Woulfe Mining Corp. (TSX VENTURE:WOF) (OTCQX:WFEMF) (FRANKFURT:OZ4) is pleased to announce that it has completed the its non-brokered private placement as announced on August 23, 2013, placing an aggregate of 10,000,000 units of the Company at a price of $0.10 per Unit for aggregate gross proceeds of $1,000,000 . The Units were comprised of one common share of the Company and one common share purchase warrant. Each Warrant is exercisable into one common share of the Company at a price of $0.12 per share until September 13, 2016.
The sole subscriber in the Offering was Dundee Corporation, an insider of the Company.
All securities issued in connection with the Offering will be subject to a four month hold period expiring on January 14, 2014.
The gross proceeds of the Offerings will be used for general working capital purposes.
The Company expects to provide an update concerning the exercise of Korea Zinc Co Ltd.’s right to exercise a participation right in relation to the Offering, as announced on September 9, 2013, mid-late next week.
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We acknowledge the [financial] support of the Government of Canada.