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Wallbridge Announces Closing of First Tranche of Private Placement
Wallbridge Announces Closing of First Tranche of Private Placement Canada NewsWire...
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":"\n\n\n\nWallbridge Announces Closing of First Tranche of Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 6, 2017\n\n\n\nTORONTO, Nov. 6, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (the \"Company\" or \"Wallbridge\") today announced it has completed the first tranche (\"First Tranche\") of a non-brokered private placement offering (the \"Offering\"), issuing an aggregate of 12,121,818 common shares and 592,159 warrants.\n\n\n \n \n\n \nUnder the Offering, 10,937,500 common shares were issued on a flow-through basis (the \"FT Shares\") at a price of $0.10 for gross proceeds of $1,093,750 and 1,184,38 units (the \"Units\") were issued at a price of $0.09 per Unit for gross proceeds of $106,587. Each Unit consists of one common share of the Company (a \"Common Share\") and a one-half Common Share purchase warrant. Each whole Warrant (a \"Warrant\") will entitle the holder to acquire one additional Common Share (a \"Warrant Share\") for a period of twenty-four (24) months from the date of issuance at an exercise price of $0.15 per Warrant Share. Wallbridge expects to close the second tranche of the Offering this month.\n\n\"We are making excellent progress at our Fenelon Gold Property and these funds will help us push forward with our next phase of drilling from underground during the planned bulk sample to expand the resource and to test additional targets\" said President and CEO Marz Kord.\n\nIn connection with the closing of the FT Shares certain eligible persons were paid a cash commission up to 6% of the proceeds raised from subscribers introduced to the Company by such persons in the amount of $64,125 and issued 534,375  finder's warrants (\"Finder Warrant\"). Each Finder Warrant will entitle the holder thereof to purchase one common share of the Corporation (each, a \"Finder Share\") at an exercise price of $0.10 per Finder Share for a period of 24 months following the closing date.\n\nAll securities issued are subject to a statutory hold period of four months in accordance with applicable ...