Wallbridge Mining Successfully Closes $15.14 Million Offering
Wallbridge Mining Closes Major Funding Round
Wallbridge Mining Company Limited (TSX: WM) (OTCQB: WLBMF) has successfully concluded a significant public offering of approximately C$15.14 million. This announcement marks a pivotal moment in the company's journey towards sustainable growth and expansion.
The Details of the Public Offering
Offering Breakdown
The company offered a total of 65 million Charity Flow-Through Units priced at C$0.15 each and 49 million Hard Dollar Units priced at C$0.11 each. Additionally, 980,363 Warrants were issued under the Over-Allotment Option Exercise, along with a partial exercise contributing gross proceeds. This strategic move was spearheaded by BMO Capital Markets, leading a syndicate that included several notable agents.
Understanding Flow-Through Units
Wallbridge’s Charity Flow-Through Units comprise a common share issued on a flow-through basis and a common share purchase warrant. This structure allows investors to enjoy potential tax benefits associated with flow-through shares, making the offering attractive to investors keen on supporting mining ventures.
Planned Use of Proceeds
The funds raised will be instrumental in advancing key projects, particularly the Fenelon and Martiniere gold projects. With the infusion of capital from this offering, Wallbridge is well-positioned to enhance its operations in Quebec's promising Abitibi region.
Agnico Eagle Mines' Involvement
In a show of confidence, Agnico Eagle Mines Limited has committed to subscribe for a substantial portion of Hard Dollar Units. This private placement, part of a previous agreement between the two companies, totals approximately C$690,349 and is expected to further bolster Wallbridge's cash reserves and development activities.
Wallbridge's Strategic Direction
With a focus on environmentally responsible exploration and development, Wallbridge Mining aims to create long-term value. The company manages a sizable mineral property position of around 598 km², stretching along the Detour-Fenelon gold trend. Both the Fenelon Gold Project and the Martiniere Gold Project hold significant promise, attracting investor interest and driving operational momentum.
Contact Information for Wallbridge Mining
For investors and stakeholders seeking more information, Wallbridge Mining offers direct communication lines:
Brian Penny, CEO
Email: bpenny@wallbridgemining.com
Phone: +1 416 716 8346
Tania Barreto, Director of Investor Relations
Email: tbarreto@wallbridgemining.com
Phone: +1 289 819 3012
Frequently Asked Questions
What is the total amount raised by Wallbridge Mining in this offering?
Wallbridge Mining raised a total of approximately C$15.14 million through its public offering.
What types of units were included in the public offering?
The public offering consisted of Charity Flow-Through Units and Hard Dollar Units, as well as Warrants.
How will Wallbridge use the proceeds from the offering?
The net proceeds will be used primarily for advancing the Fenelon and Martiniere projects, alongside general corporate purposes.
Who led the public offering?
BMO Capital Markets acted as the sole bookrunner for the offering.
Are the securities from this offering available in the United States?
No, the securities have not been registered in the United States and cannot be offered or sold within the U.S. or to U.S. persons.
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