Wallbridge Mining Company Limited completes C$63.8 million bought deal financing

October 02, 2020

Torys represented BMO Nesbitt Burns and the syndicate of underwriters with a team that included Michael Amm, Robbie Leibel, Braden Jebson, Michael Jason and Matthew Gragtmans (corporate/securities).

On October 2, 2020, Wallbridge Mining Company Limited ("Wallbridge") completed its previously announced “bought deal” public offering through the issuance of an aggregate of 55,500,000 common shares of Wallbridge at a price of C$1.15 per common share for gross proceeds of C$63,825,000, inclusive of the partial exercise of the over-allotment option by the underwriters to acquire an additional 6,500,000 common shares. The common shares were issued and sold pursuant to the terms of an underwriting agreement among Wallbridge, BMO Nesbitt Burns Inc., as lead underwriter and sole bookrunner, Eight Capital, RBC Dominion Securities Inc. and Paradigm Capital Inc.

The net proceeds from the offering will be used for continued advancement of the Wallbridge's Fenelon Gold Project and for general corporate purposes.

Wallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold property which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern Québec with an ongoing, fully-funded 100,000-metre exploration drill program in 2020. Wallbridge is also the operator of, and a shareholder in, Lonmin Canada Inc., a privately-held company with a large portfolio of nickel, copper, and platinum-group metals (PGM) projects in Ontario's Sudbury Basin.

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