Wallbridge Closes $63.8 Million Oversubscribed Bought Deal

Wallbridge Mining (TSX: WM) has closed its previously announced private placement. The financing, which saw a partial exercise of the over allotment option, raised gross proceeds of $63.8 million that will be used for the advancement of Wallbridge’s Fenelon project as well as general corporate purposes.

The raise, conducted at $1.15 per share, was conducted on a bought deal basis in a financing that was lead by BMO Nesbitt Burns. In total, 55,500,000 common shares of the issuer were sold, 6,500,000 of which were conducted under the over allotment option.

Notably, Kirkland Lake Gold (TSX:KL) participated in the financing, acquiring a total of 20,000,000 common shares under its non-dilution rights that were granted to the company. The firm as a result now has a 9.9% stake in Wallbridge.

Wallbridge Mining last traded at $1.03 on the TSX.


Information for this briefing was found via Sedar and Wallbridge Mining Company. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses

Video Articles

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Gold’s Wild Bull Run: Are Markets About to Break? | Mike McGlone

First Majestic Silver: The Santa Elena Mine

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Wallbridge Mining Closes $29.2 Million In Financings

Capital continues to flow into the resource sector. Wallbridge Mining (TSX: WM) last night announced...

Friday, February 25, 2022, 08:49:00 AM

Wallbridge Mining, Kirkland Lake Enter Non-Binding Term Sheet For Detour East

Wallbridge Mining (TSX: WM) and Kirkland Lake Gold (TSX: KL) yesterday evening announced that they...

Tuesday, September 15, 2020, 07:45:00 AM

Wallbridge Releases Further Drill Results From Tabasco, Cayenne Zones

Wallbridge Mining Company Limited (TSX: WM) today released the company’s assay results from its drill...

Wednesday, June 2, 2021, 09:51:00 AM

Tony Makuch Steps Down As Chair And Director Of Wallbridge Mining

Wallbridge Mining (TSX: WM) this morning indicated that its board has lost serious bench strength,...

Thursday, April 10, 2025, 08:00:04 AM

The Abitibi Greenstone Belt: One of the World’s Richest Gold Regions

For investors who like to participate in the mining sector, and junior mining in particular,...

Saturday, July 25, 2020, 08:30:00 AM