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West Red Lake Gold Mines Ltd
Symbol WRLG
Shares Issued 55,847,232
Close 2023-05-30 C$ 0.67
Market Cap C$ 37,417,645
Recent Sedar+ Documents

West Red Lake receives court OK for Pure Gold purchase

2023-05-30 20:23 ET - News Release

Mr. Tom Meredith reports

WEST RED LAKE GOLD MINES LTD. ACQUISITION OF MADSEN GOLD PROJECT APPROVED BY COURT

The British Columbia Supreme Court has approved the acquisition by West Red Lake Gold Mines Ltd. of all of the Madsen gold project through the acquisition of all of the outstanding shares of Pure Gold Mining Inc. pursuant to an approval and reverse vesting order in Pure Gold's proceedings under the Companies' Creditors Arrangement Act. The order approved the transactions contemplated in the share purchase agreement entered into between the company, Pure Gold and a fund managed by Sprott Resource Lending Corp. dated May 17, 2023. Details of the acquisition and the share purchase agreement can be found in the company's April 17, 2023, and May 18, 2023, news releases, which are available on the company's website and on SEDAR.

Closing of the acquisition is subject to various conditions precedent including receipt of all required regulatory approvals including the approval of the TSX Venture Exchange. The company is working toward closing the acquisition prior to June 28, 2023.

About West Red Lake Gold Mines Ltd.

West Red Lake Gold Mines is a mineral exploration company that is publicly traded and dedicated to creating value for its shareholders by discovering new gold mines in the highly productive Red Lake gold district of Northwest Ontario, Canada. This district has yielded 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. West Red Lake holds an expansive property position spanning 3,100 hectares in Red Lake, the Rowan project, including three former gold mines -- Rowan, Mount Jamie and Red Summit. The Rowan project covers a 12-kilometre strike length along the Pipestone Bay St. Paul deformation zone and West Red Lake plans to continue exploring this property along strike and to depth aggressively in 2023.

We seek Safe Harbor.

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