Business
Wolfden Announces Closing of $700,000 Non-Brokered Flow-Through Private Placement
Wolfden Announces Closing of $700,000 Non-Brokered Flow-Through Private Placement ...
About this update from Wolfden Resources Corp.
[{"type":"text","content":"\n\n\n\nWolfden Announces Closing of $700,000 Non-Brokered Flow-Through Private Placement\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\nCanada NewsWire\nTHUNDER BAY, ON, June 19, 2017\n\n\n\nTHUNDER BAY, ON, June 19, 2017 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) (\"Wolfden\" or the \"Company\") is pleased to announce that it has completed its previously announced non-brokered private placement (the \"Offering\") of 4,375,000 common shares of the Company that are \"flow-through shares\" within the meaning of the Income Tax Act (Canada) (the \"Flow-Through Shares\") at a price of $0.16 per Flow-Through Share, for gross proceeds of $700,000.\n\nSecurities issued under the Offering are subject to a four-month hold period, which will expire on October 16, 2017. The Offering is subject to final acceptance by the TSX Venture Exchange.\n\nThe gross proceeds from the Offering will be used for exploration on the Company's Orvan Brook property in New Brunswick, Canada. Specifically, funding will enable the undertaking of a drilling program at Orvan Brook in order to form the basis for a mineral resource estimate. Additional drilling will also be completed on the Armstrong property, in the search for the bedrock source of several high-grade Zn-Pb-Ag boulders located down-ice to the east, on an adjacent property.\n\nIn connection with the Offering, the Company has paid an aggregate of $14,400 in cash finder's fees to Canaccord Genuity Corp. and Medalist Capital Ltd., representing 5% of the gross proceeds of the Flow-Through Shares that were sold to subscribers introduced by such parties.\n\nA related party of the Company has participated in the Offering on the same terms as arm's length investors. The Company did not file a material change report more than 21 days before the expected closing date of the Offering as the details of the Offering, including participation therein by related parties of the Company, had not been confirmed at that time and the Company wished to close the Offering on an expedited basis for sound business reasons and in a timeframe ...