News-Galway Gold investor AAV acquires 20.28 million shares Galway Gold investor AAV acquires 20.28 million shares
Ticker Symbol: C:GLW
Galway Gold investor AAV acquires 20.28 million shares
Galway Gold Inc (C:GLW)
Shares Issued 166,261,932
Last Close 2/11/2015 $0.075
Thursday February 12 2015 - News Release
An anonymous director of AAV reports
AAV LIMITED ACQUIRES SHARES OF GALWAY GOLD INC.
AAV Ltd. has acquired ownership of 20,287,675 common shares of Galway Gold Inc., representing approximately 12.2 per cent of the issued and outstanding common shares of Galway. Prior to the transaction, AAV did not own any of the issued and outstanding common shares of Galway. The common shares were acquired at a price of eight cents per common share, for total consideration of $1,623,014, and were acquired in exchange for Series A preferred securities of Centennial Asset Brazilian Equity Fund LLC, a Delaware limited liability company.
The common shares were acquired from AUX Canada Acquisition 2 Inc. (AUX) in satisfaction of a debt obligation of a related party to AAV. AAV will acquire an additional 8,694,719 common shares of Galway from AUX, which are held in escrow upon receipt of the consent of the TSX Venture Exchange.
Depending on market and other conditions, AAV may, from time to time, increase or decrease its holdings of common shares or other securities of Galway.
This news release is issued pursuant to National Instrument 62-103, the Early Warning System and Related Takeover Bid and Insider Reporting Issues, of the Canadian securities administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters.
A copy of the early warning report in respect of this transaction will be available at SEDAR.