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Wolfden Arranges $2.5M Strategic Partner Financing with Kinross Gold Corporation
Wolfden Arranges $2.5M Strategic Partner Financing with Kinross Gold Corporation C...
About this update from Wolfden Resources Corp.
[{"type":"text","content":"\n\n\n\nWolfden Arranges $2.5M Strategic Partner Financing with Kinross Gold Corporation\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, March 19, 2019\n\n\n\nTHUNDER BAY, ON, March 19, 2019 /CNW/ - Wolfden Resources Corporation (WLF.V) (\"Wolfden\" or the \"Company\") is pleased announce that it has entered into a subscription agreement with Kinross Gold Corporation (\"Kinross\") for a non-brokered private placement of 12,500,000 common shares of the Company (\"Common Shares\") at a price of C$0.20 per Common Share for gross proceeds of C$2,500,000 (the \"Offering\").  Upon closing, Kinross shall hold approximately 9.7% of the issued and outstanding shares of the Company.\n\n \n \n\n \nThe majority of the proceeds from the Offering will be used to explore the Company's 100%-owned Pickett Mountain high-grade polymetallic deposit in North-eastern Maine, USA.  As part of the terms of the subscription agreement, the Company and Kinross have agreed to work together in the form of an exploration committee.\n\"We are very pleased to have Kinross as a significant investor and a strategic partner in our efforts to expand the current mineral resources, search for additional deposits and provide additional insight and expertise with respect to our next technical studies and permitting at Pickett Mountain,\" said Ron Little, President and CEO for the Company. The Company has been working recently to update the metallurgical studies and expects to resume its expansion and exploration drill program as soon as logistics permit. This will include follow-up of the recently discovered footwall zone in a drill hole that intersected 4.1 m of 38.2% ZnEq (incl. 612 g/t Ag and 0.5 g/t Au) and one of the last deeper holes that hit 19.5 m of 33.1% ZnEq (incl. 269 g/t Ag and 1.1 g/t Au) see press release dated January 15, 2019.\nThe Offering is expected to close on or about March 29th, 2019 and no later than May 1, 2019 and is subject to TSX Venture Exchange approval. The securities to be issued pursuant to the Offering ...