Business
Wallbridge Announces Final Closing of $4.3 M Private Placement to Fund Fenelon Underground Bulk Sample
Wallbridge Announces Final Closing of $4.3 M Private Placement to Fund Fenelon Underground...
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":"\n\n\n\nWallbridge Announces Final Closing of $4.3 M Private Placement to Fund Fenelon Underground Bulk Sample\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. 30, 2017\n\n\n\nTORONTO, Nov. 30, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (the \"Company\" or \"Wallbridge\") is pleased to announce that it has closed the third and final tranche (\"Third Tranche\") of its previously announced non-brokered private placement (the \"Offering\") through the issuance of 5,905,577 units of the Company (each a \"Unit\") for gross proceeds of $531,502.  Aggregate gross proceeds under the complete Offering totaled $4,305,631 and the Company issued an aggregate of 24,576,453 Units, as well as 20,937,500 Flow Through Shares (\"FT Shares\").\n\n\n \n \n\n \nUnder the terms of the Offering 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 FT Shares were issued at a price of $0.10.\n\nIn connection with the closing of the Third Tranche certain eligible persons were paid an aggregate cash commission of $15,000 and issued 138,888 finders' warrants (\"Finder Warrant\").  Each Finder Warrant will entitle the holder thereof to purchase one common share of the Company (each, a \"Finder Share\") at an exercise price of $0.10 per Finder Share for a period of 24 months following the date of issuance.\n\nAll securities issued are subject to a statutory hold period of four months in accordance with applicable securities legislation.\n\nThe gross proceeds of the Offering will be used on Wallbridge's 100%-owned Fenelon Gold deposit in Quebec, which was the subject of a recent pre-feasibility study, and for general working capital purposes.\n\nAbout Wallbridge Mining\n\nWallb...