulatory compliance and further disclosures
This announcement reflects Lacombe Ventures’ commitment to the National Instrument 62-103, which governs early warning systems and associated reporting requirements. An early warning report will be submitted to the System for Electronic Document Analysis and Retrieval (SEDAR+), ensuring compliance with regulatory standards and promoting transparency.
Investors and interested parties may access this report on the SEDAR+ platform, which will offer additional insights into the transaction and its implications. For direct inquiries, stakeholders can reach out to Quinn Ellerbeck, CFO of North Valley Resources, via email at [email protected].
The head office of North Valley Resources is situated in Kamloops, British Columbia, at 255 Battle Street West, V2C 1G8, providing a central hub for their operations.
Market implications and future outlook
This transaction represents a significant juncture in the evolving partnership between Lacombe Ventures and North Valley Resources. As market dynamics shift, Lacombe’s strategic actions may have a lasting impact on both firms, shaping investor sentiment and overall market performance.
In an investment landscape marked by constant change, Lacombe’s proactive adjustments to its holdings could signal trends for other investors. The capacity to adapt to market fluctuations is crucial for sustaining a competitive advantage in the financial sector.