In a recent development, Lacombe Ventures Limited has announced the sale of a significant number of shares in North Valley Resources Ltd. The transaction involved the disposal of 1,250,000 common shares at a valuation of $0.001 each, amounting to a total of $1,250. This sale was executed through a private agreement.
Lacombe Ventures operates as a holding entity registered in British Columbia, co-owned by two key figures: Mr.
Kenneth Ellerbeck, CEO of North Valley, and Mr. Quinn Ellerbeck, the company’s CFO. This strategic move alters the shareholding landscape of North Valley Resources.
Table of Contents:
The facts
Before this share sale, Lacombe Ventures and its joint actors held a combined total of 5,475,000 common shares, representing nearly 29.96% of the company’s outstanding shares on a partially diluted basis. The recent transaction accounts for approximately 6.84% of the total shares. Their remaining shares now stand at 4,225,000 common shares, translating to roughly 23.12% of the outstanding shares.
The purpose of the transaction
The motivation behind this share sale revolves around investment strategies. Lacombe Ventures, along with its associates, retains the possibility of acquiring or liquidating further shares in North Valley Resources depending on market conditions. This indicates a dynamic approach to investment management, allowing for flexibility in responding to market trends.
The implications of the shareholding change
The reduction of Lacombe’s stake in North Valley Resources may have various implications for both the company and its investors. With a decreased ownership percentage, Lacombe Ventures’ influence in corporate governance could be lessened, potentially affecting strategic decisions made by North Valley.
Following the transaction, it is essential to observe how the market reacts to this change in share distribution. Investors often analyze trading patterns and ownership structures closely, as such shifts can provide insights into a company’s stability and growth prospects.
Future outlook for North Valley Resources
As Lacombe Ventures re-evaluates its stake, North Valley Resources continues its operations with its current management team. Quinn Ellerbeck, serving as both CFO and Director, remains a pivotal figure in leading the company forward. The early warning report associated with this transaction will be filed under the National Instrument 62-103, ensuring transparency and compliance with regulatory requirements.
For those interested in further details about the transaction and its implications, additional information will be available on the System for Electronic Document Analysis and Retrieval (SEDAR+). Stakeholders seeking insights into North Valley’s performance and strategic direction can find valuable resources on their official profile.