NEWS ROUNDUP — Friedland sells Vengold shares

Controversial Vancouver promoter Robert Friedland is severing his ties with Vengold (TSE).

Friedland sold 2.8 million shares to several arm’s-length investors, plus 445,000 shares in a private transaction. He granted Vengold management a 3-year option on his remaining 1.4 million shares exercisable at $4.50 each. Voting rights to the shares, during the unexercised option period, are held by Ian Telfer, president of Vengold.