Alto Ventures Completes $750,000 Sale of Eagle Hill Royalty to Virginia Mines

Alto Ventures Ltd. (TSXV:ATV) completed the sale of its underlying 0.5% NSR Royalty on Eagle Hill Exploration’s Windfall Lake Gold project to Virginia Mines Inc. for $750,000, payable by the issuance of Virginia common shares. Virginia Mines also purchased a further 1,666,667 shares of Alto for $250,000.

As quoted in the press release:

In addition, Virginia Mines purchased 1,666,667 shares of Alto at a price of $0.15 per share for a total investment of $250,000. All shares issued in connection with this transaction are subject to a four month regulatory hold period.

Virginia holds 6.9% of the 24,116,214 shares outstanding in Alto post-transaction.

Click here to read the Alto Ventures Ltd. (TSXV:ATV) press release