Lively, Ontario (pcJ News Briefs) – Wallbridge Mining Company Limited (TSX: WM; FSE: WC7) has closed a non-brokered private placement of 5,300,000 flow-through (FT) common shares at $0.085 per FT share for gross proceeds of $450,500.
Wallbridge Mining issued 306,000 finder’s warrants with each warrant entitling the holder thereof to acquire one common share at a price of $0.085 per share until March 10, 2018.
Wallbridge Mining intends to use proceeds for exploration of high-quality targets around the known deposit used in the pre-feasibility study of Wallbridge’s 100%-owned Fenelon Gold Mine Property in Quebec.
Wallbridge Mining is currently preparing to develop its 100%-owned high-grade gold Fenelon Mine project in Quebec with a production decision targeted for Q2 2017. Wallbridge is also in discussions regarding several other advanced stage projects which could become its next mines. Wallbridge is also continuing active partner-funded exploration on its large portfolio of nickel, copper, and PGM projects in Sudbury, Ontario. Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia through its 13% ownership of Carube Copper Corp. (TSX-V: CUC), formerly Miocene Resources Limited.
photo credit: Wallbridge Mining