Midway through a runup in the price of Gerle Gold (VSE) shares, director William Wolodarsky sold about a third of his stake in the junior diamond explorer.
According to the Ontario Securities Commission’s OSC Bulletin, Wolodarsky, who holds more than 10% of the company, sold 200,000 shares on the market at 22-30 cents and 200,000 shares privately at 4 cents to hold 736,200. Gerle Gold has since completed a private placement of two million shares at 25 cents per share with Cominco Ltd. and Teck Corp. Proceeds will be used to finance diamond exploration and land acquisition at an undisclosed location in the Northwest Territories.
The two seniors have the option to purchase an additional 1.7 million shares at 30 cents by Jan. 31, 1993.
Consolidated Ramrod Gold (TSE) — John Ivany, officer, was granted 100,000 options at $4.50 to hold 100,000.
Freewest Resources (TSE) — Hemlo Gold Mines, holder of more than 10%, bought 115,750 at $2.11 to hold 1.5 million.
Mountain Beaver Resources (CDN) — Harvey Tremblay, president, sold 100,000 class B shares at 28 cents to hold 505,000 indirectly.
Westmin Resources (TSE) — Brascan Ltd., holder of more than 10%, bought 2.8 million class B preferred shares at $10 to hold 2.8 million.
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