By Sheri Kasprzak
New York, July 12 - Wallbridge Mining Co. Ltd. has closed two tranches of a C$2,156,800 private placement.
The company intends to sell a total of 5.49 million flow-through shares at C$0.32 each and up to 1.25 million non flow-through 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 deal is not brokered.
The company will close the offering in additional tranches.
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.
Toronto-based 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$2,156,800
|
| Placement agent: | Non-brokered
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| Announcement date: | July 12
|
| Stock symbol: | Toronto: WM
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| Stock price: | C$0.36 at close July 12
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| Flow-through shares
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| Shares: | 5.49 million
|
| Price: | C$0.32
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 1.25 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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