Equity Financings

Date Shares Price Proceeds Notes
September, 2005 11,000,000 $6.00 $66,000,000
March, 2005 6,000,000 $3.00 $18,000,000
September, 2004 6,700,000 $2.50 $16,750,000  
May, 2004 1,000,000 $2.25 $2,250,000 Units – Each unit consisting of one common share and one-half of a share purchase warrant. Each whole warrant is exercisable into one common share of Valkyries at a price of CAD$2.50 over a period of one year. In the event that Valkyries’ shares trade above CAD$3.00 for a period of 10 consecutive trading days following the expiry of the 4 month hold period, then the warrants shall expire 15 trading days from such event
August, 2003 2,300,000 $0.70 $1,610,000 Units – Each unit comprised one common share and one share purchase warrant. Each warrant is exercisable into one common share over a period of 2 years at a price of Cdn $1.00 the first year and Cdn $1.20 the second year. However, in the event the closing price of the Company’s shares is Cdn $1.25 or greater for a period of 15 consecutive trading days following the expiry of the initial 4 month hold period, then the warrants shall expire 10 trading days from such event
March, 2003 3,000,000 $1.00 $3,000,000 Units – Each unit comprises one common share and one-half of a share purchase warrant. Each whole warrant is exercisable into one common share over a period of two years at a price of $1.10 the first year and $1.20 the second year.