The Prospector News

Wallbridge Closes Equity Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Wallbridge Closes Equity Private Placement

 

 

 

 

 

Wallbridge Mining Company Limited (TSX:WM) (FWB: WC7) is pleased to announce the closing of its previously announced non-brokered private placement through the issuance of 28,518,657 common shares of the Company at a price of C$0.07 per Share for gross proceeds of$1,996,306. No finder fees or commissions were paid in connection with the Offering.

 

 

William Day Holdings Limited acquired 27,142,857 Shares for total consideration to the Company of $1,900,000. Prior to the Acquisition, William Day owned 27,652,050 Shares of the Company representing approximately 9.35% of the issued and outstanding Shares of the Company. In addition, William Day currently owns 11,722,050 additional Share purchase warrants. Following the Acquisition, William Dayowns 54,794,907 Shares of the Company representing approximately 16.98% of the issued and outstanding Shares on a non-diluted basis, and approximately 19.89% on a partially diluted basis.

 

 

All securities issued under the Offering are subject to a statutory hold period of four months in accordance with applicable securities legislation. The proceeds of the Offering will be used to fund the 35,000-tonne bulk sample at Wallbridge’s 100%-owned Fenelon Gold Deposit in Quebec (see Wallbridge news release issued May 1, 2018).

 

 

About Wallbridge Mining

 

 

Wallbridge is working to establish a pipeline of projects that will support sustainable production and revenue as well as organic growth through exploration and scalability.

 

 

Wallbridge is currently developing its 100%-owned high-grade Fenelon Goldproperty in Quebec with ongoing exploration and a bulk sample in 2018. Wallbridge is also pursuing other additional advanced- stage projects which would add to the Company’s near term project pipeline.  These discussions benefit from the operating capabilities Wallbridge demonstrated by safely and efficiently mining the Broken Hammer deposit in Sudbury, which was completed in October 2015. Wallbridge is also continuing partner-funded exploration on its large portfolio of nickel, copper, and PGM projects inSudbury, Ontario, with a focus on its high-grade Parkin project.

 

Posted May 4, 2018

Share this news article

MORE or "UNCATEGORIZED"


Rock Tech Lithium Announces Assay Results from Ongoing Drill Program at Georgia Lake

Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF) (FWB: RJIB) (W... READ MORE

July 4, 2022

NioCorp Announces Closing of Up-Sized Private Placement for Gross Proceeds of C$4.8 Million

NioCorp Developments Ltd. (TSX: NB) (OTCQX: NIOBF) is pleased to... READ MORE

July 4, 2022

Galantas Gold Announces Exercise of Warrants

Galantas Gold Corporation (TSX-V:GAL ) (AIM: GAL) (OTCQX: GALKF) ... READ MORE

July 4, 2022

Mayfair Gold Closes Flow-Through Financing

Mayfair Gold Corp. (TSX-V: MFG) (OTCQX: MFGCF) today announced th... READ MORE

July 4, 2022

Montage Closes $20 Million Private Placement of Subscription Receipts

Montage Gold Corp.  (TSX-V: MAU) is pleased to announce the clos... READ MORE

June 30, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News