Marubeni completes strategic investment in Valhalla Metals

On September 19, 2022, Valhalla Metals Inc. ("Valhalla", formerly SolidusGold Inc.) announced the completion of a strategic equity investment made by Marubeni Metals & Minerals (Canada) Inc. ("Marubeni MM") following the successful closing of its previously announced reverse takeover transaction in which one of its subsidiaries merged with the target formerly known as Valhalla Metals, Inc.

Under the terms of the strategic investment agreement, announced February 8, 2022 and executed by way of a private placement, Marubeni MM acquired 16,580,000 subordinate voting shares at a price of C$0.50 per share for approximately C$8,290,000.

Concurrent with the investment, Valhalla also completed a subscription receipt financing for gross proceeds of C$‎1,940,380.50. Each subscription receipt was converted into a common share of a newly incorporated company and subsequently exchanged into subordinate voting shares for an aggregate of ‎3,880,761 shares. On an aggregate basis, Valhalla completed financings for an aggregate of C$10,230,380.50 and issued a total of 20,460,761 subordinate voting shares.

Valhalla resumed trading on the TSXV shortly under ticker "VMXX" on September 28, 2022., following the TSXV's final acceptance of the transaction.

Further information can be found on Newfile’s website.

Valhalla (formerly SolidusGold Inc.) is a Canadian public company listed on the TSX Venture Exchange, focused on the exploration and development of precious and base metal assets.

Marubeni Metals & Minerals (Canada) is a subsidiary of Marubeni Corporation, a Japanese integrated trading and investment business conglomerate with broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields. These fields include lifestyle, ICT & real estate business, forest products, food, agri business, chemicals, energy, metals & mineral resources, power business, infrastructure project, aerospace & ship, finance & leasing business, construction, industrial machinery & mobility, and next generation business development.