By Sheri Kasprzak
New York, Aug. 3 - Wallbridge Mining Co. Ltd. wrapped its previously announced non-brokered private placement for C$2.24 million.
The company sold 5.5 million flow-through shares at C$0.32 each and 1.5 million units at C$0.32 each.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$0.40 for two years.
The company announced the completion of two tranches of the placement on July 12 for proceeds of C$2,156,800.
Wallbridge originally intended to sell 5.49 million shares and 1.25 million units in the placement.
Proceeds from the flow-through shares will be used to advance work at the Sudbury properties. The rest will be used for general corporate purposes.
Based in Toronto, Wallbridge is a mineral exploration company.
| Issuer: | Wallbridge Mining Co. Ltd.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$2.24 million
|
| Placement agent: | Non-brokered
|
| Settlement date: | Aug. 3
|
| Stock symbol: | Toronto: WM
|
| Stock price: | C$0.28 at close Aug. 3
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| Flow-through shares
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| Shares: | 5.5 million
|
| Price: | C$0.32
|
| Warrants: | No
|
|
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| Units
|
| Units: | 1.5 million
|
| Price: | C$0.32
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
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