GQ holding 6.1 million shares of AVR andGreat Quest sells 1.5 million Avion Gold shares
2010-01-15 09:43 ET- News Release
Also News Release (C-AVR) Avion Gold Corp
Mr.Willis Osborne of Great Quest reports
GREAT QUEST NETS $1,049,485FROM SALE OF STOCK
Great Quest Metals Ltd. has completed the sale of 1.5 million shares ofAvion Gold Corp. for proceeds of $1,049,485 (70 cents per share) asannounced in Stockwatch on Jan. 8, 2010. The sale of these sharesreduces the 7,608,696 shares of Avion, held by Great Quest from the saleof its Kenieba gold concession to Avion as reported in its Jan. 8,2010, news release, to 6,108,696 shares. Although the shares are subjectto a four-month hold period, the company is allowed to sell to anaccredited investor as long as the hold period is retained by theinvestor. Together with the remaining 6,108,696 shares of Avion and cashproceeds to date of $1,549,485, the financial position of the companyhas been significantly strengthened.
AVR,
.70 currently, so 6.1 million shares = $4.2 million + $1.5 m, total funds: $5.7 million, ie.
.16/share, Debt-Free.
Very strong financial for GQ to do the drilling for at least 1 or 2 years without doing financing.