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Wallbridge Mining Company Ltd. (TSX:WM, FWB:WC7) has completed a non-brokered private placement of an aggregate of 5.3 million common shares each issued on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of 8.5 cents per flow-through share, raising aggregate proceeds of $450,500.
Wallbridge Mining Company Ltd. (TSX:WM, FWB:WC7) has completed a non-brokered private placement of an aggregate of 5.3 million common shares each issued on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of 8.5 cents per flow-through share, raising aggregate proceeds of $450,500.
The company also issued 306,000 finders’ warrants in connection with the offering. Each finder’s warrant entitles the holder thereof to acquire one common share of the company at a price of 8.5 cents per warrant share until March 10, 2018.
The gross proceeds of the offering will be used for exploration of high-quality targets around the known deposit used in the prefeasibility study of Wallbridge’s 100-per-cent-owned Fenelon gold mine property in Quebec.
Marz Kord, PEng, is the qualified person on behalf of Wallbridge and has approved the scientific and technical disclosures in this press release.
About Wallbridge Mining Company Ltd.
Wallbridge is currently preparing to develop its 100-per-cent-owned high-grade gold Fenelon mine project in Quebec, with a production decision targeted for the second quarter of 2017.
Wallbridge is also continuing active partner-financed exploration on its large portfolio of nickel, copper and platinum group element projects in Sudbury, Ont. Currently, Wallbridge is completing a 20,000-metre fully partner-financed drilling program on its high-grade Parkin nickel-copper-platinum-group-
Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia through its 13-per-cent ownership of Carube Copper Corp.
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