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Wallbridge Announces Closing of Second Tranche of Private Placement
Wallbridge Announces Closing of Second Tranche of Private Placement Canada NewsWir...
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":"\n\n\n\nWallbridge Announces Closing of Second 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. 20, 2017\n\n\n\nTORONTO, Nov. 20, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (the \"Company\" or \"Wallbridge\") is pleased to announce that it has closed the second tranche (\"Second Tranche\") of its previously announced non-brokered private placement (the \"Offering\") through the issuance of 17,486,558 units of the Company (each a \"Unit\") for gross proceeds of $1,573,790 and 10,000,000 flow through common shares (each an \"FT Share\") for gross proceeds of $1,000,000.  Aggregate gross proceeds under the second tranche totaled $2,573,790 and aggregate gross proceeds under the first and second tranche totaled $3,774,127.\n\n\n \n \n\n \nUnder the terms of the Offering the FT Shares were issued at a price of $0.10 and the Units were issued at a price of $0.09.  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. The Company expects to close the final tranche of the Offering later this month.\n\n\"We are making tremendous progress at our Fenelon Gold Property with excellent drilling results, a contract in place with a toll mill facility and contracts being finalized with mining contractors. With this financing and the expected final tranche closing this month, we are now financed to start the planned underground bulk sample upon receipt of the permits.\" said President and CEO Marz Kord.\n\nIn connection with the closing of the second tranche certain eligible persons were paid an aggregate cash commission of $94,827 and issued 825,254 finders' warrants (\"Finder Warrant\").  Each Finder Warrant will entitle the holder thereof to purchase one common share of the Company (eac...