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Wolfden Completes $2.5M Financing with Kinross Gold Corporation
Wolfden Completes $2.5M Financing with Kinross Gold Corporation Canada NewsWire ...
About this update from Wolfden Resources Corp.
[{"type":"text","content":"\n\n\n\nWolfden Completes $2.5M 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 29, 2019\n\n\n\nTHUNDER BAY, ON, March 29, 2019 /CNW/ - Wolfden Resources Corporation (WLF.V) (\"Wolfden\" or the \"Company\") is pleased announce that it has completed 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 with Kinross Gold Corporation (\"Kinross\") for gross proceeds of C$2,500,000. Kinross now holds approximately 9.7% of the issued and outstanding shares of the Company. The shares issued to Kinross are subject to a four-month hold period under applicable Canadian securities laws, which expires on July 30, 2019.\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.  The Company expects to resume its expansion and exploration drill program in the spring once the road access conditions are dry enough. \n\"We look forward to working with Kinross as a strategic partner in our efforts to expand the current mineral resources and search for additional deposits at Pickett Mountain,\" said Ron Little, President and CEO for the Company.  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.  \nAbout Wolfden\nWolfden is a Canadian exploration and development company primarily focused on advancing its 100%-owned Pickett Mountain Project in Maine, USA. The 6,800 acre Project is host to a high-grade (Zn, Pb, Cu, Ag, Au) zinc-rich, volcanogenic massive sulphide deposit that is close to excellent infrastructure and includes the land and all rights to minerals and timber, without any historic or aboriginal encumbrances. With a min...