The Prospector News

Wallbridge Announces $42.5 Million Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Wallbridge Announces $42.5 Million Financing

 

 

 

 

 

Wallbridge Mining Company Limited (TSX:WM) (FWB: WC7)  announced it has closed a non-brokered private placement financing of 74,543,860 common shares at an issue price of $0.57 per common share for aggregate gross proceeds of $42,490,000. Net proceeds of the Offering will be used to advance Wallbridge’s 100%-owned Fenelon Gold Property and for general corporate purposes.

 

“The closing of this financing provides the Company with the required financial resources to complete its planned 2020 exploration activities as we advance Fenelon towards production,” stated Marz Kord, Wallbridge President & CEO.

 

All securities issued under the Offering will be subject to a four month hold period from the date of issuance in accordance with applicable securities laws. The Offering is subject to final acceptance of the Toronto Stock Exchange.

 

About Wallbridge Mining

 

Wallbridge is establishing a pipeline of projects that will support sustainable 100,000 ounce-plus annual gold production as well as organic growth through exploration and scalability.

 

The Company is currently developing its 100%-owned Fenelon Gold Property, which is located proximal to the Sunday Lake Deformation Zone, an emerging gold belt in northwestern Quebec with an ongoing 70-80,000 m exploration drill program in 2019 and a recently-completed 33,500-tonne bulk sample. Wallbridge is also pursuing additional advanced-stage projects which would add to the Company’s near-term project pipeline. Wallbridge is also the operator of, and a 20% shareholder in, Loncan Canada Inc., a privately-held company with a large portfolio of nickel, copper, and PGM projects in Ontario’s Sudbury Basin.

 

Posted November 29, 2019

Share this news article

MORE or "UNCATEGORIZED"


Infill Drilling at San Albino Complete, Highlighted by Intercepts of 69.99 g/t Gold Over 1.8 Meters and 47.89 g/t Gold Over 2.6 Meters; MDA Hired to Update 43-101 Resource Estimate at San Albino in Q3

Mako Mining Corp. (TSX-V: MKO) (OTCQB: MAKOF) is pleased to repor... READ MORE

May 27, 2020

Equinox Gold Receives $145 Million from Exercise of Warrants

Equinox Gold Corp.(TSX: EQX) (NYSE American: EQX) reports t... READ MORE

May 27, 2020

Sama Resources Announces Positive Preliminary Economic Assessment for Samapleu Project

Pre-tax NPV of USD$615M and IRR of 32.5% over a 20-year mine life... READ MORE

May 27, 2020

Pure Gold Mining Raises $12.3 Million From the Exercise of Share Purchase Warrants

Pure Gold Mining Inc. (TSX-V: PGM) (LSE: PUR) is pleased to annou... READ MORE

May 27, 2020

G2 Drills 4.8 m @ 10.6 g/t Au and 25 m @ 2.2 g/t Au in 200 m Step-out Hole

G2 Goldfields Inc. (TSX-V: GTWO) announces further high-grade dri... READ MORE

May 27, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions