Wallbridge To Conduct $56.0 Million Bought Deal Financing

Wallbridge Mining (TSX: WM) this morning announced that it is conducting a bought deal financing to the tune of $56.0 million following yesterdays transaction announcement with Kirkland Lake Gold (TSX: KL). The company will see its common shares sold at a price of $1.15 under the financing.

The financing will see a total of 49.0 million common shares of the company sold, with no warrant being offered within the financing. An option has also been granted to expand the financing by up to 15.0% for a period of thirty days following the closing of the transaction.

Notably, Kirkland Lake reaffirmed its commitment to being a 9.9% equity holder in Wallbridge, indicating that they will be exercising their participation rights to increase their position in the company to maintain its 9.9% ownership.

Net proceeds from the financing are expected to be used to fund the development of the firms Fenelon Gold project, along with general corporate purposes. The financing is expected to close by October 2, 2020.

Wallbridge Mining last traded at $1.30 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

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Kirkland Lake Gold Sees BMO Capital Markets Raise Price Target To $100

Last week, Kirkland Lake Gold (TSX: KL) gold released its third quarter results. The company...

Tuesday, November 10, 2020, 10:23:44 AM

Silvercorp Bids To Take Over Australian Gold Producer OreCorp

Canadian mining firm Silvercorp Metals Inc. (TSX: SVM) has entered into a binding scheme implementation...

Monday, August 7, 2023, 08:02:51 AM

Probe Metals Discovers New Zone At Val-d’Or East Property

Probe Metals (TSXV: PRB) this morning released further results from its ongoing exploration programs, this...

Tuesday, July 7, 2020, 09:50:43 AM

Beijing Ramps Up Gold Imports In Pivot Away from US Dollar

China has quietly ramped up gold imports by authorizing major banks to use foreign exchange...

Wednesday, May 14, 2025, 10:14:00 AM

Pistol Bay Acquires Icefields Gold Property, Featuring Historic Drilling of 59.03 G/T Gold, 7,530 G/T Silver Over 4.04 Metres

Pistol Bay Mining (TSXV: PST) this morning announced that it has entered into a letter...

Thursday, September 10, 2020, 08:56:59 AM