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WEST RED LAKE GOLD ANNOUNCES C$10 MILLION PRIVATE PLACEMENT OF UNITS
WEST RED LAKE GOLD ANNOUNCES C$10 MILLION PRIVATE PLACEMENT OF UNITS Canada NewsWire ...
About this update from West Red Lake Gold Mines Ltd
[{"type":"text","content":"\n \n \n \n WEST RED LAKE GOLD ANNOUNCES C$10 MILLION PRIVATE PLACEMENT OF UNITS\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 6, 2023\n \n \n /CNW/ -\n \n West Red Lake Gold Mines Ltd. (\"West Red Lake Gold\" or \"WRLG\" or the \"Company\")\n \n (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Eight Capital to act as co-lead agents on behalf of a syndicate of agents (collectively, the \"Agents\") in connection with a \"best efforts\" private placement of 19,235,000 units of the Company (each, a \"Unit\") at a price of\n \n C$0.52\n \n per Unit (the \"Offering Price\") for gross proceeds of\n \n C$10,002,200\n \n (the \"Offering\").\n \n \n Each Unit will consist of one common share of the Company (each, a \"Unit Share\") and one common share purchase warrant of the Company (each a \"Warrant\"). Each Warrant will entitle the holder to acquire one common share of the Company for 36 months from the closing of the Offering at a price of\n \n C$0.68\n \n .\n \n \n The Agents will have an option (the \"Agents' Option\") to increase the size of the Offering by up to\n \n C$1,508,000\n \n through the sale of an additional 2,900,000 Units at the Offering Price, which Agents' Option is exercisable, in whole or in part, at any time up to 48 hours prior to the Closing Date (defined herein).\n \n \n The net proceeds received from the Offering will be used to advance the Company's mineral properties in\n \n Ontario\n \n , as well as for working capital and general corporate purposes.\n \n \n It is anticipated that closing of the Offering will occur on or about\n \n November 28, 2023\n \n (the \"Closing Date\"), or such other date or dates as the Company and the Underwriters may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all app...