Mr. Marz Kord reports
WALLBRIDGE ANNOUNCES $42.5 MILLION FINANCING
Wallbridge Mining Company Ltd. has closed a non-brokered private placement financing of 74,543,860 common shares at an issue price of 57 cents per common share for aggregate gross proceeds of $42.49-million. Net proceeds of the offering will be used to advance Wallbridge's 100-per-cent-owned Fenelon gold property and for general corporate purposes.
"The closing of this financing provides the company with the required financial resources to complete its planned 2020 exploration activities as we advance Fenelon towards production," commented Marz Kord, Wallbridge's president and chief executive officer.
All securities issued under the offering will be subject to a four-month hold period from the date of issuance, in accordance with applicable securities laws. The offering is subject to final acceptance of the Toronto Stock Exchange.
About Wallbridge Mining Company Ltd.
Wallbridge Mining Company is establishing a pipeline of projects that will support sustainable 100,000-ounce-plus annual gold production as well as organic growth through exploration and scalability.
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