WALLBRIDGE MINING COMPANY LIMITED ANNOUNCES FILING OF EARLY WARNING REPORT RELATED TO THE ACQUISITION OF COMMON SHARES OF ARCHER EXPLORATION CORP.

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[{"type":"text","content":"\n \n \n \n WALLBRIDGE MINING COMPANY LIMITED ANNOUNCES FILING OF EARLY WARNING REPORT RELATED TO THE ACQUISITION OF COMMON SHARES OF ARCHER EXPLORATION CORP.\n \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 Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n July 13, 2022\n \n /CNW/ - Wallbridge Mining Company Limited (\"\n \n Wallbridge\n \n \" or the \"\n \n Company\n \n \") announces that it has filed an early warning report (the \"\n \n Report\n \n \") in connection with the entering into of a definitive asset purchase agreement dated\n \n July 12, 2022\n \n and announced\n \n July 13, 2022\n \n (the \"\n \n APA\n \n \") pursuant to which it will receive 198,635,786 common shares (\"\n \n Shares\n \n \") of Archer Exploration Corp. (the \"\n \n Issuer\n \n \") as part of the consideration for the disposition of all of Wallbridge's property, assets, rights and obligations related to its portfolio of nickel assets, including the Grasset property (the \"\n \n Transaction\n \n \").\n \n \n Prior to the entering into of the APA, Wallbridge did not hold any securities of the Issuer. Upon closing of the Transaction (\"\n \n Closing\n \n \"), Wallbridge will hold 198,635,786 Shares, representing 85.6% of the issued and outstanding Shares (82.3% on a fully diluted basis). On or prior to the Closing, the Issuer will complete a private placement of securities to raise gross proceeds of not less than\n \n $10,000,000\n \n (the \"\n \n Financing\n \n \"). Subject to certain assumptions regarding the Financing and the payment of certain finder's fees in connection with the Transaction, Wallbridge expects to hold approximately 74.2% of the issued and outstanding Shares post-Closing (71.7% on a fully diluted basis).\n \n \n Within 60 days of Closing, Wallbridge anticipates distributing a portion of the Shares held by it to the shareholders of Wallbridge (the \"\n \n Distribution\n \n \"), such that Wallbridge will own approximately 19.9% of the issued and outstanding Shares (19.2% on a fully diluted basis) upon completion of the Distribution.\n \n \n The Shares wil...

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