Business
Wallbridge Closes on Duluth Metals Share Sale Transaction with Antofagasta and Pays Down its Outstanding Debt to Auramet
TORONTO , Nov. 12, 2014 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) (...
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":"\n\nTORONTO, Nov. 12, 2014 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) (\"Wallbridge\") is pleased to announce that it has closed on its previously disclosed share purchase transaction with Antofagasta Investment Company Limited (\"Antofagasta\"), whereby Antofagasta purchased 5,075,061 common shares in the capital of Duluth Metals Limited (\"Duluth Metals\") from Wallbridge at $0.45 (Canadian) per share for aggregate gross proceeds of $2,283,777.45.  For more information regarding this transaction or Antofagasta's proposed acquisition of Duluth Metals, please refer to Wallbridge's and Duluth Metals' respective press releases dated November 3, 2014.\n\nConcurrent with the closing of the share purchase transaction with Antofagasta, Wallbridge also prepaid US$750,000 of its outstanding US$1.5 million bridge loan owing to Auramet International LLC (\"Auramet\").  No penalty was payable by Wallbridge to exercise its prepayment rights in respect of the Auramet loan. \n\nAbout Wallbridge Mining\n\nWallbridge Mining Company Limited (WM:TSX) is currently operating its first polymetallic mine, producing copper, platinum, palladium, and gold from the Broken Hammer open pit mine in Sudbury, Ontario, Canada's premier mining district. \n\nThis press release may contain forward-looking statements (including \"forward-looking information\" within the meaning of applicable Canadian securities legislation and \"forward-looking statements\" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the operations of Wallbridge and the environment in which it operates.  Generally, forward-looking statements can be identified by the use of words such as \"plans\", \"expects\" or \"does not expect\", \"is expected\", \"budget\", \"scheduled\", \"estimates\", \"forecasts\", \"intends\", \"anticipates\" or \"does not anticipate\", or \"believes\", or variations of such words and phrases or statements that certain actions, events or results \"may\", \"could\", \"would\", \"might\" or \"will be taken\", \"occur\" or \"be achieved\".  Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of ...