Woulfe Mining Corp WFEMF

PP filled

[Dickles]

Just heard back from advisor..... PP is FILLED!

According to our paperwork:

PP not open to anyone, must meet certain criteria.

min of $150K. + +

Can not be sold for a minimum of 4 mths from closing date.

Consists of one common share 0.20/sh and 1/2 share purchase warrant at 0.30/sh, good for up to 2 years.

Issue size was actually $4 mill according to paperwork and 5 mill was not the limit.

They allowed more if needed under certain cricumstances and that is how we got ours.

I think you will agree this is very good news.

GLAH

[ark88]

Dickles: thanks for keeping the board informed. That is great news. I suppose we'll egt a NR tomorrow. All the best.

[Majormac79]

wow 150k minimum eh! Things to aim for I guess.

[TechOne]

150k minimum... One of the many variation of 'qualified investor' when PP is announced.. One reason I never borther to call to subscribe because as they say, if you are nitpicking the details, you can't afford it.. Mind you, when PP is announced, news release typically lays out all the gory details anyway.. This was a side show until the main event so let's see we get any

[Dickles]

I don't think you will get a NR tomorrow, maybe Monday. WOF is allowing Dundee the option to sell an additional 15% or 3,000,000 units. This is apparently how we received our shares. You actually may qualify for smaller quantities than $150k GLAH

[Raptor7]

$150k with a four month hold.  I'd be crossing my fingers, toes and testicles.

[mercurysmith]

Raptor7, I hear you regarding the four month hold.  If Woulfe knew the IMC deal was about to crumble, but required this four month hold, a lot of law suits would follow regarding the PP purchasers.  I believe the four month hold is evidence pointing to the offtake being in good shape.  That said, I also wondered if that requirement was in place on the first day the PP's were

[TechOne]

You are mistaken re. 4 month hold requirement.. It was there from Day 1 and clearly mentioned in the news release of August 14 so really I am not sure where you are getting the information re. .20 purchase and sale at .19 to lock up the warrant etc.. I remember that being mentioned on the thread before but it was clearly speculation on some body's part that that did not warrant any comment

[mercurysmith]

TechOne, my bad.  I see you are correct that the initial NR mentioned the 4 month hold period.  Still, I think it is a good indication that Woulfe had no reason to think the offtake wasn't firming up because if they had such negative news, they would have had potential legal trouble requiring the 4 month hold without disclosing the bad news.  That was my main point.  

[TechOne]

Right.. No problem with that.. On the other hand, regardless of what this PP says re. holding period and the inference you have drawn, the management would be in deep trouble in so many different ways if IMC deals were to blow up and IF it could be proven that the deal was in trouble for some time.. Mind you, I am not saying that it is since obviously the management and every one is working on

[Majormac79]

Beyond the rules of holding the shares for 4 months in the pp,  dundee buyer last week accumulating around 4million shares in a single day within a couple transactions bought the market up not sold it down. This indicates insider knowledge leading to a high level of confidence in the project. Nick mentioned in an email, (I would have to double check the news

[Dickles]

Hold period is normal...It has been in every PP I have been involved in.  To prevent pre mature dumping and keeps the rif raf away.  Time helps hold up the sp and give it some support. You still need to purchase the shares in the warrant for 0.30/sh. Minimums are also put into place for a few reasons; one, to keep rif raf away and actually attracts mature investors. Seems to be quite a