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Wesdome Gold Mines Closes Private Placement of Flow-Through Shares for Gross Proceeds of C$3 Million
Wesdome Gold Mines Closes Private Placement of Flow-Through Shares for Gross Proceeds of C...
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":"\n\n\n\nWesdome Gold Mines Closes Private Placement of Flow-Through Shares for Gross Proceeds of C$3 Million\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\nWesdome Gold Mines Closes Private Placement of Flow-Through Shares for Gross Proceeds of C$3 Million\nCanada NewsWire\nTORONTO, Dec. 18, 2015\n\n\n\n\n \n \n\n \n \n\nTSX:WDO\n\n\n\nTORONTO, Dec. 18, 2015 /CNW/ - Wesdome Gold Mines Ltd. (TSX: WDO) (\"Wesdome\" or the \"Company\") is pleased to announce that, subject to final approval of the Toronto Stock Exchange (the \"TSX\"), it has closed its previously announced private placement of 1,818,182 flow-through common shares of Wesdome (the \"Flow-Through Shares\") at a price of $1.65 per Flow-Through Share for gross proceeds of $3,000,000 (the \"Offering\").\n\nIn connection with the Offering, Wesdome paid a cash finders' fee in the aggregate amount of $105,000 to M Partners Inc. and Dundee Securities Ltd., representing 3.5% of the gross proceeds from the Offering.\n\nWesdome intends to use the majority of the gross proceeds from the Offering to advance its exploration programs at the Eagle River camp near Wawa, Ontario; and to a lesser extent, at its Moss Lake, Ontario and Val d'Or, Quebec properties.\n\nThe Flow-Through Shares will be subject to a four-month hold period in accordance with applicable Canadian securities laws.\n\nThis press release is not an offer of securities for sale in the United States. The shares being offered have not been and will not be registered under the United States Securities Act 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of the United States Securities Act 1933.\n\nABOUT WESDOME\n\nWesdome Gold Mines Ltd. is in its 28th year of continuous gold mining operations in Canada.  The Company is currently producing gold at the Eagle River Complex l...