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West Red Lake Gold Mines Announces Upsize To Previously Announced Bought Deal Public Offering
TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is please
About this update from West Red Lake Gold Mines Ltd
[{"type":"text","content":" TORONTO, Oct. 18, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce, it has agreed with Raymond James Ltd., to increase the size of its previously announced bought-deal financing. West Red Lake will now issue 36,232,000 units of the Company (“Units”) at a price of C$0.69 per Unit for gross proceeds of C$25,000,080 (the “Offering”). Each Unit is comprised of one common share (each a “Common Share”) and one common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$0.90 for a period of 36 months following the closing of the Offering. The Company has also granted to the Underwriters an over-allotment option to purchase an additional 15% of the base Offering, for additional gross proceeds to the Company of up to C$3,750,012, to acquire Units, Common Shares and/or Warrants (or any combination thereof), at the Underwriters’ discretion, and shall be exercisable by the Underwriters, in whole or in part, for a period of 30 days from and including the closing date. In all other respects, the terms of the Offering and use of proceeds there from will remain as previously disclosed in the original press release dated October 24, 2024. Copies of the Base Prospectus and the Supplement will be available on the Company’s SEDAR+ page at www.sedarplus.ca. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About West Red Lake Gold Mines West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the R...