Avino Proposes to Acquire Control of Bralorne
June 26 2014 - 4:37PM
Marketwired
Avino Proposes to Acquire Control of Bralorne
VANCOUVER, BRITISH COLUMBIA--(Marketwired - 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.
Bralorne Gold Mines Ltd.William KockenChief Executive
Officer604.682.3701604.682.3600ir@bralorne.comwww.bralorne.com