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Wallbridge Mining Files Preliminary Base Shelf Prospectus
TORONTO, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) has filed a preliminary short
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":" TORONTO, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) has filed a preliminary short form base shelf prospectus (the “Shelf Prospectus”) with the securities regulatory authorities in each of the provinces and territories of Canada. The Shelf Prospectus, when made final and effective, will allow Wallbridge to offer from time to time over a 25-month period up to $50 million of equity, debt or certain other securities (collectively, the “Securities”). The final base shelf prospectus is expected to be filed in the week of December 11, 2023. The Company currently has no plans to undertake a financing. The terms of future offerings, the intended use of the net proceeds resulting from such offerings and the terms of the Securities to be offered, if any, will be established at the time of any such offering and will be described in a prospectus supplement filed with the applicable Canadian securities commissions at the time of such an offering. A copy of the Shelf Prospectus may be found on SEDAR+ at www.sedarplus.ca. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. About Wallbridge Mining Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend while respecting the environment and communities where it operates. Wallbridge’s flagship project, Fenelon Gold (“Fenelon”), is located on the highly prospective Detour-Fenelon Gold Trend Property in Québec’s Northern Abitibi region. An updated mineral resource estimate completed in January 2023 yielded significantly improved grades and additional ounces at the 100%-owned Fenelon and Martiniere projects, incorporating a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830 square kilometre exploration land package controlled by Wallbridge. In addition, Wallbridge believes that the extensive land package is extremely prospective for the discovery of additional gold deposits. Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) on its 100%-owned Fenelon gold Project with an estimated average annual gold production of 212,...